TAIPEI, Taiwan, Dec. 14, 2012 (GLOBE NEWSWIRE) -- Silicon Motion Technology Corporation (Nasdaq:SIMO) ("Silicon Motion" or the "Company"), a global leader in designing and marketing NAND flash controllers for solid state storage devices and a leading specialty RF IC solutions provider for mobile devices, today announced that it has been named the "Best Financially Managed Semiconductor Company" for 2012 for semiconductor companies with less than $500 million in annual sales by the Global Semiconductor Alliance ("GSA"). Silicon Motion was presented with the award at the annual GSA Awards Dinner Celebration on December 13, 2012. This event recognizes semiconductor companies that have demonstrated excellence through the execution of their vision and strategy and delivery of strong revenue growth and profitability.
The GSA selection process interviewed select financial analysts and reviewed the overall performance and financial health of semiconductor companies. Silicon Motion was named the best financially managed semiconductor company based on a number of metrics including growth rates, gross and operating profitability, cash flow and return on capital. Recent recipients of "Best Financially Managed Semiconductor Company" include Avago Technologies in 2011 and Altera Corporation in 2010.
"We are proud of the dedication and hard work of our employees, without whom our success would not be possible and which has led Silicon Motion to be recognized by the GSA as the industry's best financially managed company in 2012," said Wallace Kou, Silicon Motion's President and CEO. "This is a tremendous honor and is also a testament of our competitive products, technology leadership, and strong customer support—all critical factors for delivering outstanding financial performance to our shareholders."
The Global Semiconductor Alliance (GSA) mission is to accelerate the growth and increase the return on invested capital of the global semiconductor industry by fostering a more effective ecosystem through collaboration, integration and innovation. It addresses the challenges within the supply chain including IP, EDA/design, wafer manufacturing, test and packaging to enable industry-wide solutions. Providing a platform for meaningful global collaboration, the Alliance identifies and articulates market opportunities, encourages and supports entrepreneurship, and provides members with comprehensive and unique market intelligence. Members include companies throughout the supply chain representing 25 countries across the globe. For further information on the GSA, visit www.gsaglobal.org.
About Silicon Motion:
We are a fabless semiconductor company that designs, develops and markets high performance, low-power semiconductor solutions for the multimedia consumer electronics market. We have two major product lines, mobile storage and mobile communications. Our mobile storage business is composed of microcontrollers used in NAND flash memory storage products such as flash memory cards, USB flash drives, SSDs, and embedded flash applications. Our mobile communications business is composed primarily of handset transceivers and mobile TV IC solutions. For further information on Silicon Motion, visit www.siliconmotion.com.
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