TAIPEI (dpa-AFX) - Silicon Motion Technology Corp. (SIMO) reported earnings for first quarter that decreased from last year and missed the Street estimates.
The company's bottom line totaled $10.15 million, or $0.30 per share. This compares with $54.50 million, or $1.60 per share, in last year's first quarter.
Excluding items, Silicon Motion Technology Corp. reported adjusted earnings of $11.16 million or $0.33 per share for the period.
Analysts on average had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 48.7% to $124.1 million from $242.0 million last year.
Silicon Motion Technology Corp. earnings at a glance (GAAP) :
-Earnings (Q1): $10.15 Mln. vs. $54.50 Mln. last year. -EPS (Q1): $0.30 vs. $1.60 last year. -Analyst Estimates: $0.70 -Revenue (Q1): $124.1 Mln vs. $242.0 Mln last year.
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