Silicom Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 08:01 am EDT
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Silicom Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 300.57 million compared to USD 391.65 million a year ago. Net income was USD 12.11 million compared to USD 59.88 million a year ago. Basic earnings per share from continuing operations was USD 0.18 compared to USD 0.89 a year ago. Diluted earnings per share from continuing operations was USD 0.18 compared to USD 0.88 a year ago.
For the nine months, sales was USD 1,053.68 million compared to USD 1,053.89 million a year ago. Net income was USD 85.54 million compared to USD 126.85 million a year ago. Basic earnings per share from continuing operations was USD 1.27 compared to USD 1.9 a year ago. Diluted earnings per share from continuing operations was USD 1.26 compared to USD 1.87 a year ago.
Silicom Ltd. (Silicom) is engaged in the design, manufacture, marketing and support of networking and data infrastructure solutions for a range of servers, server-based systems and communications devices. The Company's products include server network interface cards with and without bypass (Server Adapters); Intelligent and programmable cards, with features, such as encryption, acceleration, data compression, redirection, time stamping, network capture solutions, field programmable gate array (FPGA) based ultra-low latency solutions, and/or other offload features and/or compute blades (Smart Cards), and standalone Products. The Company's market segments for its products include network appliances; servers; data storage, including Big Data; The Cloud, virtualized data centers, with and without software-defined networking (SDN), and Internet of Things (IOT).