Silicom Delivers Record Revenues for Q1 2008 - $7.7M Revenues, $0.26 EPS -
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Monday April 28, 2008 08:15:02 EDT
KFAR SAVA, Israel, Apr 28, 2008 (BUSINESS WIRE) --
Silicom Ltd. (NASDAQ:SILC)(TASE:SILC) today reported its financial results for the first quarter ended March 31, 2008.
Revenues for the first quarter of 2008 reached a record $7.7 million, an increase of 27% compared with $6.0 million recorded in the first quarter of 2007.
Net income for the period increased by 39% to $1.7 million, or $0.26 per share (basic and diluted), compared with $1.2 million, or $0.22 per diluted share ($0.23 per basic share), for the first quarter of 2007.
As of the end of the first quarter, the Company's cash, cash equivalents and marketable securities totaled $35.1 million, an increase of $2.2 million compared with the end of 2007.
Commenting on the results, Shaike Orbach, President and CEO, said, "We are pleased to report another quarter of record revenues and sequential revenue growth, especially in a market environment that has entered a period of slowdown. Despite the current uncertainty, we continue to see many opportunities in our target markets that we are well-positioned to address. During the past year, we built our business to a new level, increasing our customer base to over 50 companies, many of them leaders in our target markets, and made a successful initial penetration into the vast Chinese market. In parallel, we broadened our product portfolio in ways that enhance our competitive positioning in our addressable markets. We believe these are differentiating advantages that will help us continue to win business and to grow our company over the long term." |
