(RTTNews.com) - Super Micro Computer, Inc. (SMCI) said Tuesday that it now expects to report first quarter revenue of about $270 million, compared to its prior guidance of $270 to $290 million. <\/p>\n
Analysts polled by Thomson Reuters currently expect the company to post revenue of $279.54 million for the first quarter. <\/p>\n
Non-GAAP gross margin for the first quarter is expected to be about 13%. The main cause for the lower gross margin was the steep price drops for hard disk drives and memory, the company said. Margins on other products and components were stable to higher. <\/p>\n
\"Revenue for the quarter was up about 9% from last year and down slightly from our record last quarter despite challenges from a weaker global economy. The big price drops of HDD and memory, particularly late in the quarter, negatively impacted our net profit for the quarter as we adjusted to vendor contracts we entered into in the March quarter,\" said Charles Liang, Chairman and CEO. <\/p>\n
The company said it will release final first quarter financial results on October 23. <\/p>\n
Super Micro Computer shares are currently trading at $10.17, down 47 cents or 4.46%. <\/p>\n
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