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보도자료
 
2017/01/24
 

Silicon Motion Announces Results for the Period Ended December 31, 2016

Financial Highlights

      4Q 2016 GAAP
  4Q 2016 Non-GAAP
* Net sales     $144.2 million (-9% Q/Q, +47% Y/Y)   $144.2 million (-9% Q/Q, +47% Y/Y)
* Gross margin      50.0%
   50.2%
* Operating margin      24.2%
   30.4%
* Earnings per diluted ADS      $0.73 
   $0.95
                 
      Full Year 2016 GAAP    Full Year 2016 Non-GAAP 
       
* Net sales     $556.1 million (+54% Y/Y)   $556.1 million (+54% Y/Y)            
* Gross margin      49.4%
   49.4%  
* Operating margin      24.7%
   28.2%  
* Earnings per diluted ADS      $3.12
   $3.64  
               

Business Highlights

  • Embedded Storage1 sales decreased approximately 10% Q/Q and accounted for about 80% of total sales, similar to the previous quarter
  • Client SSD controller sales increased over 5% Q/Q
  • eMMC controller sales decreased over 5% Q/Q
  • SSD solutions sales decreased over 40% Q/Q
  • Our flash partner began sampling with leading smartphone OEMs their UFS embedded memory with our controller
  • Introduced our Shannon Systems ultra-high performance 12.8TB PCIe SSD with 3D NAND  for Chinese hyperscalers

TAIPEI, Taiwan and MILPITAS, Calif., Jan. 24, 2017 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion” or the “Company”) today announced its financial results for the quarter ended December 31, 2016.  For the fourth quarter, net sales decreased 9% sequentially to $144.2 million from $158.6 million in the third quarter. Net income (GAAP) decreased to $26.2 million or $0.73 per diluted ADS (GAAP) from a net income (GAAP) of $32.7 million or $0.92 per diluted ADS (GAAP) in the third quarter.

Embedded Storage comprises primarily eMMC and client SSD controllers and enterprise and industrial SSD solutions.

For the fourth quarter, net income (non-GAAP) decreased to $33.9 million or $0.95 per diluted ADS (non-GAAP) from a net income (non-GAAP) of $38.3 million or $1.07 per diluted ADS (non-GAAP) in the third quarter.

Fourth Quarter 2016 Review
“Due to continuing strength of our SSD controller business, representing our ninth consecutive quarter of SSD controller growth, we achieved fourth quarter sales that were on the high-end of our expectations,” said Wallace Kou, President and CEO of Silicon Motion. “Strength from our SSD controllers was however  offset by seasonally weak eMMC controller sales and SSD Solutions project transitions.”

Sales

(in millions, except percentages) 4Q 2016 3Q 2016 4Q 2015
  Sales Mix Sales Mix Sales Mix
Mobile Storage*
$
130.3
  90 %
$
146.9
  93 %
$
87.5
  89 %
Q/Q   -11 %       13 %       8 %    
Y/Y   49 %       82 %       34 %    
Mobile Communications** $ 12.5   9 % $ 10.1   6 % $ 8.8   9 %
Others $ 1.4   1 % $ 1.6   1 % $ 1.7   2 %
Total revenue
$
144.2
  100
%
$
158.6
  100
%
$
98.0
  100 %
Q/Q   -9 %       13 %       3 %    
Y/Y   47 %       66 %       22 %    

* Mobile Storage products include Embedded Storage products (eMMC and client SSD controllers and enterprise and industrial SSD solutions) and Expandable Storage products (SD and USB flash drive controllers)   

