Supermicro Provides Second Quarter Fiscal 2024 Business Update
18 Janeiro 2024 - 6:05PM
Business Wire
Expects to Exceed Prior Financial
Guidance
Supermicro, (Nasdaq: SMCI), a Total IT Solution
Manufacturer for AI, Cloud, Storage and 5G/Edge, today announced
preliminary financial results for the second quarter of fiscal year
2024, ended December 31, 2023.
With a strong market and end customer demand for our
rack-scale, AI and Total IT Solutions, Supermicro anticipates the
following results:
Expected
Range
Prior
Guidance
Net Sales
$3.6B to $3.65B
$2.7B to $2.9B
GAAP diluted net income per common
share
$4.90 to $5.05
$3.75 to $4.24
Non-GAAP diluted net income per common
share
$5.40 to $5.55
$4.40 to $4.88
This unaudited financial information is based on preliminary
results and management's estimates and is inherently uncertain and
subject to revision in connection with the Company's financial
closing procedures and finalization of the Company's financial
statements for its second quarter of fiscal year 2024. Actual
results for the second quarter of fiscal year 2024 may differ
materially from these preliminary unaudited financial results.
Conference Call and Webcast Information
Supermicro will present a live audio webcast of a conference
call to review its second quarter of fiscal year 2024 on Monday,
January 29, 2024, at 5:00 p.m. ET / 2:00 p.m. PT.
The webcast will be available at https://ir.supermicro.com.
A replay of the webcast will be available shortly after the call
at the same website and will remain accessible for one year.
Cautionary Statement Regarding Forward Looking
Statements
Statements contained in this press release that are not
historical fact may be forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such forward-looking
statements may relate to, among other things, the second quarter of
fiscal year 2024 preliminary financial information, including both
net sales and GAAP and non-GAAP diluted net income per common
share. Such forward-looking statements do not constitute guarantees
of future performance and are subject to a variety of risks and
uncertainties that could cause our actual results to differ
materially from those anticipated, including completion of the
Company's financial closing procedures and finalization of the
Company's unaudited financial statements for its second quarter of
fiscal year 2024. Additional factors that could cause actual
results to differ materially from those projected or suggested in
any forward-looking statements are contained in our filings with
the Securities and Exchange Commission, including those factors
discussed under the caption "Risk Factors" in such filings,
particularly in our Annual Report on Form 10-K for our fiscal year
ended June 30, 2023.
Use of Non-GAAP Financial Measures
Non-GAAP diluted net income per common share discussed in this
press release adds back stock-based compensation expense adjusted
for the related tax effect. Management presents non-GAAP financial
measures because it considers them to be important supplemental
measures of performance. Management uses the non-GAAP financial
measures for planning purposes, including analysis of the Company's
performance against prior periods, the preparation of operating
budgets and to determine appropriate levels of operating and
capital investments. Management also believes that the non-GAAP
financial measures provide additional insight for analysts and
investors in evaluating the Company's financial and operational
performance. However, the non-GAAP financial measures have
limitations as an analytical tool and are not intended to be an
alternative to financial measures prepared in accordance with GAAP.
Pursuant to the requirements of SEC Regulation G, the
reconciliation between the Company’s GAAP diluted net income per
common share and non-GAAP diluted net income per common share for
the second quarter of fiscal year 2024 is stock-based compensation
expense of approximately $33 million, net of the related tax
effect. The Company’s projections for GAAP and non-GAAP net income
per diluted share assume a tax rate of approximately 17.3% and
17.8%, respectively, and a fully diluted share count of 58.1
million shares for GAAP and fully diluted share count of 59.0
million shares for non-GAAP.
About Super Micro Computer, Inc.
Supermicro (NASDAQ: SMCI) is a global leader in
Application-Optimized Total IT Solutions. Founded and operating in
San Jose, California, Supermicro is committed to delivering first
to market innovation for Enterprise, Cloud, AI and 5G Telco/Edge IT
Infrastructure. We are transforming to being a Total IT Solutions
provider with server, AI, storage, IoT and switch systems, software
and services while continuing to deliver advanced high-volume
motherboard, power and chassis products. The products are designed
and manufactured in-house (in US, Taiwan and Netherlands)
leveraging global operations for scale and efficiency and optimized
to improve TCO and reduce environmental impact (Green Computing).
The award-winning portfolio of Server Building Block Solutions®
allows customers to optimize for their exact workload and
application by selecting from a broad family of systems built from
our flexible and reusable building blocks that support a
comprehensive set of form factors, processors, memory, GPUs,
storage, networking, power and cooling solutions (air conditioned,
free air cooling or liquid cooling).
Supermicro, Server Building Block Solutions, and We Keep IT
Green are trademarks and/or registered trademarks of Super Micro
Computer, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20240118785981/en/
Investor Relations Contact Nicole Noutsios email:
ir@supermicro.com
Super Micro Computer (NASDAQ:SMCI)
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