Silicon Motion Technology Corporation reported a decrease in net sales for the first quarter of 2025, with figures falling to $166.5 million, a 13% drop quarter-over-quarter and a 12% decline year-over-year. The company also experienced a decrease in net income, which fell to $19.5 million, or $0.58 per diluted American depositary share, compared to $21.6 million, or $0.64 per diluted ADS, in the previous quarter. The decrease in net sales was reflected across various segments, with SSD controller sales dropping between 10% to 15% quarter-over-quarter and 20% to 25% year-over-year. eMMC+UFS controller sales decreased by 15% to 20% quarter-over-quarter and showed a slight year-over-year variation of 0% to 5%. SSD solutions sales saw a significant decline, decreasing by 20% to 25% quarter-over-quarter and 35% to 40% year-over-year. In addition to these financial results, Silicon Motion announced a new $50 million share repurchase program, indicating a strategic move to enhance shareholder value.
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