TAIPEI (dpa-AFX) - Silicon Motion Technology Corp. (SIMO) reported earnings for third quarter that decreased from last year but beat the Street estimates.
The company's earnings came in at $10.59 million, or $0.32 per share. This compares with $42.89 million, or $1.29 per share, in last year's third quarter.
Excluding items, Silicon Motion Technology Corp. reported adjusted earnings of $21.06 million or $0.63 per share for the period.
Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 31.3% to $172.3 million from $250.8 million last year.
Silicon Motion Technology Corp. earnings at a glance (GAAP) :
-Earnings (Q3): $10.59 Mln. vs. $42.89 Mln. last year. -EPS (Q3): $0.32 vs. $1.29 last year. -Analyst Estimates: $0.61 -Revenue (Q3): $172.3 Mln vs. $250.8 Mln last year.
-Guidance: Next quarter revenue guidance: $190m to $198m
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