| Silicon Motion Technology Corporation
Consolidated Statements of Income (in thousands, except percentages, and per ADS data, unaudited) | ||||
| For the Nine Months Ended | ||||
|
Sep. 30, 2017
( $) |
Sep. 30,2018
( $) | |||
| Net Sales | 387,239 | 406,962 | ||
| Cost of sales | 199,332 | 208,252 | ||
| Gross profit | 187,907 | 198,710 | ||
| Operating expenses | ||||
| Research & development | 74,107 | 71,353 | ||
| Sales & marketing | 18,504 | 21,845 | ||
| General & administrative | 11,887 | 12,236 | ||
| Amortization of intangibles assets | 1,577 | 2,223 | ||
| Operating income | 81,832 | 91,053 | ||
| Non-operating expense (income) | ||||
| Interest income, net | 2,710 | 4,205 | ||
| Foreign exchange gain (loss), net | 289 | (606 | ) | |
| Gain (loss) on equity-method investment | - | (303 | ) | |
| Others, net | 14 | 154 | ||
| Subtotal | 3,013 | 3,450 | ||
| Income before income tax | 84,845 | 94,503 | ||
| Income tax expense | 19,707 | 11,531 | ||
| Net income | 65,138 | 82,972 | ||
| Earnings per basic ADS | $1.83 | $2.30 | ||
| Earnings per diluted ADS | $1.82 | $2.30 | ||
| Margin Analysis: | ||||
| Gross margin | 48.5 | % | 48.8 | % |
| Operating margin | 21.1 | % | 22.4 | % |
| Net margin | 16.8 | % | 20.4 | % |
| Additional Data: | ||||
| Weighted avg. ADS equivalents | 35,651 | 36,050 | ||
| Diluted ADS equivalents | 35,867 | 36,147 | ||
