UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

July 30, 2021

Commission File Number: 000-51380

 

 

Silicon Motion Technology Corporation

(Exact name of Registrant as specified in its charter)

 

 

Unit B, 16/F, Centre 600, 82 King Lam St,

Cheung Sha Wan, Kowloon,

Hong Kong

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Yes  ☐            No  ☒

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Yes  ☐            No  ☒

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

Yes  ☐            No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): Not applicable

 

 

 


Exhibits

 

Exhibit 99.1    Press Release issued by the Company on July 30, 2021.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    SILICON MOTION TECHNOLOGY CORPORATION
Date: July 30, 2021      
   

By:

 

/s/ Riyadh Lai

   

Name:

 

Riyadh Lai

   

Title:

 

Chief Financial Officer


EX-99.1

Exhibit 99.1

 

LOGO   Silicon Motion Announces Results for the Period Ended June 30, 2021

NEWS RELEASE

Financial Highlights

 

    

2Q 2021 GAAP

  

2Q 2021 Non-GAAP

•   Net sales

   $221.1 million (+21% Q/Q, +62% Y/Y)    $221.1 million (+21% Q/Q, +62% Y/Y)

•   Gross margin

   50.3%    51.0%

•   Operating margin

   27.3%    29.2%

•   Earnings per diluted ADS

   $1.42    $1.50

Business Highlights

 

 

Achieved second consecutive all-time record quarterly revenue and earnings per share

 

 

Sales of SSD and eMMC+UFS controllers both reached new record quarterly highs

 

 

SSD controller sales increased 30% to 35% Q/Q and increased 105% to 110% Y/Y

 

 

eMMC+UFS controller sales increased 10% to 15% Q/Q and increased 25% to 30% Y/Y

 

 

SSD solutions sales increased 35% to 40% Q/Q and declined 15% to 20% Y/Y

TAIPEI, Taiwan and MILPITAS, Calif., July 30, 2021 – Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon Motion” or the “Company”) today announced its financial results for the quarter ended June 30, 2021. For the second quarter, net sales (GAAP) increased sequentially to $221.1 million from $182.4 million in first quarter 2021. Net income (GAAP) increased to $49.5 million or $1.42 per diluted ADS (GAAP) from net income (GAAP) of $34.4 million or $0.98 per diluted ADS (GAAP) in first quarter 2021.

For the second quarter, net income (non-GAAP) increased to $52.7 million or $1.50 per diluted ADS (non-GAAP) from a net income (non-GAAP) of $38.7 million or $1.11 per diluted ADS (non-GAAP) in first quarter 2021.

Second Quarter 2021 Review

“We delivered better than expected revenue in the second quarter, primarily because of our focus on sales of higher-value products,” said Wallace Kou, President and CEO of Silicon Motion. “This focus also led to higher than expected gross profitability.”

 

1


Key Financial Results

 

(in millions, except

percentages and per ADS amounts)

   GAAP     Non-GAAP  
   2Q 2021     1Q 2021     2Q 2020     2Q 2021     1Q 2021     2Q 2020  

Revenue

   $ 221.1     $ 182.4     $ 136.8     $ 221.1     $ 182.4     $ 136.8  

Gross profit

Percent of revenue

   $

 

111.1

50.3

 

% 

  $

 

91.3

50.0

 

% 

  $

 

68.4

50.0

 

% 

  $

 

112.9

51.0

 

% 

  $

 

92.4

50.7

 

% 

  $

 

68.4

50.0

 

% 

Operating expenses

   $ 50.7     $ 46.9     $ 38.3     $ 48.4     $ 43.9     $ 38.0  

Operating income

Percent of revenue

   $

 

60.4

27.3

 

% 

  $

 

44.4

24.3

 

% 

  $

 

30.1

22.0

 

% 

  $

 

64.5

29.2

 

% 

  $

 

48.5

26.6

 

% 

  $

 

30.4

22.2

 

% 

Earnings per diluted ADS

   $ 1.42     $ 0.98     $ 0.80     $ 1.50     $ 1.11     $ 0.81  

Other Financial Information

 

(in millions)    2Q 2021      1Q 2021      2Q 2020  

Cash, cash equivalents, restricted cash and short-term investments—end of period

   $ 412.3      $ 371.0      $ 379.7  

Routine capital expenditures

   $ 4.9      $ 3.3      $ 4.1  

Dividend payments

   $ 12.2      $ 12.2      $ 12.3  

During the second quarter, we had $4.9 million of capital expenditures for the routine purchase of software, design tools and other items.

