TAIPEI (dpa-AFX) - Silicon Motion Technology Corp. (SIMO) announced a profit for fourth quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings totaled $42.89 million, or $0.71 per share. This compares with $60.63 million, or $1.73 per share, in last year's fourth quarter.
Excluding items, Silicon Motion Technology Corp. reported adjusted earnings of $41.05 million or $1.22 per share for the period.
Analysts on average had expected the company to earn $1.66 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 24.1% to $200.8 million from $264.4 million last year.
Silicon Motion Technology Corp. earnings at a glance (GAAP) :
-Earnings (Q4): $42.89 Mln. vs. $60.63 Mln. last year. -EPS (Q4): $0.71 vs. $1.73 last year. -Analyst Estimates: $1.66 -Revenue (Q4): $200.8 Mln vs. $264.4 Mln last year.
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