Silicon Motion Technology Corp. Q3 adjusted earnings Beat Estimates

Silicon Motion Technology Corp. (SIMO) reported earnings for its third quarter that advanced from last year.

The company’s bottom line totaled $29.18 million, or $0.81 per share. This compares with $17.59 million, or $0.49 per share, in last year’s third quarter.

Excluding items, Silicon Motion Technology Corp. reported adjusted earnings of $34.50 million or $0.95 per share for the period.

Analysts had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 8.9% to $138.56 million from $127.22 million last year.

Silicon Motion Technology Corp. earnings at a glance:

-Earnings (Q3): $34.50 Mln. vs. $20.35 Mln. last year.
-EPS (Q3): $0.95 vs. $0.57 last year.
-Analysts Estimate: $0.70
-Revenue (Q3): $138.56 Mln vs. $127.22 Mln last year.

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