is an industry-leading provider of high-performance server/appliances networking solutions. The Company's flagship products include a variety of multi-port Gigabit Ethernet, copper and fiber-optic, server adapters and innovative BYPASS adapters designed to increase throughput and availability of server-based systems, WAN optimization and security appliances and other mission-critical gateway applications.
WR Hambrect initiates SILC with a Buy and $25 price target (July 2007)
: 2.6 Million Shares / 6.7 Million outstanding
: 30 Miilion Dollar
Last quarter report:
Silicom Ltd. (NASDAQ and TASE: SILC) today reported record revenues, operating income and net income for the first quarter ended March 31, 2007.
Revenues for the first quarter of 2006 were $6.0 million, an increase of 84% compared with $3.3 million in the first quarter of 2005 and 21% compared to the fourth quarter of 2006. These are the Company's highest revenues on record and its 13th consecutive quarter of rising sales.
Operating income for the quarter reached a record of $1.2 million. This represented an increase of 145% compared to the first quarter of 2006 and 27% compared to the fourth quarter of 2006. Net income for the first quarter was $1.2, or $0.22 per diluted share ($0.23 per basic share), an increase of 127% compared to $548,000, or $0.11 per share (basic and diluted) for the first quarter of 2006.