Bloomberg News

Silicom Soars to Highest Since August as Quarterly Profit Jumps

October 24, 2011

Oct. 24 (Bloomberg) -- Silicom Ltd. climbed to the highest level in almost three months after the developer of products for mobile users said third-quarter profit surged.

The shares surged 9.8 percent to 60.38 shekels, the highest since Aug. 2, at the 4:30 p.m. close in Tel Aviv.

Net income increased to $2.1 million from $1.4 million in the year-earlier period, Silicom said in a Business Wire statement today. Revenue rose to $10 million from $7.4 million.

--Editors: Claudia Maedler, Susan Lerner

-0- Oct/24/2011 14:48 GMT

-0- Oct/24/2011 14:57 GMT

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon21@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net


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