Silicom’s Sales Jumped 49% to $15 Million
24 April, 2013
"We have launched our first product within Silicom’s new Intelligent Nano Time-Stamping NIC product line, whose sales we believe will ramp up to $15-$20 million within a few years"
Its Market Cap at NASDAQ jumped today to $203.5 million
Silicom’s shares in NASDAQ soared by more than 4% today after the company reported that revenues for the first quarter of 2013 rose by 49% to $15.0 million from $10.1 million in the first quarter of 2012.
Shaike Orbach, President and CEO, said the results includes a 57% increase in net income. “We believe that we will be able to compound this accelerated growth in the future – both through the continued success and expansion of our existing businesses, and through new growth engines.
“We have launched our first product within Silicom’s new Intelligent Nano Time-Stamping NIC product line, a breakthrough offering whose sales we believe will ramp up to $15-$20 million within just a few years”. Orbach revealed that one of the world’s largest networking companies – has become a customer for SETAC modules, “a development which we expect to gradually boost this customer’s orders by several million dollars per year.”
Silicom provides high-performance networking and data infrastructure solutions, mainly to data center costumers. It developed a patented Server to Appliance Converter (SETAC) technology, a unique approach to the provision of high quality standard platforms with modular front connectivity. Its Market Cap at NASDAQ jumped today to $203.5 million.
In October, 2012, Silicom has launched its new 82599ES Intel®-based QuadPort fiber 10 Gigabit Ethernet Bypass PCI Express Server Adapter. The ne product is adapter is targeted to inline network system that must maintain network connectivity at times of system failure.