Silicon Motion Announces Results for the Period Ended June 30, 2016

Silicon Motion Technology Corporation
Consolidated Statements of Income
(in thousands, except percentages, and per ADS data, unaudited)
 
  For the Six Months Ended
  
  Jun. 30,
 2015
( $)
  Jun. 30,
 2016
( $)
  
Net Sales 167,859  253,368  
Cost of sales 81,452  128,286  
Gross profit 86,407  125,082  
Operating expenses       
Research & development 32,248  40,432  
Sales & marketing 8,492  12,566  
General & administrative 6,716  7,146  
Amortization of  intangibles assets -  1,052  
Operating income 38,951  63,886  
        
Non-operating expense (income)       
Gain on sale of investments 2  1  
Interest income, net 1,017  866  
Foreign exchange gain (loss), net 379  (428) 
Others, net 4  19  
Subtotal 1,402  458  
Income before income tax 40,353  64,344  
Income tax expense 6,666  12,283  
Net income 33,687  52,061  
        
Basic earnings per ADS$0.98 $1.48  
Diluted earnings per ADS$0.97 $1.47  
            
Margin Analysis:              
Gross margin   51.5 %   49.4 %  
Operating margin   23.2 %   25.2 %  
Net margin   20.1 %   20.6 %  
       
Additional Data:      
Weighted avg. ADS equivalents   34,249     35,143    
Diluted ADS equivalents   34,703     35,444    



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