On Oct. 27, fabless semiconductor designer Silicon Motion Technology (NASDAQ:SIMO) released third-quarter earnings for the period ended Sept. 30, 2006.
- Management says it saw "fairly strong demand" for controllers used in flash memory cards and in USB flash disk drives.
- The Taiwan-based company expects $33 million-$34 million in sales for the fourth quarter, and gross margins of 52%-53%.
- The stock carries a three-star rating in Motley Fool CAPS.
(Figures in thousands, except per-share data)
Income Statement Highlights
|
Q3 2006 |
Q3 2005 |
Change | |
|---|---|---|---|
|
Sales |
$31,645 |
$23,131 |
36.8% |
|
Net Profit |
$8,831 |
$6,661 |
32.6% |
|
EPS |
$0.30 |
$0.20 |
50.0% |
|
Diluted Shares |
31,336 |
31,389 |
(0.2%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q3 2006 |
Q3 2005 |
Change* | |
|---|---|---|---|
|
Gross Margin |
53.48% |
52.25% |
1.23 |
|
Operating Margin |
28.02% |
27.80% |
0.22 |
|
Net Margin |
27.91% |
28.80% |
(0.89) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$94,100 |
$78,900 |
19.3% |
|
Accounts Rec. |
$24,400 |
$14,400 |
69.4% |
|
Inventory |
$9,600 |
$7,000 |
37.1% |
|
Liabilities |
Q3 2006 |
Q3 2005 |
Change |
|---|---|---|---|
|
Accounts Payable |
$11,772 |
$10,660 |
10.4% |
|
Long-Term Debt |
-- |
-- |
-- |
Learn the ways of the balance sheet.
Cash Flow Highlights
Not only is the company fabless, it is also cash-flow-statement-less.
Find out why Fools always follow the money.
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