Silicon Motion to Report Second Quarter 2022 Financial Results on July 27
TAIPEI, Taiwan and MILPITAS, Calif., July 07 11, 2022 (GLOBE NEWSWIRE) — 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 2022 financial results after market close on July 27, 2022. The Company will not be holding its regular earnings conference call due to restrictions associated with the pending merger with MaxLinear, and therefore will not be providing updates. update regarding the transaction or additional financial details or advice beyond what will be made available in the earnings press release. Any other material information regarding the transaction will be provided in subsequent press releases or public filings with the Securities and Exchange Commission.
ABOUT SILICON MOVEMENT:
We are the world’s leading supplier of 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 provide custom high-performance hyperscale data centers and specialized industrial and automotive SSD solutions. Our customers include most NAND flash vendors, storage device module manufacturers and major OEMs. For more information about Silicon Motion, visit us at www.siliconmotion.com.
The 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 and MaxLinear’s current expectations, estimates and projections regarding the expected closing date of the proposed 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. Forward-looking statements include, but are not limited to, statements about the expected timing of the merger, the satisfaction or waiver of any condition of the proposed merger, anticipated benefits, growth opportunities and other events relating to the proposed merger, 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 words such as “may”, “will”, “should “, “expects”, “intends”, “plan”, “anticipate”, “believe”, “estimate”, “predict”, “potential”, “potentially”, “continue”, ” may”, “seek”, “see”, “could”, “could”, “continue”, “target” or the negatives of these or other comparable terms that convey uncertainty of events or results future. 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 completion of the proposed transaction. and the expected 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 the forward-looking statements. Although these statements are based on Silicon Motion’s own information and on information from other sources Silicon Motion believes to be reliable, you should not place undue reliance on them and should exercise caution when relying on forward-looking statements. These statements involve risks and uncertainties, and actual results may differ materially from those expressed or implied by 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 time and on schedule, in a timely manner or at all, which could adversely affect the business. shares of Silicon Motion or MaxLinear and the price of the common stock, par value $0.01 per share, of Silicon Motion, the Silicon Motion American Depository Stocks (ADS) and the common stock, d $0.0001 par value, of MaxLinear (“MaxLinear Common Stock”); uncertainties as to the timing of the completion of the transaction and the potential failure to meet the conditions to the completion of the transaction, including the receipt of certain governmental and regulatory approvals, expected tax treatment, unforeseen liabilities, capital expenditures future, revenues, expenses, profits, 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 completion of the transaction; the occurrence of any event, change or other circumstance that may give rise to the termination of the Merger Agreement, including receipt by Silicon Motion of an unsolicited proposal from a third party; the effect of the announcement or expectation of the transaction on the Company’s or MaxLinear’s respective business relationships, results of operations and business generally; the possibility that securityholders of the Company will not approve the Merger; the anticipated benefits, including financial benefits, of the transaction may not materialize; the integration of the acquisition after closing may not occur as expected, and the ability of the combined company to realize the growth prospects and synergies expected from the transaction, and the associated delays, challenges and expenses to the integration of the existing activities of the combined company, may arise; Merger-related or other litigation; unexpected restructuring costs may be incurred or undisclosed liabilities may be assumed; attempts to retain key personnel and customers may fail; the risks of diverting attention from the parties’ ongoing activities, including ongoing plans and operations; changes in tax regimes, laws or governmental regulations affecting the acquisition or the parties or their businesses; economic, social or political conditions that may adversely affect the Merger or the parties, including trade and national security policies and export controls and orders relating thereto, and worldwide governmental economic policies, including U.S.-China trade relations and the military conflict in Ukraine and related sanctions against Russia and Belarus; the unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or the outbreak of war or hostilities, as well as the parties’ response to any of the foregoing factors; exposure to inflation, currency and interest rate fluctuations and risks associated with local and international business activities, as well as fluctuations in the market prices of securities traded by the parties; potential business uncertainty or adverse reactions or changes in business relationships resulting from the announcement or completion of the Merger; potential adverse changes in general economic conditions and market developments in the regions or industries in which the parties operate; the loss of one or more key customers or the material reduction, postponement, rescheduling or cancellation of orders from one or more customers as a result of or in anticipation of the Merger or otherwise; the sales prospects of the parties’ respective customers, purchasing patterns and inventory adjustments based on consumer demand and general economic conditions; risks associated with the current global outbreak of COVID-19, including but not limited to the emergence of variants of the original strain of COVID-19 such as the Delta and Omicron variants and related industry measures private and public; Silicon Motion’s ability to provide a safe work environment for employees during the COVID-19 pandemic or any other public health crisis, including pandemics or epidemics; the abilities of Silicon Motion and MaxLinear to implement their business strategies; pricing trends, including Silicon Motion’s and MaxLinear’s ability to achieve economies of scale; uncertainty as to the long-term value of MaxLinear common stock; restrictions during the term of the proposed transaction that could impact the Company’s or MaxLinear’s ability to pursue certain business opportunities or strategic transactions; and other risk factors discussed from time to time by Silicon Motion in the most recent annual report on Form 20-F and in all subsequent reports on Form 6-K, each of which is filed with the Securities and Exchange Commission or provided to this one. (the “SEC”) and available on the SEC’s website at www.sec.gov. SEC filings for Silicon Motion are available on Silicon Motion’s website at https://www.siliconmotion.com/investor. We undertake no obligation to update any forward-looking statements, which speak only as of the date of this press release.