Silicom (SILC) has released an update.
Silicom Ltd. reported a Q1 2024 net loss of $3.4 million, a stark contrast to the previous year’s $3.5 million net income, despite achieving a strong $13M in operating cash flow. The company has launched a new $15 million share buyback program, reflecting management’s confidence in the strategic 5-Year Plan aimed at returning to profitability and growth. Silicom expects a brighter second half of 2024 with projected revenues of approximately $70 million for the full year.
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