Silicon Motion Announces Results for the Period Ended December

Silicon Motion Announces Results for the Period Ended December 31, 2017


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, 2016 ($)			Dec. 31, 2017 ( $)
Gross profit (GAAP)		274,605			251,194
*Gross margin (GAAP)*		49.4	%		48.0	%
Stock-based compensation expense(A)		400			293
Gross profit (non-GAAP)		275,005			251,487
*Gross margin (non-GAAP)*		49.4	%		48.0	%

Operating expenses (GAAP)		137,345			155,767
Stock-based compensation expense (A)		(16,964	)		(15,200	)
Amortization of intangible assets		(2,103	)		(2,456	)
Impairment loss of goodwill		-			(10,337	)
Litigation expense		(52	)		-
Operating expenses (non-GAAP)		118,226			127,774

Operating profit (GAAP)		137,260			95,427
*Operating margin (GAAP)*		24.7	%		18.2	%
Total adjustments to operating profit		19,519			28,286
Operating profit (non-GAAP)		156,779			123,713
*Operating margin (non-GAAP)*		28.2	%		23.6	%

Non-operating income (expense) (GAAP)		1,370			3,652
Foreign exchange loss (gain), net		692			157
Impairment of long-term investments		13			120
Non-operating income (expense) (non-GAAP)		2,075			3,929

Net income (GAAP)		110,940			75,033
Total pre-tax impact of non-GAAP adjustments		20,224			28,563
Income tax impact of non-GAAP adjustments		(1,171	)		(2,306	)
Net income (non-GAAP)		129,993			101,290

Earnings per diluted ADS (GAAP)	$	3.12		$	2.09
Earnings per diluted ADS (non-GAAP)	$	3.64		$	2.81

Shares used in computing earnings per diluted ADS (GAAP)		35,513			35,902
Non-GAAP Adjustments		155			107
Shares used in computing earnings per diluted ADS (non-GAAP)		35,668			36,009

(A) Excludes stock-based compensation as follows:
Cost of Sales		400			293
Research & development		10,529			9,255
Sales & marketing		3,122			3,166
General & administrative		3,313			2,779

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