Silicom Beats on Both Top and Bottom Lines
Silicom (NAS: SILC) reported earnings on July 22. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Silicom beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share increased significantly.
Gross margins shrank, operating margins expanded, net margins dropped.
Silicom logged revenue of $15.7 million. The two analysts polled by S&P Capital IQ expected revenue of $15.3 million on the same basis. GAAP reported sales were 51% higher than the prior-year quarter's $10.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.48. The two earnings estimates compiled by S&P Capital IQ anticipated $0.39 per share. Non-GAAP EPS of $0.48 for Q2 were 41% higher than the prior-year quarter's $0.34 per share. GAAP EPS of $0.45 for Q2 were 36% higher than the prior-year quarter's $0.33 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 40.1%, 240 basis points worse than the prior-year quarter. Operating margin was 22.1%, 40 basis points better than the prior-year quarter. Net margin was 20.9%, 100 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $16.5 million. On the bottom line, the average EPS estimate is $0.44.
Next year's average estimate for revenue is $64.8 million. The average EPS estimate is $1.79.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 118 members out of 120 rating the stock outperform, and two members rating it underperform. Among 17 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 17 give Silicom a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Silicom is buy, with an average price target of $32.00.
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The article Silicom Beats on Both Top and Bottom Lines originally appeared on Fool.com.
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