Silicom Ltd. (SILC)

[clairmontasap]

Yesterday's news (pre-sell off) sounds good:

8:15a ET April 28, 2008 (Business Wire)
Silicom Ltd. (NASDAQ:SILC)(TASE:SILC) today reported its financial results for the first quarter ended March 31, 2008.

Revenues for the first quarter of 2008 reached a record $7.7 million, an increase of 27% compared with $6.0 million recorded in the first quarter of 2007.

Net income for the period increased by 39% to $1.7 million, or $0.26 per share (basic and diluted), compared with $1.2 million, or $0.22 per diluted share ($0.23 per basic share), for the first quarter of 2007.

As of the end of the first quarter, the Company's cash, cash equivalents and marketable securities totaled $35.1 million, an increase of $2.2 million compared with the end of 2007.

Commenting on the results, Shaike Orbach, President and CEO, said, "We are pleased to report another quarter of record revenues and sequential revenue growth, especially in a market environment that has entered a period of slowdown. Despite the current uncertainty, we continue to see many opportunities in our target markets that we are well-positioned to address. During the past year, we built our business to a new level, increasing our customer base to over 50 companies, many of them leaders in our target markets, and made a successful initial penetration into the vast Chinese market. In parallel, we broadened our product portfolio in ways that enhance our competitive positioning in our addressable markets. We believe these are differentiating advantages that will help us continue to win business and to grow our company over the long term."

Conference Call Details:

Silicom's Management will host an interactive conference today, April 28th, at 9am EDT (6am Pacific Time, 4pm Israel Time) to review and discuss the results. To participate, please call one of the following numbers approximately 10 minutes before that time. US: 1 888 407 2553 (toll free) UK: 0 800 917 5108 (toll free) ISRAEL: 03 918 0610 (not toll free) INTERNATIONAL: [phone] (not toll free)

For those unable to listen to the live call, a replay of the call will be available for three months from the day after the call under the investor relations section of Silicom's website, at: www.silicom.co.il ##

About Silicom