Key Developments For Silicon Motion Technology Corporation
Silicon Motion Technology Corporation (SIMO.O) (Nasdaq)
Silicon Motion Technology Corporation Issues Q4 2009 Revenue Outlook In Line With Analysts' Estimates
Silicon Motion Technology Corporation announced that for the fourth quarter of 2009, it expects revenue to be flat to up 10% sequentially. The Company reported revenue of $23.1 million in the third quarter of 2009. According to Reuters Estimates, analysts on an average are expecting the Company to report revenue of $25 million for the fourth quarter of 2009.
Silicon Motion Technology Corporation Issues Statement Regarding US ITC Non-Infringement Ruling
Silicon Motion Technology Corporation announced that it was informed on October 23, 2009, that the United States International Trade Commission (US ITC) had issued its final determination that the Company's flash memory controllers and products containing these controllers do not infringe upon SanDisk Corporation's patents as previously alleged by SanDisk. The US ITC's final determination upholds an earlier determination by the administrative law judge in April 2009, that the Company's controllers and products containing them do not infringe SanDisk's patents.
Silicon Motion Technology Corporation Issues Q3 2009 Revenue Outlook Below Analysts' Estimates
Silicon Motion Technology Corporation announced that for the third quarter of 2009, it expects revenue to be flat to up 10% sequentially. The Company reported revenue of $21.54 million in the second quarter of 2009. According to Reuters Estimates, analysts on an average were expecting the Company to report revenue of $25.24 million for the third quarter of 2009.
Silicon Motion Technology Corporation Lowers Q2 2009 Revenue Outlook
Silicon Motion Technology Corporation updated its second quarter of 2009 outlook and expects revenue to be down 5%-10% sequentially compared to prior range of up 5%-15% sequentially. The Company reported revenues of $21.5 million in first quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $23.5 million for second quarter of 2009.
Silicon Motion Technology Corporation Issues Q2 2009 Guidance; Revises Fourth Quarter 2008 Results
Silicon Motion Technology Corporation announced that for second quarter of 2009, it expects revenue to be up 5% to 15% sequentially. The Company reported revenues of $21.5 million in first quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $22.62 million for the same period. It also announced that it has reported its fourth quarter results in February, it reported unaudited results. Following the report of results, new material information regarding the deteriorating financial condition of certain customers and more limited growth prospects of several products, which are consequences of on-going weakness in the global economic outlook, came to management's knowledge. The majority of issues were largely related to its mobile communications business. After careful examination, it has revised its fourth quarter results to account for an increase in obsolete inventory reserves together with an increase in reserves for doubtful accounts.
