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Silicom sales up 48% in 2006

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midastouch017   Monday, 01/29/07 12:30:37 PM
Re: midastouch017 post# 79
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Silicom sales up 48% in 2006
The company’s fourth quarter 2006 revenue totaled $5 million, a 60% increase over the corresponding quarter.
Shiri Habib 29 Jan 07 16:59
Silicom Ltd. (Nasdaq:SILC; TASE:SILC) has published its financial reports for the fourth quarter of 2006 and the year as a whole. Revenue for 2006 increased by 48% to a record $16.1 million compared with $10.9 million for 2005. Net profit in 2006 increased by 97% to $2.6 million, or $0.49 per diluted share ($0.51 per basic share), compared with $1.3 million or $0.30 per diluted share ($0.31 per basic share) in 2005.
Silicom also posted quarterly revenue growth for the 12th consecutive quarter. Revenue for the fourth quarter of 2006 rose 60% totaled $5 million, an increase of 60% compared with $3.1 million in the fourth quarter of 2005, and 20% compared to the third quarter of 2006. Gross profit amounted to $2 million, 39.8% of turnover, lower than in the corresponding quarter in 2005. Operating profit for the quarter totaled $950,000, a 100% increase over the corresponding quarter. Net profit, including income from financing activity and tax returns, totaled $1.1 million, a 125% increase over the corresponding quarter.


Silicom president and CEO Shaike Orbach said, “We are proud to report an outstanding fourth quarter as the climax of the best year in our history. After crossing the $4 million revenue milestone in Q3, during the final three months of the year our sales grew by an additional 20%, giving us quarterly revenues above $5 million. The platform of 40+ design wins that we have accumulated over the past several years represents a continuously expanding source of orders, and we have been adding new design wins to the base each quarter. In addition, during the fourth quarter we began to see a ramp up in the order volumes of some of our customers - particularly those in the WAN Optimization arena - in response to the incredible growth in their markets.”

Published by Globes [online], Israel business news - www.globes.co.il - on January 29, 2007



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