| Silicon Motion Technology Corporation | ||||||||
| Consolidated Statements of Income | ||||||||
| (in thousands, except percentages, and per ADS data, unaudited) | ||||||||
|
For the Year Ended
| ||||||||
|
Dec. 31, 2015
( $) |
Dec. 31, 2016
( $) | |||||||
| Net Sales | 361,297 | 556,146 | ||||||
| Cost of sales | 176,765 | 281,541 | ||||||
| Gross profit | 184,532 | 274,605 | ||||||
| Operating expenses | ||||||||
| Research & development | 71,161 | 92,405 | ||||||
| Sales & marketing | 20,173 | 25,765 | ||||||
| General & administrative | 15,714 | 17,072 | ||||||
| Amortization of intangibles assets | 1,051 | 2,103 | ||||||
| Operating income | 76,433 | 137,260 | ||||||
| Non-operating expense (income) | ||||||||
| Gain on sale of investments | 3 | 2 | ||||||
| Interest income, net | 1,978 | 2,031 | ||||||
| Foreign exchange gain (loss), net | 76 | (692 | ) | |||||
| Impairment of long-term investments | - | (13 | ) | |||||
| Others, net | 10 | 42 | ||||||
| Subtotal | 2,067 | 1,370 | ||||||
| Income before income tax | 78,500 | 138,630 | ||||||
| Income tax expense | 18,249 | 27,690 | ||||||
| Net income | 60,251 | 110,940 | ||||||
| Earnings per basic ADS | $ | 1.75 | $ | 3.15 | ||||
| Earnings per diluted ADS | $ | 1.73 | $ | 3.12 | ||||
| Margin Analysis: | ||||||||
| Gross margin | 51.1 | % | 49.4 | % | ||||
| Operating margin | 21.2 | % | 24.7 | % | ||||
| Net margin | 16.7 | % | 20.0 | % | ||||
| Additional Data: | ||||||||
| Weighted avg. ADS equivalents | 34,525 | 35,230 | ||||||
| Diluted ADS equivalents | 34,909 | 35,513 | ||||||
Silicon Motion Announces Results for the Period Ended December 31, 2016
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