Silicon Motion Technology Corporation Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings Guidance for the First Quarter and Full Year of 2017
For the full year, the company reported net sales of $556.146 million against $361.297 million a year ago. Operating income was $137.260 million against $76.433 million a year ago. Income before income tax was $138.630 million against $78.500 million a year ago. Net income was $110.940 million or $3.12 per diluted ADS against $60.251 million or $1.73 per diluted ADS a year ago. Operating profit (non-GAAP) was $156.779 million against $88.389 million a year ago. Non-operating income (non-GAAP) was $2.075 million against $1.991 million a year ago. Net income (non-GAAP) was $129.993 million or $3.64 per diluted ADS against $74.039 million or $2.11 per diluted ADS a year ago.
The company provided earnings guidance for the first quarter and full year of 2017. For the quarter, the company expects GAAP revenue in the range of $121 million to $128 million, gross margin in the range of 48% to 50% and operating margin in the range of 20% to 22% and non-GAAP revenue in the range of $121 million to $128 million, gross margin in the range of 48% to 50% and operating margin in the range of 23% to 25%.
For the full year of 2017, the company expects GAAP revenue in the range of $556 million to $612 million, gross margin in the range of 49% to 51% and operating margin in the range of 24.4% to 26.4% and non-GAAP revenue in the range of $556 million to $612 million, gross margin in the range of 49% to 51% and operating margin in the range of 27.5% to 29.5%.