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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Silicom Ltd | NASDAQ:SILC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.30 | -1.79% | 16.50 | 13.75 | 19.40 | 17.16 | 16.41 | 16.83 | 52,949 | 05:00:10 |
|
SILICOM LTD.
(Registrant) |
|
|
|
|
|
|
Date: July 31, 2023
|
By
|
/s/ Eran Gilad
|
|
|
Eran Gilad
|
|
|
|
Chief Financial Officer
|
|
Company Contact:
Eran Gilad, CFO
Silicom Ltd.
Tel: +972-9-764-4555
E-mail: erang@silicom.co.il
|
Investor Relations Contact:
Ehud Helft
EK Global Investor Relations
Tel: +1 212 378 8040
E-mail: silicom@ekgir.com
|
Silicom Ltd. Consolidated Balance Sheets
|
|||||
(US$ thousands)
|
June 30,
|
December 31,
|
|||||||
2023
|
2022
|
|||||||
Assets
|
||||||||
Current assets
|
||||||||
Cash and cash equivalents
|
$
|
36,684
|
$
|
30,734
|
||||
Marketable securities
|
9,012
|
4,020
|
||||||
Accounts receivables: Trade, net
|
30,665
|
27,258
|
||||||
Accounts receivables: Other
|
5,709
|
3,620
|
||||||
Inventories
|
72,061
|
87,985
|
||||||
Total current assets
|
154,131
|
153,617
|
||||||
Marketable securities
|
17,617
|
15,163
|
||||||
Assets held for employees’ severance benefits
|
1,641
|
1,715
|
||||||
Deferred tax assets
|
45
|
502
|
||||||
Property, plant and equipment, net
|
4,014
|
4,488
|
||||||
Intangible assets, net
|
6,999
|
6,710
|
||||||
Right of Use
|
7,830
|
8,441
|
||||||
Goodwill
|
25,561
|
25,561
|
||||||
Total assets
|
$
|
217,838
|
$
|
216,197
|
||||
Liabilities and shareholders' equity
|
||||||||
Current liabilities
|
||||||||
Trade accounts payable
|
$
|
10,365
|
$
|
15,922
|
||||
Other accounts payable and accrued expenses
|
8,609
|
9,641
|
||||||
Lease Liabilities
|
2,150
|
1,549
|
||||||
Total current liabilities
|
21,124
|
27,112
|
||||||
Lease Liabilities
|
4,818
|
6,291
|
||||||
Liability for employees’ severance benefits
|
3,306
|
3,425
|
||||||
Deferred tax liabilities
|
83
|
74
|
||||||
Total liabilities
|
29,331
|
36,902
|
||||||
Shareholders' equity
|
||||||||
Ordinary shares and additional paid-in capital
|
68,775
|
66,578
|
||||||
Treasury shares
|
(35,224
|
)
|
(34,896
|
)
|
||||
Retained earnings
|
154,956
|
147,613
|
||||||
Total shareholders' equity
|
188,507
|
179,295
|
||||||
Total liabilities and shareholders' equity
|
$
|
217,838
|
$
|
216,197
|
Silicom Ltd. Consolidated Statements of Operations
|
||||||||||||
(US$ thousands, except for share and per share data)
|
Three-month period
|
Six-month period
|
|||||||||||||||
ended June 30,
|
ended June 30,
|
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
Sales
|
$
|
38,130
|
$
|
34,154
|
$
|
75,311
|
$
|
66,224
|
||||||||
Cost of sales
|
25,968
|
22,032
|
51,364
|
43,212
|
||||||||||||
Gross profit
|
12,162
|
12,122
|
23,947
|
23,012
|
||||||||||||
Research and development expenses
|
5,253
|
5,257
|
10,391
|
10,735
|
||||||||||||
Selling and marketing expenses
|
1,894
|
1,599
|
3,397
|
3,382
|
||||||||||||
General and administrative expenses
|
1,013
|
1,131
|
2,106
|
2,328
|
||||||||||||
Total operating expenses
|
8,160
|
7,987
|
15,894
|
16,445
|
||||||||||||
Operating income
|
4,002
|
4,135
|
8,053
|
6,567
|
||||||||||||
Financial income (loss), net
|
468
|
1,159
|
767
|
1,500
|
||||||||||||
Income before income taxes
|
4,470
|
5,294
|
8,820
|
8,067
|
||||||||||||
Income taxes
|
664
|
770
|
1,477
|
1,370
|
||||||||||||
Net income
|
$
|
3,806
|
$
|
4,524
|
$
|
7,343
|
$
|
6,697
|
||||||||
Basic income per ordinary share (US$)
|
$
|
0.56
|
$
|
0.68
|
$
|
1.09
|
$
|
