Silicon Motion Announces Preliminary Second Quarter 2010 Revenue
July 08 2010 - 8:30AM
Silicon Motion Technology Corporation (Nasdaq:SIMO) (the
"Company"), a leading fabless semiconductor company that designs,
develops and markets semiconductor solutions for multimedia
consumer electronics, today announced that expected revenue in the
second quarter of 2010 will be stronger than the Company's previous
outlook.
The Company expects revenue in the second quarter of 2010 to
increase sequentially between 23% and 25%. This is a positive
increase over the guidance previously provided by the Company in
late April 2010 that revenue would be up 10% to 20%
sequentially.
The Company expects second quarter 2010 gross margin excluding
stock-based compensation to be in line with its previously
communicated guidance of 46% to 48%.
"We are pleased that our Mobile Storage products continue to
demonstrate better than expected strength as we leverage our
leading-edge controller technology leadership and market share
leadership in advanced NAND flash components to take advantage of
increased NAND flash supply, specifically from the expanding
availability of more advanced components. The first half of 2010
came in better than expected and we continue to believe that this
is a year of gradual recovery for Silicon Motion," said Wallace
Kou, President and CEO of Silicon Motion.
Silicon Motion is planning on releasing its unaudited second
quarter 2010 results in the last week of July. Details on this
as well as our earnings call will be provided in a separate
announcement.
About Silicon Motion:
We are a fabless semiconductor company that designs, develops
and markets high performance, low-power semiconductor solutions for
the multimedia consumer electronics market. We have three major
product lines: mobile storage, mobile communications, and
multimedia SoCs. Our mobile storage business is composed of
microcontrollers used in NAND flash memory storage products such as
flash memory cards, USB flash drives, SSDs, and embedded flash
applications. Our mobile communications business is composed of
mobile TV IC solutions, CDMA RF ICs, and electronic toll collection
RF ICs. Our multimedia SoCs business is composed of products that
support notebook PC webcams and embedded graphics applications.
Forward-Looking Statements:
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including without limitation, statements about Silicon
Motion's updated expected second quarter 2010 guidance, revenue and
gross margin, all of which reflect management's estimates based on
information available at the time of this press release. While
Silicon Motion believes these estimates to be meaningful, these
amounts could differ materially from actual reported amounts for
the second quarter. Forward-looking statements also include,
without limitation, statements regarding trends in the multimedia
consumer electronics market and our future results of operations,
financial condition and business prospects. In some cases, you
can identify forward-looking statements by terminology such as
"may," "will," "should," "expect," "intend," "plan," "anticipate,"
"believe," "estimate," "predict," "potential," "continue," or the
negative of these terms or other comparable
terminology. Although such statements are based on our own
information and information from other sources we believe to be
reliable, you should not place undue reliance on them. These
statements involve risks and uncertainties, and actual market
trends or our actual results of operations, financial condition or
business prospects may differ materially from those expressed or
implied in these forward-looking statements for a variety of
reasons. Potential risks and uncertainties include, but are
not limited to unpredictable volume and timing of customer orders,
which are not fixed by contract but vary on a purchase order basis;
the loss of one or more key customers or the significant reduction,
postponement, rescheduling or cancellation of orders from these
customers; integration of our recently announced acquisitions;
general economic conditions or conditions in the semiconductor or
consumer electronics markets; decreases in the overall average
selling prices of our products; changes in the relative sales mix
of our products; changes in our cost of finished goods; the
availability, pricing, and timeliness of delivery of other
components and raw materials used in our customers' products; our
customers' sales outlook, purchasing patterns, and inventory
adjustments based on consumer demands and general economic
conditions, including the general global economic slowdown as it
affects us, our customers and consumers; our ability to
successfully develop, introduce, and sell new or enhanced products
in a timely manner; and the timing of new product announcements or
introductions by us or by our competitors. For additional
discussion of these risks and uncertainties and other factors,
please see the documents we file from time to time with the
Securities and Exchange Commission, including our Annual Report on
Form 20-F filed on June 25, 2010. We assume no obligation to
update any forward-looking statements, which apply only as of the
date of this press release.
CONTACT: Silicon Motion Technology Corporation
Investor Contact:
Jason Tsai, Director of IR and Strategy
+1 408 519 7259
Fax: +1 408 519 7101
jtsai@siliconmotion.com
Investor Relations
Selina Hsieh
+886 3 552 6888 x2311
Fax: +886 3 560 0336
ir@siliconmotion.com
Media Contact:
Sara Hsu, Project Manager
+886 2 2219 6688 x3509
Fax: +886 2 2219 6868
sara.hsu@siliconmotion.com
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