Silicom's Momentum Continues: Achieves Record Results for Q4 & 2007
biz.yahoo.com
Monday January 28, 8:15 am ET
- Q4- $7.5M Revenues, $1.8M Net Profit, 22% Operating Margin -
- 2007- $26.8M Revenues, $1.00 EPS -
KFAR SAVA, Israel--(BUSINESS WIRE)--Silicom Ltd. (NASDAQ:SILC)(TASE:SILC) today reported record results for the fourth quarter and twelve months ended December 31, 2007.
Revenues for the fourth quarter of 2007 increased by 49% to $7.5 million compared with $5.0 million for the fourth quarter of 2006. These are the Company’s highest quarterly revenues on record, and represent 13% sequential growth compared to the third quarter of 2007. Net income for the period increased by 71% to $1.8 million, or $0.27 per diluted share ($0.28 per basic share), compared to $1.1 million, or $0.20 per diluted share ($0.21 per basic share), for the fourth quarter of 2006. Operating margin for the quarter increased to 22% compared with 19% for the fourth quarter of 2006.
Revenues for 2007 increased by 66% to $26.8 million compared with $16.1 million for 2006. These are the Company’s highest annual revenues on record. Net income for 2007 increased by 142% to $6.3 million, or $1.00 per diluted share ($1.03 per basic share), compared with $2.6 million, or $0.49 per diluted share ($0.51 per basic share), for 2006. Operating margin for the year increased to 21%, compared with 15% for 2006.
As of the end of 2007, the Company’s cash and equivalents totaled $32.9 million, compared with $9.3 million at the end of 2006.
Commenting on the results, Shaike Orbach, President and CEO, said, “We are proud to report the strongest quarter and year in our history, both of which set new records in terms of revenues, operating profit and net income. These exciting results are being driven by the accelerated growth of our target WAN Optimization, Security and other Network Appliances markets, which continue to exhibit strong demand for our advanced multi-port connectivity and BYPASS products; moreover, we have been growing faster than our target markets through our success at expanding our business with existing customers while continuing to achieve new design wins.”
Mr. Orbach continued, “We are particularly pleased to record a steady rise in our operating margin to its current level of 21%, a demonstration of the leverage inherent in our business model. Having accumulated a total of more than 50 Design Wins in a variety of market segments for the full range of our products, we are not dependent upon any single market segment, and feel well positioned to continue delivering growth in the future.” |
