Silicon Motion Announces Results for the Period Ended December

Silicon Motion Announces Results for the Period Ended December 31, 2015

Silicon Motion Technology Corporation
Reconciliation of GAAP to Non-GAAP Operating Results
(in thousands, except percentages and per ADS data, unaudited)

	For the Year Ended
	Dec. 31,			Dec. 31,
		2014			2015
	( $)			( $)
GAAP net income		44,467			60,280
Stock-based compensation:
Cost of sales		282			261
Research and development		6,760			6,591
Sales and marketing		1,740			1,801
General and administrative		1,542			1,811
Total stock-based compensation		10,324			10,464

Non-recurring items:
Litigation expenses		190			104
Acquisition costs		30			358
Amortization of intangibles assets		-			1,052
Foreign exchange loss (gain), net		3,499			1,812

Non-GAAP net income		58,510			74,070

Shares used in computing non-GAAP diluted earnings per ADS		34,377			35,067

Non-GAAP diluted earnings per ADS	$	1.70		$	2.11

Non-GAAP gross margin		51.8	%		51.2	%
Non-GAAP operating margin		24.1	%		24.5	%


Silicon Motion Technology Corporation
Consolidated Balance Sheet
(In thousands, unaudited)

	Dec. 31,	Sep. 30,	Dec. 31,
	2014	2015	2015
	( US$ )	( $ )	( $ )
Cash and cash equivalents	194,211	182,984	180,519
Short-term investments	703	679	4,681
Accounts receivable (net)	28,742	56,432	58,963
Inventories	44,076	50,176	47,110
Refundable deposits - current	19,322	19,531	19,328
Prepaid expenses and other current assets	3,386	4,244	4,578
Total current assets	290,440	314,046	315,179

Long-term investments	133	133	133
Property and equipment (net)	35,537	38,322	50,469
Goodwill and intangible assets(net)	35,467	76,528	75,990
Other assets	4,957	3,945	3,859
Total assets	366,534	432,974	445,630

Accounts payable	14,246	14,077	22,766
Income tax payable	17,696	21,791	13,099
Accrued expenses and other current liabilities	24,125	41,887	42,165
Total current liabilities	56,067	77,755	78,030
Other liabilities	6,367	8,338	7,376
Total liabilities	62,434	86,093	85,406
Shareholders’ equity	304,100	346,881	360,224
Total liabilities & shareholders’ equity	366,534	432,974	445,630

About Silicon Motion:

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 Next Page »