Shares of the Israeli technology company Silicom Ltd (NASDAQ: SILC) got a nice lift Thursday after the company reported Q1 earnings that were better than expected. The stock ended the day up about 13%.
Silicom CEO Shaike Orbach said in the earnings release that, “Our strong first-quarter results demonstrate the growing momentum of our business.” That seems to be true as the company reported Q1 sales up nearly 20% over Q1 2016. Earnings for the quarter rose to $0.35 per share, up a full 36% year over year.
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