** Mobile Communications products include mobile TV SoCs and handset transceivers

Key Financial Results

(in millions, except percentages and per ADS amounts) GAAP Non-GAAP
4Q 2016 3Q 2016 4Q 2015 4Q 2016 3Q 2016 4Q 2015
Revenue $   144.2   $   158.6   $   98.0   $   144.2   $   158.6   $   98.0  
Gross profit $   72.1   $   77.4   $   49.0   $   72.3   $   77.6   $   49.1  
Percent of revenue     50.0 %     48.8 %     50.0 %     50.2 %     48.9 %     50.1 %
Operating expenses $   37.3   $   38.9   $   31.0   $   28.5   $   32.0   $   25.3  
Operating income $   34.9   $   38.5   $   18.1   $   43.8   $   45.5   $   23.9  
Percent of revenue     24.2 %     24.3 %     18.4 %     30.4 %     28.7 %     24.4 %
Earnings per diluted ADS $   0.73   $   0.92   $   0.38   $   0.95   $   1.07   $   0.55  

Other Financial Information

(in millions) 4Q 2016 3Q 2016 4Q 2015
Cash and cash equivalents, and short-term investments $ 277.8 $ 269.2 $ 185.2
Bank loans $ 25.0 $ 35.0   --
Capital expenditures $ 2.5 $ 2.8 $ 14.4
Dividend payments $ 7.1 $ 5.3 $ 5.2
Loan repayments $ 10.0   --   --

During the fourth quarter, we had $2.1 million of capital expenditures for the routine purchase of software and design tools. In this quarter, after loan repayments of $10.0 million, we had $25.0 million of bank loans outstanding.

Our fourth quarter cash flows were as follows:

3 months ended December 31, 2016
    (In $ millions)
Net income (GAAP)   26.2  
Depreciation & amortization   2.7  
Changes in operating assets and liabilities   (3.1
Others   9.0  
Net cash provided by operating activities   34.8  
Acquisition of property and equipment   (2.5
Changes in restricted assets   0.1  
Net cash used in investing activities   (2.4 )
       
Dividend   (7.1 )
Loans   (10.0 )
Net cash used in financing activities   (17.1 )
Effects of changes in foreign currency exchange rates on cash   (1.3 )
Net increase in cash and cash equivalents   14.0  
     

Returning Value to Shareholders
On October 24, 2016, the Board of Directors of the Company declared a $0.80 per ADS annual dividend to be paid in quarterly installments of $0.20 per ADS.  On November 17, 2016, we paid $7.1 million to shareholders as the first installment of our annual dividend. 

Business Outlook
“For full year 2017, we expect sales of our client SSD controllers to continue growing strongly, but NAND flash availability will affect our SSD Solutions,” said Wallace Kou, President and CEO of Silicon Motion. “NAND flash tightness will start affecting our SSD Solutions beginning in the first quarter.  Additionally in the first quarter, our client SSD controllers will decline seasonally, with growth restarting in the following quarter.”

For the first quarter of 2017, management expects:

  GAAP Non-GAAP Adjustment Non-GAAP
Revenue $121m to $128m -- $121m to $128m
  -16% to -11% Q/Q   -16% to -11% Q/Q
  +7% to +14% Y/Y   +7% to +14% Y/Y
Gross margin 48% to 50% Approximately $0.1m* 48% to 50%
Operating margin 20% to 22% Approximately $3.7m to 4.2m** 23% to 25%

* Gross margin (non-GAAP) excludes $0.1 million of stock-based compensation.

** Operating margin (non-GAAP) excludes $0.5 million of amortization of intangible assets, and $3.2 million to $3.7 million of stock-based compensation.

For the full year 2017, management expects:

  GAAP Non-GAAP Adjustment Non-GAAP
Revenue $556m to $612m -- $556m to $612m
  0% to +10% Y/Y   0% to +10% Y/Y
Gross margin 49% to 51% Approximately $0.5m* 49% to 51%
Operating margin 24.4% to 26.4% Approximately $17.2m to 19.2m** 27.5% to 29.5%

* Gross margin (non-GAAP) excludes $0.5 million of stock-based compensation.

