Unrealized holding loss (gain) on investments relates to the difference between market value and cost of long-term investments.
| Silicon Motion Technology Corporation
Consolidated Statements of Income (in thousands, except percentages and per ADS data, unaudited) | |||||||||||||||
| For Three Months Ended | For the Year Ended | ||||||||||||||
| Sep. 30, | Jun. 30, | Sep. 30, | Sep. 30, | Sep. 30, | |||||||||||
| 2022 | 2023 | 2023 | 2022 | 2023 | |||||||||||
| ($) | ($) | ($) | ($) | ($) | |||||||||||
| Net Sales | 250,812 | 140,361 | 172,333 | 745,163 | 436,763 | ||||||||||
| Cost of sales | 131,691 | 83,938 | 99,193 | 366,304 | 254,897 | ||||||||||
| Gross profit | 119,121 | 56,423 | 73,140 | 378,859 | 181,866 | ||||||||||
| Operating expenses | |||||||||||||||
| Research & development | 47,727 | 41,336 | 41,740 | 136,607 | 117,926 | ||||||||||
| Sales & marketing | 9,375 | 7,248 | 6,862 | 25,908 | 20,715 | ||||||||||
| General & administrative | 6,949 | 6,021 | 8,939 | 27,098 | 20,323 | ||||||||||
| Loss from settlement of litigation | (300 | ) | - | 591 | 400 | 591 | |||||||||
| Operating income | 55,370 | 1,818 | 15,008 | 188,846 | 22,311 | ||||||||||
| Non-operating income (expense) | |||||||||||||||
| Interest income, net | 750 | 2,736 | 3,480 | 1,375 | 8,026 | ||||||||||
| Foreign exchange gain (loss), net | (2,293 | ) | 1,223 | 569 | (4,318 | ) | 2,030 | ||||||||
| Unrealized holding gain(loss) on investments | - | 6,135 | (2,828 | ) | - | 8,053 | |||||||||
| Others, net | - | - | - | 1 | - | ||||||||||
| Subtotal | (1,543 | ) | 10,094 | 1,221 | (2,942 | ) | 18,109 | ||||||||
| Income before income tax | 53,827 | 11,912 | 16,229 | 185,904 | 40,420 | ||||||||||
| Income tax expense | 10,936 | 868 | 5,642 | 36,929 | 8,639 | ||||||||||
| Net income | 42,891 | 11,044 | 10,587 | 148,975 | 31,781 | ||||||||||
| Earnings per basic ADS | 1.30 | 0.33 | 0.32 | 4.47 | 0.95 | ||||||||||
| Earnings per diluted ADS | 1.29 | 0.33 | 0.32 | 4.45 | 0.95 | ||||||||||
| Margin Analysis: | |||||||||||||||
| Gross margin | 47.5 | % | 40.2 | % | 42.4 | % | 50.8 | % | 41.6 | % | |||||
| Operating margin | 22.1 | % | 1.3 | % | 8.7 | % | 25.3 | % | 5.1 | % | |||||
| Net margin | 17.1 | % | 7.9 | % | 6.1 | % | 20.0 | % | 7.3 | % | |||||
| Additional Data: | |||||||||||||||
| Weighted avg. ADS equivalents | 33,050 | 33,409 | 33,413 | 33,325 | 33,332 | ||||||||||
| Diluted ADS equivalents | 33,140 | 33,438 | 33,471 | 33,448 | 33,431 | ||||||||||
