Silicom Ltd 6-K, filed Apr 29, 2021

Silicom Ltd. (SILC)

6-K 2021-04-29 For: 2021-04-29

Added on April 06, 2026

About this 6-K

Silicom Ltd filed this 6-K on April 29, 2021.

	March 31,			December 31,
	2021			2020

Assets

Current assets
Cash and cash equivalents	$	39,078		$	20,676
Short-term bank deposits		-			5,000
Marketable securities		26,249			35,117
Accounts receivables: Trade, net		21,780			21,660
Accounts receivables: Other		7,460			6,126
Inventories		50,629			47,650
Total current assets		145,196			136,229

Marketable securities		12,753			15,281
Assets held for employees’ severance benefits		1,721			1,833
Deferred tax assets		1,860			1,790
Property, plant and equipment, net		4,243			4,110
Intangible assets, net		1,982			1,170
Right of Use		9,666			9,913
Goodwill		25,561			25,561
Total assets	$	202,982		$	195,887

Liabilities and shareholders' equity

Current liabilities
Trade accounts payable	$	19,362		$	14,610
Other accounts payable and accrued expenses		13,006			12,953
Lease Liabilities		1,811			1,813

Total current liabilities		34,179			29,376

Lease Liabilities		7,746			8,282
Liability for employees’ severance benefits		3,157			3,256
Deferred tax liabilities		334			136

Total liabilities		45,416			41,050

Shareholders' equity
Ordinary shares and additional paid-in capital		61,293			60,139
Treasury shares		(25,827	)		(24,807	)
Retained earnings		122,100			119,505
Total shareholders' equity		157,566			154,837

Total liabilities and shareholders' equity	$	202,982		$	195,887

	Three-month period
	ended March 31,
	2021		2020
Sales	$	29,002	$	22,070
Cost of sales		19,071		14,951
Gross profit		9,931		7,119

Research and development expenses		5,020		3,800
Selling and marketing expenses		1,555		1,539
General and administrative expenses		1,063		913
Total operating expenses		7,638		6,252

Operating income		2,293		867

Financial income (loss), net		817		1,031
Income before income taxes		3,110		1,898
Income taxes		515		410
Net income	$	2,595	$	1,488

Basic income per ordinary share (US$)	$	0.38	$	0.20

Weighted average number of ordinary shares used to compute basic income per share (in thousands)		6,909		7,309

Diluted income per ordinary share (US$)	$	0.37	$	0.20

Weighted average number of ordinary shares used to compute diluted income per share (in thousands)		7,067		7,336

	Three-month period
	ended March 31,
	2021			2020

GAAP gross profit	$	9,931		$	7,119
(1) Share-based compensation (*)		147			171
Non-GAAP gross profit	$	10,078		$	7,290

GAAP operating income	$	2,293		$	867
Gross profit adjustments		147			171
(1) Share-based compensation (*)		577			551
Non-GAAP operating income	$	3,017		$	1,589

GAAP net income	$	2,595		$	1,488
Operating income adjustments		724			722
(2) Lease liabilities - financial expenses (income)		(404	)		-
(3) Taxes on amortization of acquired intangible assets		66			67
Non-GAAP net income	$	2,981		$	2,277

GAAP net income	$	2,595		$	1,488
Adjustments for Non-GAAP Cost of sales		147			171
Adjustments for Non-GAAP Research and development expenses		266			247
Adjustments for Non-GAAP Selling and marketing expenses		157			144
Adjustments for Non-GAAP General and administrative expenses		154			160
Adjustments for Non-GAAP Financial income (loss), net		(404	)		-
Adjustments for Non-GAAP Income taxes		66			67
Non-GAAP net income	$	2,981		$	2,277

GAAP basic income per ordinary share (US$)	$	0.38		$	0.20
(1) Share-based compensation (*)		0.10			0.10
(2) Lease liabilities - financial expenses (income)		(0.06	)		-
(3) Taxes on amortization of acquired intangible assets		0.01			0.01
Non-GAAP basic income per ordinary share (US$)	$	0.43		$	0.31

GAAP diluted income per ordinary share (US$)	$	0.37		$	0.20
(1) Share-based compensation (*)		0.10			0.10
(2) Lease liabilities - financial expenses (income)		(0.06	)		-
(3) Taxes on amortization of acquired intangible assets		0.01			0.01
Non-GAAP diluted income per ordinary share (US$)	$	0.42		$	0.31

Silicom Ltd. Consolidated Statements of Operations
(US$ thousands, except for share and per share data)