Memory system controller provider Silicon Motion Technology has raised its income development outlook for 2021 once more after delivering better-than-expected income for the second quarter.
Silicon Motion expects to put up a 65-70% on-year gross sales surge in 2021, with 49.5-50.5% in gross margin.
“We are upsizing our previous full-year revenue guidance as we expect to continue our focus of selling higher-value products,” stated firm president and CEO Wallace Kou. “We believe that this focused approach will also lead to better gross profitability and deliver strong SSD controller market share gains.”
Silicon Motion reported web gross sales of US$221.1 million for the second quarter, a document excessive for the second consecutive quarter. The firm generated web earnings of US$49.5 million within the second quarter, or US$1.42 per diluted ADS.
Silicon Motion’s web earnings on a non-GAAP foundation got here to US$52.7 million, or US$1.50 per diluted ADS, within the second quarter of 2021.
Silicon Motion disclosed gross sales of its SSD, eMMC and UFS system controllers all set document quarterly highs within the second quarter, whereas SSD answer gross sales climbed 35-40% sequentially however fell 15-20% on yr.
“We delivered better than expected revenue in the second quarter, primarily because of our focus on sales of higher-value products,” Kou indicated. “This focus also led to higher than expected gross profitability.”
Silicon Motion expects to put up revenues of US$238-249 million within the third quarter of 2021, representing sequential development of seven.5-12.5%, with gross margin starting from 48.5% to 50.5%.
