Silicon Motion Technology Q2 Profit Down

(RTTNews) - Silicon Motion Technology Corp. (SIMO) reported that its second-quarter net income declined to $26.48 million or $0.75 per ADS from $30.73 million or $0.85 per ADS last year.

Non-GAAP net income declined to $18.6 million or $0.52 per ADS from $0.92 per ADS in the prior year.

Revenue for the quarter dropped to $98.8 million from $138.1 million last year.

For the third quarter of 2019, the company expects revenue to be in the range of $104 million to $108 million.

The company projects revenue to be in the range of $420 million to $428 million for fiscal year 2019.