Super Micro Computer, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2016; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2017
January 27, 2017 at 02:35 am IST
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Super Micro Computer, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2016. For the quarter, the company reported net sales of $651,954,000 compared to $638,964,000 a year ago. Income from operations was $31,763,000 compared to $49,126,000 a year ago. Income before income tax provision was $31,311,000 compared to $48,750,000 a year ago. Net income was $21,996,000 or $0.43 per diluted share compared to $34,689,000 or $0.67 per diluted share a year ago. Non-GAAP income from operations was $36,472,000 compared to $53,132,000 a year ago. Non-GAAP net income was $25,032,000 or $0.48 per diluted share compared to $37,991,000 or $0.73 per diluted share a year ago.
For the six months period, the company reported net sales of $1,180,922,000 compared to $1,158,582,000 a year ago. Income from operations was $51,965,000 compared to $70,566,000 a year ago. Income before income tax provision was $51,212,000 compared to $69,953,000 a year ago. Net income was $35,528,000 or $0.69 per diluted share compared to $48,388,000 or $0.94 per diluted share a year ago. Net cash used in operating activities was $54,870,000 compared to net cash provided by operating activities of $86,922,000 a year ago. Purchases of property, plant and equipment were $17,372,000 compared to $15,235,000 a year ago. Non-GAAP income from operations was $61,178,000 compared to $78,448,000 a year ago. Non-GAAP net income was $41,706,000 or $0.80 per diluted share compared to $54,483,000 or $1.14 per diluted share a year ago.
The company expects net sales of $570 million to $630 million for the third quarter of fiscal year 2017 ending March 31, 2017. The company expects non-GAAP earnings per diluted share of approximately $0.34 to $0.42 for the third quarter. The company expects effective tax rate to be about 25% in the third quarter of fiscal 2017 through the release of liability for completion of an audit -- tax audit and as it continues to improve execution of new corporate structure as it grow business being served offshore.
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 Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2016; Provides Earnings Guidance for the Fiscal Year Ending March 31, 2017