** Operating margin (non-GAAP) excludes $2.1 million of amortization of intangible assets, $0.6 million of litigation expense, and $14.5 million to $16.5 million of stock-based compensation.

Conference Call & Webcast:
The Company’s management team will conduct a conference call at 8:00 am Eastern Time on January 24, 2017. 
    Speakers
    Wallace Kou, President & CEO
    Riyadh Lai, CFO
    Jason Tsai, Senior 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: 4750 3600

    REPLAY NUMBERS (for 7 days):
    USA (Toll Free): 1 855 452 5696     
    USA (Toll): 1 646 254 3697    
    Participant Passcode: 4750 3600
A webcast of the call will be available on the Company's website at www.siliconmotion.com

Discussion of Non-GAAP Financial Measures

To supplement the Company’s unaudited selected financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company discloses certain non-GAAP financial measures that exclude stock-based compensation and other items, including gross profit (non-GAAP), operating expenses (non-GAAP), operating profit (non-GAAP), net income (non-GAAP), and earnings per diluted ADS (non-GAAP). These non-GAAP measures are not in accordance with or an alternative to GAAP, and may be different from non-GAAP measures used by other companies.  We believe that these non-GAAP measures have limitations in that they do not reflect all the amounts associated with the Company’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate the Company’s results of operations in conjunction with the corresponding GAAP measures.  The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measure.  We compensate for the limitations of our non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance.

Our non-GAAP financial measures are provided to enhance the user’s overall understanding of our current financial performance and our prospects for the future. Specifically, we believe the non-GAAP results provide useful information to both management and investors as these non-GAAP results exclude certain expenses, gains and losses that we believe are not indicative of our core operating results and because it is consistent with the financial models and estimates published by many analysts who follow the Company.  We use non-GAAP measures to evaluate the operating performance of our business, for comparison with our forecasts, and for benchmarking our performance externally against our competitors.  Also, when evaluating potential acquisitions, we exclude the items described below from our consideration of the target’s performance and valuation.  Since we find these measures to be useful, we believe that our investors benefit from seeing the results from management’s perspective in addition to seeing our GAAP results.  We believe that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering:

  • the ability to make more meaningful period-to-period comparisons of the Company’s on-going operating results;
  • the ability to better identify trends in the Company’s underlying business and perform related trend analysis;
  • a better understanding of how management plans and measures the Company’s underlying business; and
  • an easier way to compare the Company’s operating results against analyst financial models and operating results of our competitors that supplement their GAAP results with non-GAAP financial measures.

The following are explanations of each of the adjustments that we incorporate into our non-GAAP measures, as well as the reasons for excluding each of these individual items in our reconciliation of these non-GAAP financial measures:

Stock-based compensation expense consists of non-cash charges related to the fair value of and restricted stock units awarded to employees. The Company believes that the exclusion of these non-cash charges provides for more accurate comparisons of our operating results to our peer companies due to the varying available valuation methodologies, subjective assumptions and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact of share-based compensation on its operating results.

Amortization of intangibles assets consists of non-cash charges that can be impacted by the timing and magnitude of our acquisitions.  The Company considers its operating results without these charges when evaluating its ongoing performance and forecasting its earnings trends, and therefore excludes such charges when presenting non-GAAP financial measures.  The Company believes that the assessment of its operations excluding these costs is relevant to its assessment of internal operations and comparisons to the performance of its competitors.

Litigation expenses consist of legal expenses relating to intellectual property disputes, commercial claims and other types of litigation. While litigation may arise in the ordinary course of our business, we nevertheless consider litigation to be an unusual and unplanned activity and therefore exclude this charge when presenting non-GAAP financial measures.

Acquisition-related expenses consist of direct costs of acquisitions, such as transaction fees, which vary significantly and are unique to each acquisition. The Company does not acquire businesses on a predictable cycle, so we have excluded the effect of these costs when presenting our non-GAAP financial measures.

