Silicom CEO Shaike Orbach: China's server usage is growing in step with the phenomenal development of its telecom.
Server appliance networking solutions provider Silicom Ltd. (Nasdaq:SILC; TASE:SILC) has received a $1.8 million order for its fiber multi-port Gigabit Ethernet adapters from a Chinese domestic server company. This is Silicom's first contract in China. Delivery will be made during the first quarter. The share rose 11.4% at the opening on Nasdaq today to $16.29 giving a market cap of $106 million. The share rose 9.8% on the TASE.
Silicom president and CEO Shaike Orbach said, “China’s rapid growth represents a huge new opportunity for Silicom, especially the fact that its server usage is growing in step with the phenomenal development of its telecom, transportation, banking and other sectors."
Silicom posted a net profit of $6.3 million on $96 million revenue in 2007.
Published by Globes [online], Israel business news - www.globes-online.com - on February 4, 2008
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