Silicon Motion Technology Corporation (NASDAQ:SIMO) Q1 2024 Earnings Conference Call May 3, 2024 8:00 AM ET

Company Participants

Wallace Kou - President, Chief Executive Officer
Jason Tsai - interim Chief Financial Officer

Conference Call Participants

Mehdi Hosseini - SIG
Quinn Bolton - Needham & Co.
Craig Ellis - B. Riley Securities
Suji Desilva - Roth MKM
Matt Bryson - Wedbush Securities

Operator

Goo day and thank you for standing by. Welcome to the Silicon Motion Technology Corporation’s first quarter 2024 earnings conference call.

At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question and answer session, at which time if you wish to ask a question, you need to press star-one-one on your telephone keypad.

This conference call contains forward-looking statements within the meaning of Section 27(a) of the Securities Act of 1933 and Section 21(e) of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include without limitation statements regarding trends in the semiconductor industry and our future results of operations, financial conditions and business prospects. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them.

These statements involve risks and uncertainties and actual market trends and our 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 continued competitive pressure in the semiconductor industry and the effect of such pressures on prices, unpredictable changes in technology and consumer demand for multimedia consumer electronics, the state of and any change in our relationship with our major customers, and changes in political, economic, legal, and social conditions in Taiwan.

For additional discussion of these risks and uncertainties and other factors, please see the documents we file from time to time with the Securities and Exchange Commission. We assume no obligation to update any forward-looking statements, which apply only as of the date of this conference call.

Please be advised that today’s call is being recorded.

It is now my pleasure to hand you over to the interim Chief Financial Officer, Mr. Jason Tsai. Please go ahead.

Jason Tsai

Thank you and good morning everyone, and welcome to Silicon Motion’s first quarter 2024 financial results conference call and webcast. Joining me today is Wallace Kou, our President and CEO. Wallace will first provide a review of our key business developments and then I will discuss our first quarter results and outlook. Following our prepared remarks, we will conclude with a Q&A session.