Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion,” the “Company” or “we”) today announced its financial results for the quarter ended June 30, 2024. For the second quarter of 2024, net sales (GAAP) increased sequentially to $210.7 million from $189.3 million in the first quarter of 2024. Net income (GAAP) increased to $30.8 million, or $0.91 per diluted American Depositary Share of the Company (“ADS”) (GAAP), from net income (GAAP) of $16.0 million, or $0.48 per diluted ADS (GAAP), in the first quarter of 2024.
For the second quarter of 2024, net income (non-GAAP) increased to $32.5 million, or $0.96 per diluted ADS (non-GAAP), from net income (non-GAAP) of $21.6 million, or $0.64 per diluted ADS (non-GAAP), in the first quarter of 2024.
All financial numbers are in U.S. dollars unless otherwise noted.