Returning Value to Shareholders

On October 26, 2020, our Board of Directors declared a $1.40 per ADS annual dividend to be paid in quarterly installments of $0.35 per ADS. On May 20, 2021, we paid $12.2 million to shareholders as the third installment of our annual dividend.

On November 21, 2018, we announced that our Board of Directors had authorized a new program for the Company to repurchase up to $200 million of our ADS over a 24-month period. On October 26, 2020, the Board of Directors of the Company authorized the extension of the expiration of this program to November 21, 2021. Since the start of this program, we have repurchased $84.8 million of our ADSs and $115.2 million remains available for repurchase under the program. There were no share repurchases in the second quarter.

 

2


Business Outlook

“We are upsizing our previous full-year revenue guidance as we expect to continue our focus of selling higher-value products,” said Wallace Kou, President and CEO of Silicon Motion. “We believe that this focused approach will also lead to better gross profitability and deliver strong SSD controller market share gains.”

For the third quarter of 2021, management expects:

 

    

GAAP

  

Non-GAAP Adjustment

  

Non-GAAP

Revenue   

$238m to $249m

+7.5% to 12.5% Q/Q

   —     

$238m to $249m

+7.5% to 12.5% Q/Q

Gross margin    48.5% to 50.5%    Approximately $0.1m*    48.5% to 50.5%
Operating margin    25.2% to 27.7%    Approximately $4.6m to $5.6m**    27.5% to 29.5%

 

*

Projected gross margin (non-GAAP) excludes $0.1 million of stock-based compensation.

**

Projected operating margin (non-GAAP) excludes $4.6 million to $5.6 million of stock-based compensation.

For full year 2021, management expects:

 

    

GAAP

  

Non-GAAP Adjustment

  

Non-GAAP

Revenue   

$890m to $917m

+65% to 70% Y/Y

   —     

$890m to $917m

+65% to 70% Y/Y

Gross margin    49.1% to 50.2%    Approximately $3.1m to $3.3m*    49.5% to 50.5%
Operating margin    24.9% to 27.2%    Approximately $20.8m to $22.8m**    27.5% to 29.5%

 

*

Projected gross margin (non-GAAP) excludes $0.3 million to $0.5 million of stock-based compensation and $2.8 million of SSD solutions restructuring.

**

Projected operating margin (non-GAAP) excludes $18.0 million to $20.0 million of stock-based compensation and $2.8 million of SSD solutions restructuring.

 

3


Conference Call & Webcast:

The Company’s management team will conduct a conference call at 8:00 am Eastern Time on July 30, 2021.

Speakers:

Wallace Kou, President & CEO

Riyadh Lai, CFO

Chris Chaney, Director of Investor Relations & Strategy

Conference Call Details

Participants must register in advance to join the conference using the link provided below and should dial in 10 minutes prior to the call start time. Conference access information (including dial-in numbers, the passcode, and a unique access pin) will be provided in the email received upon registration.

Participant Online Registration: http://apac.directeventreg.com/registration/event/9533307

Replay Numbers (for 7 days):

 

USA (Toll Free):    1 855 452 5696
USA (Toll):    1 646 254 3697
Participant Passcode:    9533307

A webcast of the call will be available on the Company’s website at www.siliconmotion.com.

 

4


Discussion of Non-GAAP Financial Measures

To supplement the Company’s unaudited selected financial results calculated in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), the Company discloses certain non-GAAP financial measures that exclude stock-based compensation and other items, including gross profit (non-GAAP), operating expenses (non-GAAP), operating profit (non-GAAP), net income (non-GAAP), and earnings per diluted ADS (non-GAAP). These non-GAAP measures are not in accordance with or an alternative to GAAP, and may be different from non-GAAP measures used by other companies. We believe that these non-GAAP measures have limitations in that they do not reflect all the amounts associated with the Company’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate the Company’s results of operations in conjunction with the corresponding GAAP measures. The presentation of this additional information is not meant to be considered in isolation or as a substitute for the most directly comparable GAAP measure. We compensate for the limitations of our non-GAAP financial measures by relying upon GAAP results to gain a complete picture of our performance.

