Why Silicon Image Shares Jumped Briefly (SIMG)

Why Silicon Image Shares Jumped Briefly

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Silicon Image (NASDAQ: SIMG ) jumped briefly today, up by 11% this morning before giving back gains, after the company reported earnings.

So what: Revenue in the fourth quarter came in at $59.6 million, with non-GAAP net income of $6.2 million, or $0.08 per share. The top line was on target with the consensus estimate, while the bottom line profit was about double what investors were expecting.

Now what: CEO Camillo Martino said that adjusted profits exceeded internal expectations, while Silicon Image saw several milestones during the full year. The company shipped almost 200 million product units, including 140 million units destined for smartphones and tablets. For the current quarter, guidance calls for sales in the range of $59 million to $61 million.

Interested in more info on Silicon Image? Add it to your watchlist by clicking here.

A fresh idea for 2013
The Motley Fool's chief investment officer has selected his No. 1 stock for the next year. Find out which stock it is in our brand-new free report: "The Motley Fool's Top Stock for 2013." I invite you to take a copy, free for a limited time. Just click here to access the report and find out the name of this under-the-radar company.

Jeff Fischer and team have demystified options. And they can rack up income like $1,030... $2,626... and $3,228 on a schedule you can set your watch by!
That's why we're glad to announce every single one of their closely guarded strategies is available to YOU during May and June – 100% FREE, no strings attached! Just enter your email address in the box below...

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.