Net income (GAAP) decreased to $26.2 million or $0.73 per diluted ADS (GAAP) from a net income (GAAP) of $32.7 million or $0.92 per diluted ADS (GAAP) in the third quarter. 1 Embedded Storage comprises primarily eMMC and client SSD controllers and enterprise and industrial SSD solutions. For the fourth quarter, net income (non-GAAP) decreased to $33.9 million or $0.95 per diluted ADS (non-GAAP) from a net income (non-GAAP) of $38.3 million or $1.07 per diluted ADS (non-GAAP) in the third quarter. Fourth Quarter 2016 Review Due to continuing strength of our SSD controller business, representing our ninth consecutive quarter of SSD controller growth, we achieved fourth quarter sales that were on the high-end of our expectations, said Wallace Kou, President and CEO of Silicon Motion. On November 17, 2016, we paid $7.1 million to shareholders as the first installment of our annual dividend. Business Outlook For full year 2017, we expect sales of our client SSD controllers to continue growing strongly, but NAND flash availability will affect our SSD Solutions, said Wallace Kou, President and CEO of Silicon Motion. NAND flash tightness will start affecting our SSD Solutions beginning in the first quarter.
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