GAAP net income for the first quarter decreased quarter-over-quarter to US$3.8 million or US$0.11 per diluted ADS from a GAAP net income of US$5.4 million or US$0.16 per diluted ADS in the fourth quarter of 2013.

Commenting on the results of the first quarter, Silicon Motion's President and CEO Wallace Kou said “We are off to an excellent start for 2014. I am pleased to report solid first quarter results that reflect strength from across most of our products. Our SSD+embedded sales increased sequentially in the first quarter and grew by over 60 % as compared to the same period a year ago.

In the first quarter, we began commercial sales of our TLC eMMC 4.5 controllers to our third NAND flash partner, converted the majority of our eMMC controller sales to eMMC 4.5, and began mass production of our next generation eMMC 5.0 controller.”

“I am also pleased with the progress we are making in securing new wins for our SATA 3 client SSD controller which recently began shipping to numerous US, Taiwan, and China module makers for their channel market SSD solutions. Separately, our SSD OEM partner has been making solid progress marketing their SSD solutions with our controllers and has secured an important first design-win with a tier-one PC OEM. In addition, we secured an important design win with one of our flash partners for our SSD controller.” added Wallace Kou.

“To begin commercial sales of our eMMC controllers to our third NAND flash partner, secure our first SATA 3 client SSD controller design-win with a tier-1 global PC OEM, and win our first LTE-Advanced transceiver project with our Korean handset OEM partner. These are important achievements for us, and we believe we are well positioned for growth this year and next as we build on these milestones and further expand our business.” said Wallace Kou.