Silicon Motion Technology Corp. (SIMO) revealed earnings for third quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings totaled $42.89 million, or $1.29 per share. This compares with $55.42 million, or $1.58 per share, in last year's third quarter.
Excluding items, Silicon Motion Technology Corp. reported adjusted earnings of $51.16 million or $1.53 per share for the period.
Analysts on average had expected the company to earn $1.86 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 1.3% to $250.8 million from $254.2 million last year.
Silicon Motion Technology Corp. earnings at a glance (GAAP) :
-Earnings (Q3): $42.89 Mln. vs. $55.42 Mln. last year.
-EPS (Q3): $1.29 vs. $1.58 last year.
-Analyst Estimates: $1.86
-Revenue (Q3): $250.8 Mln vs. $254.2 Mln last year.
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