Silicon Motion Technology Q4 Profit Down

(RTTNews) - Silicon Motion Technology Corp. (SIMO) reported that its fourth-quarter net income declined to $1.35 million or $0.04 per ADS from $25.43 million or $0.73 per ADS in the previous year.

Non-GAAP net income was $0.86 per ADS compared to $0.96 per ADS in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.71 per share for the quarter. Analysts' estimates typically exclude special items. Quarterly net sales declined to $143.90 million from $153.20 million in the prior year. Analysts expected revenue of $139.94 million for the quarter.

For the first quarter of 2021, the company expects revenue to be in the range of $154 million to $161 million.

For the full year 2021, the company projects revenue to be in the range of $650 million to $700 million.