HONG KONG (AP) — HONG KONG (AP) — Silicon Motion Technology Corp. (SIMO) on Tuesday reported fourth-quarter net income of $47.7 million.
On a per-share basis, the Hong Kong-based company said it had net income of $1.41. Earnings, adjusted for non-recurring gains, were $1.26 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The chip company posted revenue of $278.5 million in the period, beating Street forecasts. Five analysts surveyed by Zacks expected $261.2 million.
For the year, the company reported profit of $122.6 million, or $3.64 per share. Revenue was reported as $885.6 million.
For the current quarter ending in March, Silicon Motion said it expects revenue in the range of $292 million to $306 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIMO at https://www.zacks.com/ap/SIMO
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