RTTNews | Jan 26, 2022 06:06PM EST

18:06 Wednesday, January 26, 2022 (RTTNews.com) - Silicon Motion Technology Corp. (SIMO) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $60.58 million, or $1.73 per share. This compares with $1.35 million, or $0.04 per share, in last year's fourth quarter.

Excluding items, Silicon Motion Technology Corp. reported adjusted earnings of $67.54 million or $1.90 per share for the period.

Analysts on average had expected the company to earn $1.76 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 83.7% to $264.4 million from $143.9 million last year.

Silicon Motion Technology Corp. earnings at a glance (GAAP) :

-Earnings (Q4): $60.58 Mln. vs. $1.35 Mln. last year.-EPS (Q4): $1.73 vs. $0.04 last year.-Analyst Estimate: $1.76-Revenue (Q4): $264.4 Mln vs. $143.9 Mln last year.

-Guidance:Next quarter revenue guidance: $225 to $238 Mln

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