Silicom Reports Record Q4 and 2005 Results: Best-Ever Quarter and Best-Ever Year
Monday January 30, 9:31 am ET
KFAR SAVA, Israel--(BUSINESS WIRE)--Jan. 30, 2006--Silicom Ltd. (NASDAQ and TASE: SILC):
After Rising for 8th Consecutive Quarters, Revenues Reach $3.1M for Q4 & $10.9M for 2005
4th Profitable Quarter in a Row Yields Record $0.11 EPS for Q4, $0.30 EPS for 2005
Silicom Ltd. (NASDAQ and TASE: SILC) today reported record financial results for the fourth quarter and year ended December 31, 2005.
Revenues for the fourth quarter of 2005 were $3,126,000, an increase of 98% compared with $1,581,000 for the fourth quarter of 2004, and an increase of 10% compared with $2,832,000 for the third quarter of 2005. These are the highest quarterly revenues in Silicom's history and the Company's eighth consecutive quarter of rising revenues.
Net income for the quarter was $473,000, or $0.11 per share (basic and diluted), a new record for the Company, compared with a net loss of ($87,000), or ($0.02) per share for the fourth quarter of 2004.
Revenues for the year ended December 31, 2005 rose to an all-time high of $10,876,000, an increase of 139% compared with $4,559,000 for 2004. The Company's net income from the year's four profitable quarters was $1,322,000, or $0.30 per diluted share, compared to a net loss of ($1,240,000), or ($0.30) per diluted share for 2004.
Commenting on the results, Shaike Orbach, President and CEO, said, "We are proud to report the best quarter in our history, a strong end for a successful 2005 with four quarters of rising revenues and profits. For the first time ever, our yearly sales have crossed the $10 million milestone and we have posted a 12% net margin.
"These satisfying results demonstrate the quantum leap forward that Silicom achieved in 2005. Throughout the year, our momentum intensified, with early customers ramping up their order volumes significantly and a growing number of new customers giving us new significant Design Wins, such as the two Design Wins with Fortune 100 companies announced during the fourth quarter alone. Now, with more than 30 Design Wins and more than 100 potential customers in the pipe line, we have established presence in the security, storage, load balancing, traffic management and other industries and are positioned to benefit from their growth."
Mr. Orbach continued, "In light of increased Israeli interest in our share, we have recently dual-listed the Company on the Tel Aviv Stock Exchange, a move we hope will expand our liquidity and trading volumes. In addition, we have recently completed an oversubscribed public offering of shares and options, raising approximately $6 million dollars. We are gratified by this vote of confidence and pledge to continue working to build the Company and shareholder value."
Silicom Ltd. 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, security appliances and other mission-critical gateway applications. Silicom also offers a broad range of its traditional PC Cards, PCI cards and USB products. For more information, please visit: www.silicom.co.il. http://biz.yahoo.com/bw/060130/20060130005635.html?.v=1