| Silicon Motion Announces Results for the Period Ended December 31, 2021 |
NEWS RELEASE
Financial Highlights
| 4Q 2021 GAAP | 4Q 2021 Non-GAAP | |||
• Net sales | $264.4 million (+4% Q/Q, +84% Y/Y) | $264.4 million (+4% Q/Q, +84% Y/Y) | ||
• Gross margin | 49.6% | 49.9% | ||
• Operating margin | 27.3% | 30.9% | ||
• Earnings per diluted ADS | $1.73 | $1.90 | ||
| Full Year 2021 GAAP | Full Year 2021 Non-GAAP | |||
• Net sales | $922.1 million (+71% Y/Y) | $922.1 million (+71% Y/Y) | ||
• Gross margin | 50.0% | 50.4% | ||
• Operating margin | 26.7% | 29.2% | ||
• Earnings per diluted ADS | $5.71 | $6.21 |
Business Highlights
| • | Achieved all-time records for full-year revenue and earnings per share |
| • | Sales of SSD controllers reached new record quarterly high |
| • | SSD controller sales: 4Q increased 15% to 20% Q/Q and FY2021 increased 75% to 80% Y/Y |
| • | eMMC+UFS controller sales: 4Q declined 5% to 10% Q/Q and FY2021 increased 105% to 110% Y/Y |
| • | SSD solutions sales: 4Q increased 5% to 10% Q/Q and FY2021 declined 5% to 10% Y/Y |
| • | Increased annual dividend by 43% to $2.00 per ADS |
| • | Announced new $200 million 6-month share repurchase program and repurchased $50 million |
TAIPEI, Taiwan and MILPITAS, Calif., January 27, 2022 - Silicon Motion Technology Corporation (NasdaqGS: SIMO) ("Silicon Motion" or the "Company") today announced its financial results for the quarter ended December 31, 2021. For the fourth quarter, net sales (GAAP) increased sequentially to $264.4 million from $254.2 million in third quarter 2021. Net income (GAAP) increased to $60.6 million or $1.73 per diluted ADS (GAAP) from a net income (GAAP) of $55.4 million or $1.58 per diluted ADS (GAAP) in third quarter 2021.
For the fourth quarter, net income (non-GAAP) increased to $67.5 million or $1.90 per diluted ADS (non-GAAP) from a net income (non-GAAP) of $60.4 million or $1.70 per diluted ADS (non-GAAP) in third quarter 2021.
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