Business
Silicom Reports Record Annual Results: $150.6M Revenues with $3.12 Non-GAAP EPS
- 2022 Revenues Up 17% and Non-GAAP EPS Up 55% – KFAR SAVA, Israel, Jan. 30, 2023 /PRNewswire/ -- Silicom Ltd. (NASDAQ: SILC), a leading provider of
About this update from Silicom Ltd
[{"type":"text","content":"- 2022 Revenues Up 17% and Non-GAAP EPS Up 55% –\nKFAR SAVA, Israel, Jan. 30, 2023 /PRNewswire/ -- Silicom Ltd. (NASDAQ: SILC), a leading provider of high-performance networking and data infrastructure solutions, today reported its financial results for the fourth quarter and full year ended December 31, 2022.\n \nFinancial Results\nFull Year: Silicom's revenues for 2022 totalled $150.6 million, up 17% compared with $128.5 million for 2021.\nOn a GAAP basis, net income for the period totalled $18.3 million, or $2.69 per diluted share ($2.73 per basic share), up 74% compared with $10.5 million, or $1.51 per diluted share ($1.54 per basic share) for 2021.\nOn a non-GAAP basis (as described and reconciled below), net income for the period totalled $21.2 million, or $3.12 per diluted share ($3.17 per basic share), up 52% compared with $14.0 million, or $2.01 per diluted share ($2.05 per basic share) for 2021.\nFourth Quarter: Silicom's revenues for the fourth quarter of 2022 totalled $45.2 million, up 24% compared with $36.3 million for the fourth quarter of 2021.\nOn a GAAP basis, net income for the quarter totalled $5.6 million, or $0.82 per diluted share ($0.84 per basic share), up 71% compared with $3.3 million, or $0.48 per diluted share ($0.49 per basic share), for the fourth quarter of 2021.\nOn a non-GAAP basis (as described and reconciled below), net income for the quarter totalled $6.6 million, or $0.98 per diluted share ($0.99 per basic share), up 48% compared with $4.5 million, or $0.65 per diluted share ($0.67 per basic share), for the fourth quarter of 2021.\nGuidance \nWhile we move into 2023 with an all-time-record year-start backlog, our visibility is limited due to a challenging mixed-signal environment that is impacted both by the global economic slowdown and the expected loosening of the supply chain after a long period of component shortages. We therefore project that our revenues for the first quarter of 2023 will range between $37 million and $38 million. The midpoint of this range represents 17% year-over-year revenue growth over the first quarter of 2022.\nComments of Management \nLiron Eizenman, Silicom's President and CEO, commented, \"Given the year's complex and challenging environment, we are particularly proud to report exceedingly strong results for 2022, with 17% growth in revenues, impressive operat...