TAIPEI, Taiwan and MILPITAS, Calif., Oct. 08, 2024 — Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion” or the “Company”), a global leader in NAND flash controllers for solid state storage devices, reports that preliminary third quarter financial results indicate sequential revenue growth exceeding the midpoint of its original guidance range of $205 million to $216 million, as announced on August 2, 2024. Non-GAAP gross margin is projected to fall within the upper half of the company’s original 46.0% to 47.0% guidance range.
The Company will unveil its third quarter 2024 financial results after the market closes on October 30, 2024, followed by a conference call on October 31 at 8:00 a.m. Eastern Time. To participate in the live call, pre-registration is mandatory via the provided link.
CONFERENCE CALL DETAILS:
Advance registration is required to join the conference call using the link provided below. Conference access information, including dial-in details and a unique access PIN, will be communicated via email upon registration.
Participant Online Registration:
This call will be webcasted on the Company’s website at .
ABOUT SILICON MOTION:
We are the global leader in supplying NAND flash controllers for solid state storage devices. We supply more SSD controllers than any other company in the world for servers, PCs and other client devices and are the leading merchant supplier of eMMC and UFS embedded storage controllers used in smartphones, IoT devices and other applications. We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit us at .
FORWARD-LOOKING STATEMENTS:
This press release includes “forward-looking statements” as defined under Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or their negative counterparts, or similar terminology. While these statements are based on information we consider reliable, including our own and from other sources, excessive reliance on them is discouraged. These statements entail risks and uncertainties, potentially leading to substantial discrepancies between actual market trends or operational outcomes, financial condition, or business prospects and those expressed or implied in these forward-looking statements. Such discrepancies may arise from numerous factors, including but not limited to:
– Unpredictable customer order volumes and timing, which are not contractually fixed but fluctuate on a purchase order basis.
– Loss of one or more key customers or substantial reductions, postponements, reschedulings, or cancellations of orders from one or more customers.
– General economic conditions or conditions within the semiconductor or consumer electronics markets.
– Inflation’s impact on our business and customer’s businesses, including any effect on economic activity in our operating markets.
– Functionalities and performance of our information technology (“IT”) systems, which are vulnerable to cybersecurity threats and support our critical operational activities, and any breaches of our IT systems or those of our customers, suppliers, partners, and providers of third-party licensed technology.
– Effects on our business and our customer’s business considering the ongoing U.S.-China tariffs and trade disputes.
– Uncertainties associated with any future global or regional pandemic.
– Persistent tensions between Taiwan and China, including intensified military activities.
– Decreases in the overall average selling prices of our products.
– Alterations in the relative sales mix of our products.
– Fluctuations in our cost of finished goods.
– Supply chain disruptions that have impacted us and our industry, as well as other industries globally.
– Future cash dividend payments, or non-payments, at the discretion of our board of directors, including any announced planned dividend increases.
– Changes in our cost of finished goods.
– Availability, pricing, and timeliness of delivery of other components and raw materials used in our products, given the current raw material supply shortages prevalent in our industry.
– Our customers’ sales outlook, purchasing patterns, and inventory adjustments based on consumer demands and general economic conditions.
– Any potential impairment charges that may be incurred related to businesses previously acquired or divested in the future.
– Our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner.
– The timing of new product announcements or introductions by us or by our competitors.
For a more comprehensive discussion of these risks and uncertainties, along with other factors, please refer to the documents we periodically file with the U.S. Securities and Exchange Commission, including our Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission on April 30, 2024. Except as mandated by securities laws, we have no intention, nor do we assume any obligation, to update or revise any forward-looking statements, which apply exclusively as of the date of this press release.
Investor Contacts: | |
Tom Sepenzis | Selina Hsieh |
Senior Director of IR & Strategy | Investor Relations |
tsepenzis@siliconmotion.com | ir@siliconmotion.com |