By RTT News, January 21, 2014, 06:37:00 PM EDT <\/p>\n
(RTTNews.com) - Super Micro Computer Inc. ( SMCI ) Tuesday reported a surge in second-quarter profit, on double-digit sales growth and improved margins. Both earnings and sales for the quarter easily topped Wall Street estimates. <\/p>\n
The company also provided a buoyant outlook for the third quarter, and upon the announcement of which, Super Micro Computer stock touched a new high in a year - gaining 15.4 percent to trade at $21.35 in after-hours on the Nasdaq. <\/p>\n
Super Micro Computer provides high performance server solutions based on modular and open-standard architecture. <\/p>\n
The San Jose, California-based company posted second-quarter net income of $13 million or $0.30 per share, compared with $5 million or $0.11 per share last year. <\/p>\n
Results for the quarter include $2.8 million of stock-based compensation expense. <\/p>\n
Excluding items, adjusted earnings for the quarter were $16 million or $0.35 per share, compared with about $8 million or $0.18 per share a year ago. <\/p>\n
On average, three analysts polled by Thomson Reuters expected earnings of $0.26 per share for the quarter. Analysts' estimates typically exclude one-time items. <\/p>\n
Sales for the quarter jumped 22.3 percent to $356.4 million from $291.5 million in the prior year, topping analysts' expectations of $333.5 million. <\/p>\n
CEO Charles Liang said the quarter saw revenue accretion in Asia, which now accounts for 23 percent of business. Liang said the company's Twin family, especially the FatTwin, storage and GPU\/Xeon Phi product lines acted as catalysts. <\/p>\n
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Super Micro Computer Profit Tops Estimates, Outlook Strong; Stock Up - Update<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" By RTT News, January 21, 2014, 06:37:00 PM EDT (RTTNews.com) - Super Micro Computer Inc. ( SMCI ) Tuesday reported a surge in second-quarter profit, on double-digit sales growth and improved margins. Continue reading