Silicom Reports Q3 Revenues of $7.4M with $0.21 EPS

Silicom Ltd.

today reported financial results for the third quarter ended September 30, 2010. Revenues for the third quarter of 2010 were $7.4 million, a 59% increase compared with $4.6 million for the third quarter of 2009 and a 10% increase compared with $6.7 million for the second quarter of 2010. Operating income for the quarter was $1.6 million, representing an operating margin of 21%, a five-fold increase compared with $333,000 in the third quarter of 2009, and an 11% increase compared with the second quarter of 2010. Net income for the quarter was $1.4 million, or $0.21 per share (basic and diluted), up 316% compared with $346,000, or $0.05 per share (basic and diluted), for the third quarter of 2009. For the nine-month period, revenues were $20.5 million, a 50% increase compared with $13.7 million for the parallel period of 2009. Operating income for the first nine months of 2010 increased by 249% to $4.0 million from $1.1 million in the prior-year period. Net income for the period increased by 156% to $3.8 million, or $0.54 per diluted share ($0.55 per basic share) compared with $1.5 million, or $0.21 per diluted share ($0.22 per basic share), for the first nine months of 2009.