SILICOM Ltd.
(Registrant)
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|||
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By:
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/s/ Eran Gilad | |
Eran Gilad | |||
CFO | |||
Company Contact:
Eran Gilad, CFO
Silicom Ltd.
Tel: +972-9-764-4555
E-mail: erang@silicom.co.il
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Investor relations contact:
Kenny Green / Ehud Helft
CCG Israel Investor Relations
Tel: +1 646 201 9246
E-mail : silicom@ccgisrael.com
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September 30,
2013
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December 31,
2012
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Assets | ||||||||
Current assets
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||||||||
Cash and cash equivalents
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$ | 12,517 | $ | 13,306 | ||||
Short-term bank deposits
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- | 2,527 | ||||||
Marketable securities
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15,584 | 12,583 | ||||||
Accounts receivables: Trade, net
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8,323 | 12,391 | ||||||
Accounts receivables: Other
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2,306 | 2,234 | ||||||
Inventories
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31,604 | 14,795 | ||||||
Deferred tax assets
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194 | 47 | ||||||
Total current assets
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70,528 | 57,883 | ||||||
Marketable securities
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22,139 | 28,469 | ||||||
Assets held for employees’ severance benefits
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1,509 | 1,377 | ||||||
Deferred tax assets
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338 | 114 | ||||||
Property, plant and equipment, net | 1,430 | 1,190 | ||||||
Intangible assets, net
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197 | - | ||||||
Total assets
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$ | 96,141 | $ | 89,033 |
Liabilities and shareholders' equity | ||||||||
Current liabilities
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||||||||
Trade accounts payable
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$ | 6,259 | $ | 7,875 | ||||
Other accounts payable and accrued expenses
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3,930 | 3,914 | ||||||
Total current liabilities
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10,189 | 11,789 | ||||||
Liability for employees’ severance benefits
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2,562 | 2,278 | ||||||
Total liabilities
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12,751 | 14,067 | ||||||
Shareholders' equity
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Ordinary shares and additional paid-in capital
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38,011 | 36,086 | ||||||
Treasury shares
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(38 | ) | (38 | ) | ||||
Retained earnings
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45,417 | 38,918 | ||||||
Total Shareholders' equity
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83,390 | 74,966 | ||||||
Total liabilities and shareholders' equity
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$ | 96,141 | $ | 89,033 |
Three-month period
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Nine-month period
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|||||||||||||||
ended September 30,
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ended September 30,
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2013
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2012
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2013
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2012
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Sales
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$ | 17,200 | $ | 11,522 | $ | 47,945 | $ | 32,036 | ||||||||
Cost of sales
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10,183 | 6,515 | 28,598 | 18,442 | ||||||||||||
Gross profit
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7,017 | 5,007 | 19,347 | 13,594 | ||||||||||||
Research and development expenses
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1,305 | 1,028 | 3,894 | 3,111 | ||||||||||||
Selling and marketing expenses
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1,004 | 799 | 2,717 | 2,079 | ||||||||||||
General and administrative expenses
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636 | 502 | 1,863 | 1,564 | ||||||||||||
Total operating expenses
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2,945 | 2,329 | 8,474 | 6,754 | ||||||||||||
Operating income
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4,072 | 2,678 | 10,873 | 6,840 | ||||||||||||
Financial income, net
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100 | 172 | 280 | 624 | ||||||||||||
Income before income taxes
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4,172 | 2,850 | 11,153 | 7,464 | ||||||||||||
Income taxes
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152 | 269 | 741 | 624 | ||||||||||||
Net income
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$ | 4,020 | $ | 2,581 | $ | 10,412 | $ | 6,840 | ||||||||
Basic income per ordinary share (US$)
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$ | 0.57 | $ | 0.37 | $ | 1.47 | $ | 0.99 | ||||||||
Weighted average number of ordinary shares used to compute basic income per share (in thousands)
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7,115 | 6,931 | 7,098 | 6,929 | ||||||||||||
Diluted income per ordinary share (US$)
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$ | 0.55 | $ | 0.37 | $ | 1.44 | $ | 0.97 | ||||||||
Weighted average number of ordinary shares used to compute diluted income per share (in thousands)
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7,276 | 7,020 | 7,238 | 7,021 |
Three-month period
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Nine-month period
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ended September 30,
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ended September 30,
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|||||||||||||||
2013
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2012
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2013
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2012
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GAAP gross profit
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$ | 7,017 | $ | 5,007 | $ | 19,347 | $ | 13,594 | ||||||||
(1) Share-based compensation (*)
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26 | 9 | 77 | 17 | ||||||||||||
Non-GAAP gross profit
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$ | 7,043 | $ | 5,016 | $ | 19,424 | $ | 13,611 | ||||||||
GAAP operating income
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$ | 4,072 | $ | 2,678 | $ | 10,873 | $ | 6,840 | ||||||||
(1) Share-based compensation (*) | 170 | 124 | 502 | 320 | ||||||||||||
(2) Amortization of intangible assets
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3 | - | 3 | - | ||||||||||||
Non-GAAP operating income
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$ | 4,245 | $ | 2,802 | $ | 11,378 | $ | 7,160 | ||||||||
GAAP net income
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$ | 4,020 | $ | 2,581 | $ | 10,412 | $ | 6,840 | ||||||||
(1) Share-based compensation (*) | 170 | 124 | 502 | 320 | ||||||||||||
(2) Amortization of intangible assets
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3 | - | 3 | - | ||||||||||||
Non-GAAP net income
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$ | 4,193 | $ | 2,705 | $ | 10,917 | $ | 7,160 | ||||||||
GAAP basic income per ordinary share (US$)
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$ | 0.57 | $ | 0.37 | $ | 1.47 | $ | 0.99 | ||||||||
(1) Share-based compensation (*) | 0.02 | 0.02 | 0.07 | 0.04 | ||||||||||||
(2) Amortization of intangible assets
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- | - | - | - | ||||||||||||
Non-GAAP basic income per ordinary share (US$)
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$ | 0.59 | $ | 0.39 | $ | 1.54 | $ | 1.03 | ||||||||
GAAP diluted income per ordinary share (US$)
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$ | 0.55 | $ | 0.37 | $ | 1.44 | $ | 0.97 | ||||||||
(1) Share-based compensation (*) | 0.03 | 0.02 | 0.07 | 0.05 | ||||||||||||
(2) Amortization of intangible assets
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- | - | - | - | ||||||||||||
Non-GAAP diluted income per ordinary share (US$)
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$ | 0.58 | $ | 0.39 | $ | 1.51 | $ | 1.02 |
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