Silicom Ltd. said Thursday that net income for the first quarter surged 127% as sales spiked 84%.
"The momentum of our business accelerated again during the first quarter, enabling us to achieve another record quarter in terms of revenues, operating profit, net profit and cash. This strong performance demonstrates the cumulative benefit of our growing Design in platform, together with the ramp-up of demand for our BYPASS adapters," President and CEO Shaike Orbach said in a statement.
For the quarter ended March 31, the Kfar Saba-based provider of high-performance server/appliances networking solutions said it earned $1.2 million, or 22 cents a share, on revenue of $6m., up from earnings of $548,000, or 11 cents a share, on revenue of $3.3m. for the first quarter of 2006.
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