HONG KONG (AP) _ Silicon Motion Technology Corp. (SIMO) on Tuesday reported third-quarter net income of $42.9 million.

The Hong Kong-based company said it had net income of $1.29 per share. Earnings, adjusted for stock option expense and non-recurring costs, were $1.53 per share.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.02 per share.

The chip company posted revenue of $250.8 million in the period, also falling short of Street forecasts. Four analysts surveyed by Zacks expected $279.3 million.

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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