| Silicon Motion Technology Corporation
Consolidated Statements of Income (in thousands, except percentages, and per ADS data, unaudited) | |||||||
| For the Year Ended | |||||||
|
Dec. 31, 2016
( $) |
Dec. 31, 2017
( $) | ||||||
| Net Sales | 556,146 | 523,404 | |||||
| Cost of sales | 281,541 | 272,210 | |||||
| Gross profit | 274,605 | 251,194 | |||||
| Operating expenses | |||||||
| Research & development | 92,405 | 102,053 | |||||
| Sales & marketing | 25,765 | 25,868 | |||||
| General & administrative | 17,072 | 16,933 | |||||
| Amortization of intangibles assets | 2,103 | 2,456 | |||||
| Impairment loss of goodwill | - | 10,337 | |||||
| Gain from disposal of other assets | - | (1,880 | ) | ||||
| Operating income | 137,260 | 95,427 | |||||
| Non-operating expense (income) | |||||||
| Interest income, net | 2,031 | 3,845 | |||||
| Foreign exchange gain (loss), net | (692 | ) | (157 | ) | |||
| Impairment of long-term investments | (13 | ) | (120 | ) | |||
| Others, net | 44 | 84 | |||||
| Subtotal | 1,370 | 3,652 | |||||
| Income before income tax | 138,630 | 99,079 | |||||
| Income tax expense | 27,690 | 24,046 | |||||
| Net income | 110,940 | 75,033 | |||||
| Earnings per basic ADS | $ | 3.15 | $ | 2.10 | |||
| Earnings per diluted ADS | $ | 3.12 | $ | 2.09 | |||
| Margin Analysis: | |||||||
| Gross margin | 49.4 | % | 48.0 | % | |||
| Operating margin | 24.7 | % | 18.2 | % | |||
| Net margin | 20.0 | % | 14.3 | % | |||
| Additional Data: | |||||||
| Weighted avg. ADS equivalents | 35,230 | 35,684 | |||||
| Diluted ADS equivalents | 35,513 | 35,902 | |||||
