Silicom reports Q3 non-GAAP EPS 30c vs, $1.01 last year

Reports Q3 revenue $30.1M vs. $39.2M last year. CEO Liron Eizenman commented, “While our Q3 revenues were in line with our projections, they were lower than they have been for the past two years, reflecting our customers’ continued draw-down of the large inventories they had stockpiled during the Covid era, compounded by ongoing macro-economic headwinds. Given the persistent volatility and low visibility of this market environment, we expect the next several quarters to continue to be challenging. Thus, we have already begun to take several actions to manage discretionary costs and align spending with the current environment. Nonetheless, we strongly believe that we will return to double digit growth in 2025…As we navigate the challenges of the short-term environment, we see that our long-term demand drivers remain intact, and we remain well-positioned as a key industry player. Given the growing potential of our existing design wins, our long and deep pipeline and our continually growing total addressable market, I am optimistic regarding our long-term future, from 2025 and beyond.”