Silicon Motion To Release Second Quarter 2023 Financial Results on July 27
06 Juillet 2023 - 2:00PM
Silicon Motion Technology Corporation (NasdaqGS: SIMO) (“Silicon
Motion” or the “Company”), a global leader in NAND flash
controllers for solid state storage devices, announces that it will
release its second quarter 2023 financial results after the market
closes on July 27, 2023. The company will not be conducting its
customary earnings conference call due to restrictions associated
with the Transaction with MaxLinear, and thus will not be providing
updates regarding the Transaction or additional financial details
or guidance beyond what will be made available in the earnings
press release. Any further material information relevant to the
transaction will be provided in subsequent press releases or public
filings with the Securities and Exchange Commission.
ABOUT SILICON MOTION:
We are the global leader in supplying NAND flash
controllers for solid state storage devices. We supply more SSD
controllers than any other company in the world for servers, PCs
and other client devices and are the leading merchant supplier of
eMMC and UFS embedded storage controllers used in smartphones, IoT
devices and other applications. We also supply customized
high-performance hyperscale data center and specialized industrial
and automotive SSD solutions. Our customers include most of the
NAND flash vendors, storage device module makers and leading OEMs.
For further information on Silicon Motion, visit us at
www.siliconmotion.com.
FORWARD-LOOKING STATEMENTS:
Information provided in this press
release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of
1934, as amended. These forward-looking statements are based on
Silicon Motion’s and MaxLinear’s current expectations, estimates
and projections about the expected date of closing of the
Transaction and the potential benefits thereof, their businesses
and industry, management’s beliefs and certain assumptions made by
Silicon Motion and MaxLinear, all of which are subject to change.
The forward-looking statements include, but are not limited to,
statements about the expected timing of the Transaction that will
result in the merger of Shark Merger Sub, with and into the
Company, with the Company continuing as the surviving company and a
wholly-owned subsidiary of MaxLinear, the satisfaction or waiver of
any conditions to the Transaction, anticipated benefits, growth
opportunities and other events relating to the Transaction, and
projections about Silicon Motion’s business and its future
revenues, expenses and profitability, and, in some cases, you can
identify forward-looking statements by terminology such as “may,”
“will,” “should,” “expect,” “intend,” “plan,” “anticipate,”
“believe,” “estimate,” “predict,” “potential,” “potentially,”
“continue,” “could,” “seek,” “see,” “would,” “might,” “continue,”
“target” or the negatives of these terms or other comparable
terminology that convey uncertainty of future events or outcomes.
All forward-looking statements by their nature address matters that
involve risks and uncertainties, many of which are beyond our
control, and are not guarantees of future results, such as
statements about the consummation of the Transaction and the
anticipated benefits thereof. These and other forward-looking
statements are not guarantees of future results and are subject to
risks, uncertainties and assumptions that could cause actual
results to differ materially from those expressed in any
forward-looking statements. Although such statements are based on
Silicon Motion’s own information and information from other sources
Silicon Motion believes to be reliable, you should not place undue
reliance on them and caution must be exercised in relying on
forward-looking statements. These statements involve risks and
uncertainties, and actual results may differ materially from those
expressed or implied in these forward-looking statements for a
variety of reasons. Potential risks and uncertainties include, but
are not limited to, the risk that the Transaction may not be
completed on the anticipated terms and timing, in a timely manner
or at all, which may adversely affect Silicon Motion’s or
MaxLinear’s respective business and the price of the ordinary
shares, par value $0.01 per share, of Silicon Motion, Silicon
Motion’s ADSs and shares of MaxLinear Common Stock; uncertainties
as to the timing of the consummation of the Transaction and the
potential failure to satisfy the conditions to the consummation of
the Transaction, including the receipt of certain governmental and
regulatory approvals, anticipated tax treatment, unforeseen
liabilities, future capital expenditures, revenues, expenses,
earnings, synergies, economic performance, indebtedness, financial
condition, losses, future prospects, business and management
strategies for the management, expansion and growth of the parties’
businesses and other conditions to the completion of the
Transaction; the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement, including the receipt by Silicon Motion of an
unsolicited proposal from a third party; the effect of the
announcement or pendency of the Transaction on the Company’s or
MaxLinear’s respective business relationships, operating results,
and business generally; expected benefits, including financial
benefits, of the Transaction may not be realized; integration of
the acquisition post-closing may not occur as anticipated, and the
combined company’s ability to achieve the growth prospects and
synergies expected from the Transaction, as well as delays,
challenges and expenses associated with integrating the combined
company’s existing businesses, may occur; litigation related to the
Transaction or otherwise; unanticipated restructuring costs may be
incurred or undisclosed liabilities assumed; attempts to retain key
personnel and customers may not succeed; risks related to diverting
attention from the parties’ ongoing businesses, including current
plans and operations; changes in tax regimes, legislation or
government regulations affecting the acquisition or the parties or
their businesses; economic, social or political conditions that
could adversely affect the Transaction or the parties, including
trade and national security policies and export controls and
executive orders relating thereto, and worldwide government
economic policies, including trade relations between the United
States and China and the military conflict in Ukraine and related
sanctions against Russia and Belarus; unpredictability and severity
of catastrophic events, including, but not limited to, acts of
terrorism or outbreak of war or hostilities, as well as the
parties’ responses to any of the aforementioned factors; exposure
to inflation, currency rate and interest rate fluctuations and
risks associated with doing business locally and internationally,
as well as fluctuations in the market prices of the parties’ traded
securities; potential business uncertainty or adverse reactions or
changes to business relationships resulting from the announcement
or completion of the Transaction; potential negative changes in
general economic conditions and market developments in the regions
or the industries in which the parties’ operate; the loss of one or
more key customers or the significant reduction, postponement,
rescheduling or cancellation of orders from one or more customers
as a result or in anticipation of the Transaction or otherwise; the
parties’ respective customers’ sales outlook, purchasing patterns,
and inventory adjustments based on consumer demands and general
economic conditions; risks associated with the ongoing global
outbreak of COVID-19, including, but not limited to, the
emergence of variants to the original COVID-19 strain such as the
Delta and Omicron variants and related private and public sector
measures; Silicon Motion’s ability to provide a safe working
environment for employees during the COVID-19 pandemic or
any other public health crises, including pandemics or epidemics;
Silicon Motion’s and MaxLinear’s abilities to implement their
business strategies; pricing trends, including Silicon Motion’s and
the MaxLinear’s abilities to achieve economies of scale;
uncertainty as to the long-term value of MaxLinear Common Stock;
restrictions during the pendency of the Transaction that may impact
the Company’s or MaxLinear’s ability to pursue certain business
opportunities or strategic transactions; and the other risk factors
discussed from time to time by Silicon Motion in the most recent
Annual Report on Form 20-F and in any subsequent reports
on Form 6-K, each of which is on file with or furnished
to the Securities and Exchange Commission (the “SEC) and available
at the SEC’s website at www.sec.gov. SEC filings for Silicon Motion
are also available on Silicon Motion’s website at
https://www.siliconmotion.com/investor. We assume no obligation to
update any forward-looking statements, which apply only as of the
date of this press release.
Investor Contacts: |
Jason
Tsai |
Selina
Hsieh |
jason.tsai@siliconmotion.com |
ir@siliconmotion.com |
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