Our non-GAAP financial measures are provided to enhance the user’s overall understanding of our current financial performance and our prospects for the future. Specifically, we believe the non-GAAP results provide useful information to both management and investors as these non-GAAP results exclude certain expenses, gains and losses that we believe are not indicative of our core operating results and because they are consistent with the financial models and estimates published by many analysts who follow the Company. We use non-GAAP measures to evaluate the operating performance of our business, for comparison with our forecasts, and for benchmarking our performance externally against our competitors. Also, when evaluating potential acquisitions, we exclude the items described below from our consideration of the target’s performance and valuation. Since we find these measures to be useful, we believe that our investors benefit from seeing the results from management’s perspective in addition to seeing our GAAP results. We believe that these non-GAAP measures, when read in conjunction with the Company’s GAAP financials, provide useful information to investors by offering:

 

   

the ability to make more meaningful period-to-period comparisons of the Company’s on-going operating results;

 

   

the ability to better identify trends in the Company’s underlying business and perform related trend analysis;

 

   

a better understanding of how management plans and measures the Company’s underlying business; and

 

   

an easier way to compare the Company’s operating results against analyst financial models and operating results of our competitors that supplement their GAAP results with non-GAAP financial measures.

 

5


The following are explanations of each of the adjustments that we incorporate into our non-GAAP measures, as well as the reasons for excluding each of these individual items in our reconciliation of these non-GAAP financial measures:

Stock-based compensation expense consists of non-cash charges related to the fair value of restricted stock units awarded to employees. The Company believes that the exclusion of these non-cash charges provides for more accurate comparisons of our operating results to our peer companies due to the varying available valuation methodologies, subjective assumptions and the variety of award types. In addition, the Company believes it is useful to investors to understand the specific impact of share-based compensation on its operating results.

SSD solutions restructuring are charges relate to the restructuring of our underperforming Shannon product lines and include goodwill impairment expenses, and the write-down of NAND flash and SSD inventory valuation.

Foreign exchange gains and losses consist of translation gains and/or losses of non-US$ denominated current assets and current liabilities, as well as certain other balance sheet items which result from the appreciation or depreciation of non-US$ currencies against the US$. We do not use financial instruments to manage the impact on our operations from changes in foreign exchange rates, and because our operations are subject to fluctuations in foreign exchange rates, we therefore exclude foreign exchange gains and losses when presenting non-GAAP financial measures.

 

6


Silicon Motion Technology Corporation

Consolidated Statements of Income

(in thousands, except percentages and per ADS data, unaudited)

 

     For Three Months Ended     For the Six Months Ended  
     Jun. 30,
2020
($)
    Mar. 31,
2021
($)
    Jun. 30,
2021
($)
    Jun. 30,
2020
($)
    Jun. 30,
2021
($)
 

Net sales

     136,811       182,399       221,103       269,580       403,502  

Cost of sales

     68,417       91,140       109,969       137,294       201,109  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Gross profit

     68,394       91,259       111,134       132,286       202,393  

Operating expenses

          

Research & development

     28,901       35,982       38,962       58,247       74,944  

Sales & marketing

     5,823       6,446       7,085       12,316       13,531  

General & administrative

     3,531       4,439       4,649       7,490       9,088  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     30,139       44,392       60,438       54,233       104,830  

Non-operating income (expense)

          

Interest income, net

     1,323       361       336       3,055       697  

Foreign exchange gain (loss), net

     (142     (808     519       (623     (289

Others, net

     6       3       —         22       3  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Subtotal

     1,187       (444     855       2,454       411  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Income before income tax

     31,326       43,948       61,293       56,687       105,241  

Income tax expense

     3,115       9,548       11,748       2,561       21,296  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     28,211       34,400       49,545       54,126       83,945  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Earnings per basic ADS

     0.80       0.99       1.42       1.54       2.41  

Earnings per diluted ADS

     0.80       0.98       1.42       1.54       2.40  

Margin Analysis:

          

Gross margin

     50.0     50.0     50.3     49.1     50.2

Operating margin

     22.0     24.3     27.3     20.1     26.0

Net margin

     20.6     18.9     22.4     20.1     20.8

 

 

Additional Data:

          

Basic ADS

     35,146       34,674       34,926       35,024       34,800  

Diluted ADS

     35,164       34,924       34,953       35,147       34,939  

 

7


Silicon Motion Technology Corporation

Reconciliation of GAAP to Non-GAAP Operating Results

(in thousands, except percentages and per ADS data, unaudited)

 

     For Three Months Ended     For the Six Months Ended  
     Jun. 30,
2020
($)
    Mar. 31,
2021
($)
    Jun. 30,
2021
($)
    Jun. 30,
2020
($)
    Jun. 30,
2021
($)
 

Gross profit (GAAP)

     68,394       91,259       111,134       132,286       202,393  

Gross margin (GAAP)

