| Silicon Motion Technology Corporation | |||||||
| Consolidated Statements of Income | |||||||
| (in thousands, except percentages, and per ADS data, unaudited) | |||||||
| For the Year Ended | |||||||
| Dec. 31, | Dec. 31, | ||||||
| 2014 | 2015 | ||||||
| ( $) | ( $) | ||||||
| Net Sales | 289,323 | 361,297 | |||||
| Cost of sales | 139,625 | 176,765 | |||||
| Gross profit | 149,698 | 184,532 | |||||
| Operating expenses | |||||||
| Research & development | 60,949 | 71,157 | |||||
| Sales & marketing | 16,324 | 20,173 | |||||
| General & administrative | 13,355 | 15,718 | |||||
| Amortization of intangibles assets | - | 1,052 | |||||
| Operating income | 59,070 | 76,432 | |||||
| Non-operating expense (income) | |||||||
| Gain on sale of investments | 4 | 3 | |||||
| Interest income, net | 2,101 | 1,979 | |||||
| Foreign exchange gain (loss), net | (606 | ) | 76 | ||||
| Others, net | (1 | ) | 9 | ||||
| Subtotal | 1,498 | 2,067 | |||||
| Income before income tax | 60,568 | 78,499 | |||||
| Income tax expense | 16,101 | 18,219 | |||||
| Net income | 44,467 | 60,280 | |||||
| Basic earnings per ADS | $ | 1.32 | $ | 1.75 | |||
| Diluted earnings per ADS | $ | 1.30 | $ | 1.73 | |||
| Margin Analysis: | |||||||
| Gross margin | 51.7 | % | 51.1 | % | |||
| Operating margin | 20.4 | % | 21.2 | % | |||
| Net margin | 15.4 | % | 16.7 | % | |||
| Additional Data: | |||||||
| Weighted avg. ADS equivalents | 33,651 | 34,525 | |||||
| Diluted ADS equivalents | 34,197 | 34,909 | |||||
Silicon Motion Announces Results for the Period Ended December 31, 2015
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