SAN JOSE, Calif.--(BUSINESS WIRE)-- <\/p>\n
Super Micro Computer, Inc. (SMCI - News), a leader in application optimized, high performance server solutions, today announced third quarter fiscal 2012 financial results for the quarter ended March 31, 2012. <\/p>\n
Fiscal 3rd Quarter Highlights <\/p>\n
Net sales for the third quarter ended March 31, 2012 totaled $240.2 million, down 3.9% from $249.9 million in the second quarter of fiscal year 2012. No customer accounted for more than 10% of net sales during the quarter ended March 31, 2012. <\/p>\n
Net income for the third quarter of fiscal year 2012 was $7.1 million or $0.16 per diluted share, a decrease of 33.8% from the net income of $10.7 million, or $0.25 per diluted share in the same period a year ago. Included in net income for the quarter is $2.6 million of stock-based compensation expense (pre-tax). Excluding this item and the related tax effect, non-GAAP net income for the third quarter was $8.8 million, or $0.19 per diluted share, compared to non-GAAP net income of $12.3 million, or $0.28 per diluted share, in the same quarter of the prior year. On a sequential basis, non-GAAP net income decreased from the second quarter of fiscal year 2012 by $2.4 million or $0.06 per diluted share. <\/p>\n
Gross margin for the third quarter was 17.0% compared to 16.2% in the same period a year ago. Non-GAAP gross margin for the third quarter was 17.0% compared to 16.2% in the same period a year ago. Non-GAAP gross margin was 17.1% for the second quarter of fiscal year 2012. <\/p>\n
The Company's cash and cash equivalents and short and long term investments at March 31, 2012 were $92.2 million compared to $75.2 million at June 30, 2011. Free cash flow in the nine months ended March 31, 2012 was $0.2 million. <\/p>\n
Business Outlook & Management Commentary <\/p>\n
The Company expects net sales of $280 million to $310 million for the fourth quarter of fiscal year 2012 ending June 30, 2012. The Company expects non-GAAP earnings per diluted share of approximately $0.27 to $0.32 for the fourth quarter. <\/p>\n
We are pleased that we grew revenue year over year in a seasonally soft quarter despite the headwinds of the hard drive shortage and pause in purchasing leading up the Sandy Bridge technology transition. We saw improvement in our system sales to 48.5% and as a result our gross margins held steady,\" said Charles Liang, CEO of Supermicro. \"With the worst of the hard drive shortage behind us and the recent strong launch of Sandy Bridge we are looking forward to a much stronger growth in the remainder of calendar 2012. Our R&D investment while higher than expected in the new Sandy Bridge generation product lines has well positioned us ahead of competition with the broadest product offering in the industry. A new server refresh cycle is beginning and with our new product architectures and our data center optimized product such as the Fat Twin leading the server industrys innovation, we expect our upcoming performance to be strong.\" <\/p>\n<\/p>\n
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Super Micro Computer, Inc. Announces 3rd Quarter 2012 Financial Results<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" SAN JOSE, Calif.--(BUSINESS WIRE)-- Super Micro Computer, Inc. (SMCI - News), a leader in application optimized, high performance server solutions, today announced third quarter fiscal 2012 financial results for the quarter ended March 31, 2012 Continue reading