     50.0     50.0     50.3     49.1     50.2

Stock-based compensation (A)

     3       54       52       41       106  

SSD solutions restructuring

     —         1,131       1,679       —         2,810  

Gross profit (non-GAAP)

     68,397       92,444       112,865       132,327       205,309  

Gross margin (non-GAAP)

     50.0     50.7     51.0     49.1     50.9

Operating expenses (GAAP)

     38,255       46,867       50,696       78,053       97,563  

Stock-based compensation (A)

     (243     (2,961     (2,312     (2,687     (5,273

Operating expenses (non-GAAP)

     38,012       43,906       48,384       75,366       92,290  

Operating profit (GAAP)

     30,139       44,392       60,438       54,233       104,830  

Operating margin (GAAP)

     22.0     24.3     27.3     20.1     26.0

Total adjustments to operating profit

     246       4,146       4,043       2,728       8,189  

Operating profit (non-GAAP)

     30,385       48,538       64,481       56,961       113,019  

Operating margin (non-GAAP)

     22.2     26.6     29.2     21.1     28.0

Non-operating income (expense) (GAAP)

     1,187       (444     855       2,454       411  

Foreign exchange loss (gain), net

     142       808       (519     623       289  

Non-operating income (expense) (non-GAAP)

     1,329       364       336       3,077       700  

Net income (GAAP)

     28,211       34,400       49,545       54,126       83,945  

Total pre-tax impact of non-GAAP adjustments

     388       4,954       3,524       3,351       8,478  

Income tax impact of non-GAAP adjustments

     2       (695     (339     (522     (1,034

Net income (non-GAAP)

     28,601       38,659       52,730       56,955       91,389  

Earnings per diluted ADS (GAAP)

   $ 0.80     $ 0.98     $ 1.42     $ 1.54     $ 2.40  

Earnings per diluted ADS (non-GAAP)

   $ 0.81     $ 1.11     $ 1.50     $ 1.62     $ 2.60  

 

8


Shares used in computing earnings per diluted ADS (GAAP)

     35,164        34,924        34,953        35,147        34,939  

Non-GAAP adjustments

     36        45        297        49        171  

Shares used in computing earnings per diluted ADS (non-GAAP)

     35,200        34,969        35,250        35,196        35,110  

(A) Excludes stock-based compensation as follows:

              

Cost of sales

     3        54        52        41        106  

Research & development

     118        2,056        1,203        1,773        3,259  

Sales & marketing

     85        406        480        420        886  

General & administrative

     40        499        629        494        1,128  

 

9


Silicon Motion Technology Corporation

Consolidated Balance Sheet

(In thousands, unaudited)

 

     Jun. 30,
2020
($)
     Mar. 31,
2021
($)
     Jun. 30,
2021
($)
 

Cash and cash equivalents

     350,790        350,125        357,119  

Short-term investments

     3,876        —          —    

Accounts receivable (net)

     93,825        136,244        145,583  

Inventories

     103,835        113,432        150,617  

Refundable deposits – current

     24,089        18,693        48,760  

Prepaid expenses and other current assets

     23,778        25,140        26,742  
  

 

 

    

 

 

    

 

 

 

Total current assets

     600,193        643,634        728,821  

Long-term investments

     5,000        5,000        6,500  

Property and equipment (net)

     102,156        103,948        106,841  

Goodwill and intangible assets (net)

     17,489        —          —    

Other assets

     11,556        10,832        17,093  
  

 

 

    

 

 

    

 

 

 

Total assets

     736,394        763,414        859,255  
  

 

 

    

 

 

    

 

 

 

Accounts payable

     34,209        44,112        77,126  

Income tax payable

     3,642        12,817        19,071  

Accrued expenses and other current liabilities

     78,244        85,533        86,559  
  

 

 

    

 

 

    

 

 

 

Total current liabilities

     116,095        142,462        182,756  

Other liabilities

     27,202        26,193        29,859  
  

 

 

    

 

 

    

 

 

 

Total liabilities

     143,297        168,655        212,615  

Shareholders’ equity

     593,097        594,759        646,640  
  

 

 

    

 

 

    

 

 

 

Total liabilities & shareholders’ equity

     736,394        763,414        859,255  
  

 

 

    

 

 

    

 

 

 

 

10


Silicon Motion Technology Corporation

Condensed Consolidated Statements of Cash Flows

(in thousands, unaudited)

 

