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Technology Stocks : Silicon Motion Inc. (SIMO)

SIMO 95.14

-3.8%

Nov 6 3:59 PM EST

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From: Elroy	7/8/2024 9:27:36 AM
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TAIPEI, Taiwan and MILPITAS, Calif., July 08, 2024 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion” or the “Company”), a global leader in NAND flash controllers for solid state storage devices, announces that based on its preliminary second quarter financial results, sequential revenue growth is expected to be slightly above the high-end of its original guidance range of $199 million to $208 million, which the company issued on May 3, 2024. Gross margin (non-GAAP) is expected to be near the high-end of the company's original 45.0% to 46.0% guidance range. The Company will release its second quarter 2024 financial results after the market closes on August 1, 2024 and will host a conference call on August 2 at 8:00 a.m. Eastern Time. Participants must pre-register using the link below in order to participate in the live call. ----- This looks like...... sales = $210m Gross Margins = 46% Gross Profit = $97m Op Ex = $58m Op Profit = $39m Net Profit = $31m EPS = 92 cents. What SIMO is doing up around $85 with those numbers is beyond me.

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