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.