Super Micro Computer, Inc. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2012; Provides Earnings Guidance for the Third Quarter Ending March 31, 2013
January 23, 2013 at 02:35 am IST
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Super Micro Computer, Inc. reported consolidated unaudited earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net sales of $291,487,000 against $249,915,000 a year ago. Income from operations was $7,608,000 against $13,718,000 a year ago. Income before income tax provision was $7,463,000 against $13,565,000 a year ago. Net income was $4,914,000 against $8,774,000 a year ago. Diluted per share was $0.11 against $0.20 per share a year ago. Non-GAAP income from operations was $10,517,000 against $16,225,000 a year ago. Non-GAAP net income was $7,826,000 against $11,165,000 a year ago. Non-GAAP net income per common share diluted was $0.18 against $0.25 a year ago.
For the six months, the company reported net sales of $562,194,000 against $497,800,000 a year ago. Income from operations was $9,290,000 against $27,232,000 a year ago. Income before income tax provision was $9,005,000 against $26,902,000 a year ago. Net income was $5,813,000 against $17,266,000 a year ago. Diluted per share was $0.13 against $0.39 per share a year ago. Net cash provided by operating activities was $5,603,000 against $36,890,000 a year ago. Purchases of property, plant and equipment was $2,790,000 against $18,260,000 a year ago. Non-GAAP income from operations was $15,102,000 against $32,069,000 a year ago. Non-GAAP net income was $10,879,000 against $21,650,000 a year ago. Non- GAAP net income per common share diluted was $0.25 against $0.49 a year ago.
The company provided earnings guidance for the third quarter ending March 31, 2013. For the quarter, the company expected net sales of $275 million to $295 million for the third quarter ending March 31, 2013. The company expects non-GAAP earnings per diluted share of approximately $0.17 to $0.21 for the third quarter. Excluding the tax benefit for the R&D credit mentioned above and using a 25% tax rate, the earnings per diluted share would be approximately $0.14 to $0.18. Effective tax rate on non-GAAP basis to be approximately 6% for the March quarter, which is down from 26.6% in the same quarter last year. The decrease in tax rate is due to the reinstatement of the R&D tax credit, which passed in January 2013.
Super Micro Computer, Inc. specializes in the design, manufacture and marketing of high-performance server and storage systems, based on an innovative, modular and open architecture. Net sales break down by family of products as follows:
- servers and data storage systems (92.2%): accelerated computing platforms made up of a combination of servers and storage systems, designed for data centers, cloud computing, enterprise computing, Hadoop/Big Data, high-performance computing, artificial intelligence, 5G/IdO/Edge technologies and embedded systems. The group also offers server management and security software solutions, as well as professional services;
- modular server subsystems and accessories (7.8%): server boards, enclosures, processors, motherboards, power supplies, adapters, switches, networking systems, cables, ventilation systems, etc.
At the end of June 2023, the group has 3 production sites located in the United States, the Netherlands and Taiwan.
Net sales are distributed geographically as follows: The United States (67.9%), Asia (14.7%), Europe (14.1%) and others (3.3%).
Super Micro Computer, Inc. Reports Consolidated Unaudited Earnings Results for the Second Quarter and Six Months Ended December 31, 2012; Provides Earnings Guidance for the Third Quarter Ending March 31, 2013