Silicon Motion Announces Preliminary Second Quarter 2013 Revenue and Earnings Conference Call Details
July 02 2013 - 8:00AM
Silicon Motion Technology Corporation (Nasdaq:SIMO) ("Silicon
Motion" or the "Company"), a global leader in designing and
marketing NAND flash controllers for solid state storage devices
and specialty RF IC solutions for mobile devices, announces that
based upon its preliminary financial results, revenue for the
second quarter is expected to be flat as compared to the revenue
for the first quarter, below the company's original guidance issued
on April 26, 2013, of up 5 to 10%. Gross margin (non-GAAP) is
expected to be in the 47 to 49% range, above the company's guidance
of 45 to 47%.
Commenting on the company's preliminary results, Silicon
Motion's President and CEO, Wallace Kou, said:
"In the second quarter, we saw demand for our embedded
controllers (eMMC) exceed our own expectations along with
continuing strong OEM sales of our other controller products.
However, with availability of NAND flash still tight for module
makers, procurement of our card and USB flash drive controllers
from these customers was lower than expected."
The Company will release its full second quarter 2013 results
after the market closes on July 29, 2013. The Company will host a
conference call on July 30, at 8 am Eastern Time, to discuss its
results.
(Speakers) |
Wallace Kou, President & CEO |
Riyadh Lai, CFO |
Jason Tsai, Director of Investor Relations
and Strategy |
CONFERENCE CALL ACCESS
NUMBERS: |
|
USA (Toll Free): |
1 866 519 4004 |
USA (Toll): |
1 845 675 0437 |
Taiwan (Toll Free) |
0080 112 6920 |
Participant Passcode: |
1204 6176 |
|
|
REPLAY NUMBERS (for 7
days): |
|
USA (Toll Free): |
1 855 452 5696 |
USA (Toll): |
1 646 254 3697 |
Participant Passcode: |
1204 6176 |
This call will be webcasted on the Company's website at
www.siliconmotion.com. The webcast will also be distributed through
the Thomson Reuters StreetEvents Network to both institutional and
individual investors. Individual investors can listen to the
call at www.earnings.com, Thomson Reuters/CCBN's individual
investor portal. Institutional investors can access the call
via Thomson Reuters password-protected event management site,
StreetEvents (www.streetevents.com).
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 two major
product lines, mobile storage and mobile communications. 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 primarily of handset
transceivers and mobile TV IC solutions.
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. 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 the 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; general economic conditions or
conditions in the semiconductor or consumer electronics markets
including any effects of the general global economic slowdown
beginning in 2007; decreases in the overall average selling prices
of our products; the payment or non-payment of cash dividends in
the future at the discretion of our board of directors; changes in
the relative sales mix of our products; demand, adoption and sales
of our New Growth Products; the effect, if any, on the price of our
ADS as a result of the implementation, if at all, of the announced
share repurchase program; 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 which
began in 2007 as it effects the Company, its 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 April 30, 2013, as amended on May 29,
2013. We assume no obligation to update any forward-looking
statements, which apply only as of the date of this press
release.
CONTACT: INVESTOR CONTACTS:
Jason Tsai
Director of IR and Strategy
Tel: +1 408 519 7259
Fax: +1 408 519 7101
E-mail: ir@siliconmotion.com
Selina Hsieh
Investor Relations
Tel: +886 3 552 6888 x2311
Fax: +886 3 560 0336
E-mail: ir@siliconmotion.com
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