HONG KONG (AP) — HONG KONG (AP) — Silicon Motion Technology Corp. (SIMO) on Tuesday reported fourth-quarter earnings of $23.5 million.
The Hong Kong-based company said it had net income of 71 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, were $1.22 per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The chip company posted revenue of $200.8 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $251.8 million.
For the year, the company reported profit of $172.5 million, or $5.17 per share. Revenue was reported as $945.9 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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