1.00
|
||||||||
Weighted average number of ordinary shares used to compute basic income per share (in thousands)
|
6,772
|
6,666
|
6,760
|
6,674
|
||||||||||||
Diluted income per ordinary share (US$)
|
$
|
0.56
|
$
|
0.67
|
$
|
1.07
|
$
|
0.99
|
||||||||
Weighted average number of ordinary shares used to compute diluted income per share (in thousands)
|
6,827
|
6,749
|
6,837
|
6,789
|
Silicom Ltd. Reconciliation of Non-GAAP Financial Results
|
||||||||||||
(US$ thousands, except for share and per share data)
|
Three-month period
|
Six-month period
|
|||||||||||||||
ended June 30,
|
ended June 30,
|
|||||||||||||||
2023
|
2022
|
2023
|
2022
|
|||||||||||||
GAAP gross profit
|
$
|
12,162
|
$
|
12,122
|
$
|
23,947
|
$
|
23,012
|
||||||||
(1) Share-based compensation (*)
|
104
|
173
|
218
|
334
|
||||||||||||
Non-GAAP gross profit
|
$
|
12,266
|
$
|
12,295
|
$
|
24,165
|
$
|
23,346
|
||||||||
GAAP operating income
|
$
|
4,002
|
$
|
4,135
|
$
|
8,053
|
$
|
6,567
|
||||||||
Gross profit adjustments
|
104
|
173
|
218
|
334
|
||||||||||||
(1) Share-based compensation (*)
|
647
|
683
|
1,257
|
1,468
|
||||||||||||
Non-GAAP operating income
|
$
|
4,753
|
$
|
4,991
|
$
|
9,528
|
$
|
8,369
|
||||||||
GAAP net income
|
$
|
3,806
|
$
|
4,524
|
$
|
7,343
|
$
|
6,697
|
||||||||
Operating income adjustments
|
751
|
856
|
1,475
|
1,802
|
||||||||||||
(2) Lease liabilities - financial expenses (income)
|
(136
|
)
|
(734
|
)
|
(304
|
)
|
(920
|
)
|
||||||||
(3) Taxes on amortization of acquired intangible assets
|
67
|
67
|
135
|
135
|
||||||||||||
Non-GAAP net income
|
$
|
4,488
|
$
|
4,713
|
$
|
8,649
|
$
|
7,714
|
||||||||
GAAP net income
|
$
|
3,806
|
$
|
4,524
|
$
|
7,343
|
$
|
6,697
|
||||||||
Adjustments for Non-GAAP Cost of sales
|
104
|
173
|
218
|
334
|
||||||||||||
Adjustments for Non-GAAP Research and development expenses
|
292
|
373
|
598
|
748
|
||||||||||||
Adjustments for Non-GAAP Selling and marketing expenses
|
196
|
163
|
349
|
371
|
||||||||||||
Adjustments for Non-GAAP General and administrative expenses
|
159
|
147
|
310
|
349
|
||||||||||||
Adjustments for Non-GAAP Financial income (loss), net
|
(136
|
)
|
(734
|
)
|
(304
|
)
|
(920
|
)
|
||||||||
Adjustments for Non-GAAP Income taxes
|
67
|
67
|
135
|
135
|
||||||||||||
Non-GAAP net income
|
$
|
4,488
|
$
|
4,713
|
$
|
8,649
|
$
|
7,714
|
||||||||
GAAP basic income per ordinary share (US$)
|
$
|
0.56
|
$
|
0.68
|
$
|
1.09
|
$
|
1.00
|
||||||||
(1) Share-based compensation (*)
|
0.11
|
0.13
|
0.21
|
0.27
|
||||||||||||
(2) Lease liabilities - financial expenses (income)
|
(0.02
|
)
|
(0.11
|
)
|
(0.04
|
)
|
(0.13
|
)
|
||||||||
(3) Taxes on amortization of acquired intangible assets
|
0.01
|
0.01
|
0.02
|
0.02
|
||||||||||||
Non-GAAP basic income per ordinary share (US$)
|
$
|
0.66
|
$
|
0.71
|
$
|
1.28
|
$
|
1.16
|
||||||||
GAAP diluted income per ordinary share (US$)
|
$
|
0.56
|
$
|
0.67
|
$
|
1.07
|
$
|
0.99
|
||||||||
(1) Share-based compensation (*)
|
0.11
|
0.13
|
0.22
|
0.27
|
||||||||||||
(2) Lease liabilities - financial expenses (income)
|
(0.02
|
)
|
(0.11
|
)
|
(0.04
|
)
|
(0.14
|
)
|
||||||||
(3) Taxes on amortization of acquired intangible assets
|
0.01
|
0.01
|
0.02
|
0.02
|
||||||||||||
Non-GAAP diluted income per ordinary share (US$)
|
$
|
0.66
|
$
|
0.70
|
$
|
1.27
|
$
|
1.14
|
(*) Adjustments related to share-based compensation expenses according to ASC topic 718 (SFAS 123 (R))
|
1 Year Silicom Chart |
1 Month Silicom Chart |
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