Foreign exchange gains and losses consist of translation gains and/or losses of non-US$ denominated current assets and current liabilities, as well as certain other balance sheet items which result from the appreciation or depreciation of non-US$ currencies against the US$. We do not use financial instruments to manage the impact on our operations from changes in foreign exchange rates, and because our operations are subject to fluctuations in foreign exchange rates, we therefore exclude foreign exchange gains and losses when presenting non-GAAP financial measures.

Impairment of long-term investments relates to the other-than-temporary, non-operating write down of the Company's minority stake investments. We do not consider these investments, which were made before 2007, to be strategic and exclude the performance of these investments when evaluating our ongoing performance and forecasting our earnings trends, and therefore excluding losses (and gains) from the investments when presenting non-GAAP financial measures.

Silicon Motion Technology Corporation
Consolidated Statements of Income
(in thousands, except percentages and per ADS data, unaudited)
     
    For the Three Months Ended
    Dec. 31,  2015 
($)
  Sep. 30,  2016 
($)
  Dec. 31, 2016 
($)
Net Sales     98,041       158,580       144,198  
Cost of sales     49,028       81,175       72,080  
Gross profit     49,013       77,405       72,118  
         
Operating expenses        
Research & development     19,281       25,934       26,038  
Sales & marketing     6,136       7,548       5,651  
General & administrative     5,008       4,878       5,048  
Amortization of  intangibles assets     526       526       526  
Operating income     18,062       38,519       34,855  
Non-operating income (expense)                        
                         
Gain on sale of investments     1       -       -  
Interest income, net     455       541       623  
Foreign exchange gain (loss), net     (523 )     (375 )     112  
Impairment of long-term investments     -       -       (13 )
Others, net     -       28       (4 )
Subtotal     (67 )     194       718  
Income before income tax     17,995       38,713       35,573  
Income tax expense     4,614       5,991       9,416  
Net income     13,381       32,722       26,157  
                         
Earnings per basic ADS   $ 0.38     $ 0.93     $ 0.74  
Earnings per diluted ADS   $ 0.38     $ 0.92     $ 0.73  
                         
Margin Analysis:                        
Gross margin     50.0 %     48.8 %     50.0 %
Operating margin     18.4 %     24.3 %     24.2 %
Net margin     13.6 %     20.6 %     18.1 %
         
Additional Data:        
Weighted avg. ADS equivalents2     34,875       35,308       35,324  
Diluted ADS equivalents     35,288       35,539       35,623  
         

 Assumes all outstanding ordinary shares are represented by ADSs.  Each ADS represents four ordinary shares.

Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results
(in thousands, except percentages and per ADS data, unaudited)
 
    For the Three Months Ended
    Dec. 31,
2015
 ($)
  Sep. 30, 
2016

($)
  Dec. 31, 
2016

($)
Gross profit (GAAP)     49,013       77,405       72,118  
  Gross margin (GAAP)     50.0 %     48.8 %     50.0 %
                         
Stock-based compensation expense(A)     132       156       199  
                         
Gross profit (non-GAAP)     49,145       77,561       72,317  
  Gross margin (non-GAAP)     50.1 %     48.9 %     50.2 %
         
Operating expenses (GAAP)     30,951       38,886       37,263  
Stock-based compensation expense (A)     (5,091 )     (6,320 )     (8,228 )
Amortization of intangible assets     (526 )     (526 )     (526 )
Litigation expense     (36 )     (1 )     (2 )
Acquisition-related expense     (38 )     -       -  
Operating expenses (non-GAAP)     25,260       32,039       28,507  
         
Operating profit (GAAP)     18,062       38,519       34,855  
  Operating margin (GAAP)     18.4 %     24.3 %     24.2 %
Total adjustments to operating profit     5,823       7,003       8,955  
Operating profit (non-GAAP)     23,885       45,522       43,810  
  Operating margin (non-GAAP)     24.4 %     28.7 %     30.4 %
         
