Silicom Beats On Q4 Earnings, Issues Inline Q1 Revenue Outlook

Silicom Ltd SILC reported fourth-quarter FY22 revenue growth of 24% year-on-year to $45.19 million, beating the analyst consensus of $43.74 million.
Non-GAAP EPS of $0.98 beat the analyst consensus of $0.96.
The non-GAAP gross margin decreased 137 bps to 33.5%, and the non-GAAP operating margin expanded 345 bps to 17.6%.
Silicom held $34.8 million in cash and equivalents.
Liron Eizenman, Silicom's President and CEO, commented, "In fact, we have entered 2023 with our highest-ever year-start backlog, driven by overwhelming demand for our new products, including especially our Edge Networking solutions. Customers ranging from telcos, services providers, OEMs, and software vendors to appliance vendors, cloud players, and Enterprises are coming to us for use cases ranging from SD-WAN and SASE to Enhanced-Internet and telco-dedicated routing."
Outlook: Silicom sees Q1 revenue of $37 million- $38 million versus the analyst consensus of $37.84 million over limited visibility due to a challenging mixed-signal environment that is impacted both by the global economic slowdown and the expected loosening of the supply chain after a long period of component shortages.
Price action: SILC shares traded higher by 0.97% at $49 premarket on the last check Monday.

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