HSINCHU COUNTY, Taiwan (AP) _ Silicon Motion Technology Corp. (SIMO) on Monday reported third-quarter net income of $24.3 million.

On a per-share basis, the Hsinchu County, Taiwan-based company said it had net income of 70 cents. Earnings, adjusted for non-recurring costs, were 76 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The chip company posted revenue of $126 million in the period.

Silicon Motion shares have fallen 26% since the beginning of the year. In the final minutes of trading on Monday, shares hit $37.36, a drop of 11% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIMO at https://www.zacks.com/ap/SIMO

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