Silicon Image Earnings: Here’s Why Investors are Excited Now

Silicon Image, Inc. (NASDAQ:SIMG) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.61%.

Silicon Image, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 60% to $0.08 in the quarter versus EPS of $0.05 in the year-earlier quarter.

Revenue: Rose 15.44% to $73.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Silicon Image, Inc. reported adjusted EPS income of $0.08 per share. By that measure, the company beat the mean analyst estimate of $0.07. It beat the average revenue estimate of $71.86 million.

Quoting Management: “The strong financial results in the quarter demonstrate continued execution on our strategic plan,” said Camillo Martino, chief executive officer of Silicon Image, Inc. “During the quarter we saw continuing adoption of our MHL connectivity solutions in mobile devices, our CE business stabilized with MHL’s advance into DTV and home theater markets, and we made solid progress in realizing the goals we set for our 60GHz wireless technology.”

Key Stats (on next page)…

Revenue increased 18.79% from $62.04 million in the previous quarter. EPS increased 100% from $0.04 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.12 to a profit $0.10. For the current year, the average estimate has moved down from a profit of $0.33 to a profit of $0.29 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)