     For Three Months Ended     For the Six Months Ended  
     Jun. 30,
2020
($)
    Mar. 31,
2021
($)
    Jun. 30,
2021
($)
    Jun. 30,
2020
($)
    Jun. 30,
2021
($)
 

Net income

     28,211       34,400       49,545       54,126       83,945  

Depreciation & amortization

     3,363       3,886       4,059       6,600       7,945  

Stock-based compensation

     246       3,015       2,364       2,728       5,379  

Investment impairment, losses & disposals

     33       203       —         19       203  

Changes in operating assets and liabilities

     (6,151     (24,132     4,058       1,839       (20,074

Others

     (1     —         —         (1     —    
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash provided by operating activities

     25,701       17,372       60,026       65,311       77,398  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Purchase of property & equipment

     (4,134     (3,330     (4,926     (10,530     (8,256

Purchase of long-term investments

     (2,000     —         (1,500     (2,000     (1,500
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash used in investing activities

     (6,134     (3,330     (6,426     (12,530     (9,756
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Dividend payments

     (12,278     (12,199     (12,201     (24,556     (24,400
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net cash used in financing activities

     (12,278     (12,199     (12,201     (24,556     (24,400
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net increase (decrease) in cash, cash equivalents & restricted cash

     7,289       1,843       41,399       28,225       43,242  

Effect of foreign exchange changes

     (550     (86     (57     (664     (143

Cash, cash equivalents & restricted cash—beginning of period

     369,075       369,211       370,968       348,253       369,211  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash, cash equivalents & restricted cash—end of period

     375,814       370,968       412,310       375,814       412,310  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

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About Silicon Motion:

We are the global leader in supplying NAND flash controllers for solid state storage devices. We supply more SSD controllers than any other company in the world for servers, PCs and other client devices and are the leading merchant supplier of eMMC and UFS embedded storage controllers used in smartphones, IoT devices and other applications. We also supply customized high-performance hyperscale data center and specialized industrial and automotive SSD solutions. Our customers include most of the NAND flash vendors, storage device module makers and leading OEMs. For further information on Silicon Motion, visit us at www.siliconmotion.com.

Forward-Looking Statements:

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including without limitation, statements about Silicon Motion’s currently expected third quarter of 2021 and full year 2021 expectations of revenue, gross margin and operating expenses, all of which reflect management’s estimates based on information available at the time of this press release. While Silicon Motion believes these estimates to be meaningful, these amounts could differ materially from actual reported amounts for the third quarter of 2021 and full year 2021. Forward-looking statements also include, without limitation, statements regarding trends in the semiconductor or consumer electronics markets and our future results of operations, financial condition and business prospects. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” or the negative of these terms or other comparable terminology. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. These statements involve risks and uncertainties, and actual market trends or our actual results of operations, financial condition or business prospects may differ materially from those expressed or implied in these forward-looking statements for a variety of reasons. Potential risks and uncertainties include, but are not limited to the unpredictable volume and timing of customer orders, which are not fixed by contract but vary on a purchase order basis; the loss of one or more key customers or the significant reduction, postponement, rescheduling or cancellation of orders from one or more customers; general economic conditions or conditions in the semiconductor or consumer electronics markets; the effects on our business and our customer’s business taking into account the ongoing US-China tariffs and trade disputes together with the uncertainties associated with the ongoing global outbreak of COVID-19; decreases in the overall average selling prices of our products; changes in the relative sales mix of our products; changes in our cost of finished goods; the payment, or non-payment, of cash dividends in the future at the discretion of our board of directors and any announced planned increases in such dividends; changes in our cost of finished goods; the availability, pricing, and timeliness of delivery of other components and raw

 

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materials used in the products we sell given the current raw material supply shortages being experienced in our industry; our customers’ sales outlook, purchasing patterns, and inventory adjustments based on consumer demands and general economic conditions; any potential impairment charges that may be incurred related to businesses previously acquired or divested in the future; our ability to successfully develop, introduce, and sell new or enhanced products in a timely manner; and the timing of new product announcements or introductions by us or by our competitors. For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the Securities and Exchange Commission, including our Annual Report on Form 20-F filed on May 12, 2021. We assume no obligation to update any forward-looking statements, which apply only as of the date of this press release.

 

Investor Contact:    Investor Contact:
Christopher Chaney    Selina Hsieh
Director, Investor Relations & Strategy    Investor Relations
E-mail: CChaney@siliconmotion.com    E-mail: ir@siliconmotion.com

Media Contact:

Sara Hsu

Project Manager

E-mail: sara.hsu@siliconmotion.com

 

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