Non-operating income (expense) (GAAP)     (67 )     194       718  
Foreign exchange loss (gain), net     523       375       (112 )
Impairment of long-term investments     -       -       13  
Non-operating income (expense) (non-GAAP)     456       569       619  
         
Net income (GAAP)     13,381       32,722       26,157  
Total pre-tax impact of non-GAAP adjustments     6,346       7,378       8,856  
Income tax impact of non-GAAP adjustments     (76 )     (1,768 )     (1,147 )
Net income (non-GAAP)     19,651       38,332       33,866  
         
Earnings per diluted ADS (GAAP)   $ 0.38     $ 0.92     $ 0.73  
Earnings per diluted ADS (non-GAAP)   $ 0.55     $ 1.07     $ 0.95  
         
Shares used in computing earnings per diluted ADS (GAAP)     35,288       35,539       35,623  
Non-GAAP Adjustments     205       244       201  
Shares used in computing earnings per diluted ADS (non-GAAP)     35,493       35,783       35,824  
         
(A)  Excludes stock-based compensation as follows:        
                         
Cost of Sales     132       156       199  
Research & development     3,323       4,009       5,076  
Sales & marketing     859       1,038       1,476  
General & administrative     909       1,273       1,676  
                         


Silicon Motion Technology Corporation
Consolidated Statements of Income
(in thousands, except percentages, and per ADS data, unaudited)
   
    For the Year Ended
    Dec. 31, 2015 
($)
  Dec. 31, 2016 
($)
Net Sales     361,297       556,146  
Cost of sales     176,765       281,541  
Gross profit     184,532       274,605  
Operating expenses                
Research & development     71,161       92,405  
Sales & marketing     20,173       25,765  
General & administrative     15,714       17,072  
Amortization of  intangibles assets     1,051       2,103  
Operating income     76,433       137,260  
                 
Non-operating expense (income)                
Gain on sale of investments     3       2  
Interest income, net     1,978       2,031  
Foreign exchange gain (loss), net     76       (692 )
Impairment of long-term investments     -       (13 )
Others, net     10       42  
Subtotal     2,067       1,370  
Income before income tax     78,500       138,630  
Income tax expense     18,249       27,690  
Net income     60,251       110,940  
                 
Earnings per basic ADS   $ 1.75     $ 3.15  
Earnings per diluted ADS   $ 1.73     $ 3.12  
                 
Margin Analysis:                
Gross margin     51.1 %     49.4 %
Operating margin     21.2 %     24.7 %
Net margin     16.7 %     20.0 %
                 
Additional Data:                
Weighted avg. ADS equivalents     34,525       35,230  
Diluted ADS equivalents     34,909       35,513  
                 


Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results
(in thousands, except percentages and per ADS data, unaudited)
 
    For the Year Ended
    Dec. 31, 2015
($)
  Dec. 31, 2016
($)
Gross profit (GAAP)     184,532       274,605  
  Gross margin (GAAP)     51.1 %     49.4 %
                 
Stock-based compensation expense(A)     262       400  
                 
Gross profit (non-GAAP)     184,794       275,005  
  Gross margin (non-GAAP)     51.2 %     49.4 %
       
Operating expenses (GAAP)     108,099       137,345  
Stock-based compensation expense (A)     (10,157 )     (16,964 )
Amortization of intangible assets     (1,051 )     (2,103 )
Litigation expense     (128 )     (52 )
Acquisition-related expense     (358 )     -  
Operating expenses (non-GAAP)     96,405       118,226  
       
Operating profit (GAAP)     76,433       137,260  
  Operating margin (GAAP)     21.2 %     24.7 %
Total adjustments to operating profit     11,956       19,519  
Operating profit (non-GAAP)     88,389       156,779  
  Operating margin (non-GAAP)     24.5 %     28.2 %
       
Non-operating income (expense) (GAAP)     2,067       1,370  
Foreign exchange loss (gain), net     (76 )     692  
Impairment of long-term investments     -       13  
Non-operating income (expense) (non-GAAP)     1,991       2,075  
       
Net income (GAAP)     60,251       110,940  
Total pre-tax impact of non-GAAP adjustments     11,880       20,224  
Income tax impact of non-GAAP adjustments     1,908       (1,171 )
Net income (non-GAAP)     74,039       129,993  
       
Earnings per diluted ADS (GAAP)   $ 1.73     $ 3.12  
Earnings per diluted ADS (non-GAAP)   $ 2.11     $ 3.64  
       
Shares used in computing earnings per diluted ADS (GAAP)     34,909       35,513  
Non-GAAP Adjustments     158       155  
Shares used in computing earnings per diluted ADS (non-GAAP)     35,067       35,668  
       
(A)  Excludes stock-based compensation as follows:      
                 
Cost of Sales     262       400  
Research & development     6,565       10,529  
Sales & marketing     1,790       3,122  
General & administrative     1,802       3,313  
                 


Silicon Motion Technology Corporation
Consolidated Balance Sheet
(In thousands, unaudited)
             
    Dec. 31,
2015
 ($)
  Sep. 30,
2016
 ($)
  Dec. 31,
2016
 ($)
Cash and cash equivalents   180,519   260,468   274,483
Short-term investments   4,681   8,683   3,302
Accounts receivable (net)   58,963   61,800   73,599
Inventories   47,110   79,728   71,873
Refundable deposits – current   19,328   44,289   44,393
Prepaid expenses and other current assets   4,575   6,392   9,236
Total current assets   315,176   461,360   476,886
Long-term investments   133   133   120
Property and equipment (net)   50,469   48,726   47,892
Goodwill and intangible assets (net)   75,990   74,423   73,883
Other assets   3,860   11,033   7,231
Total assets   445,628   595,675   606,012
             
Accounts payable   22,541   38,207   31,739
Loans   -   35,000   25,000
Income tax payable   13,395   22,148   20,271
Accrued expenses and other current liabilities   52,351   73,308   68,960
Total current liabilities   88,287   168,663   145,970
Other liabilities   12,843   16,766   17,319
Total liabilities   101,130   185,429   163,289
Shareholders’ equity   344,498   410,246   442,723
Total liabilities & shareholders’ equity   445,628   595,675   606,012
             

About Silicon Motion:
We are the global leader in supplying NAND flash controllers for solid state storage devices and the merchant leader in supplying SSD controllers.  We have the broadest portfolio of controller technologies and solutions and ship over 750 million NAND controllers annually, more than any other company in the world.  Our controllers are widely used in embedded storage products such as SSDs and eMMCs which are found in smartphones, PCs and industrial and commercial applications.  We also supply specialized high-performance hyperscale datacenter and industrial SSD solutions.  Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs.  For further information on Silicon Motion, visit us at www.siliconmotion.com.

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 currently expected first quarter of 2017 and full year 2017 revenue, gross margin and operating expenses, all of which reflect management’s estimates based on information available at this 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 first quarter of 2017 and full year 2017. 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 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; decreases in the overall average selling prices of our products; changes in the relative sales mix of our products; our ability to continue to successfully integrate our 2015 acquisition of Shannon Systems; changes in our cost of finished goods; the payment, or non-payment, of cash dividends, including our recently announced increase to our annual dividend, in the future at the discretion of our board of directors; 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, 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 29, 2016.  We assume no obligation to update any forward-looking statements, which apply only as of the date of this press release.

Investor Contact:
Jason Tsai
Senior Director of IR and Strategy
E-mail: jtsai@siliconmotion.com

Investor Contact:
Selina Hsieh
Investor Relations
E-mail: ir@siliconmotion.com

Media Contact:
Sara Hsu
Project Manager
E-mail: sara.hsu@siliconmotion.com

 

 

 

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