Super Micro Computer, Inc. Announces 2nd Quarter 2012 Financial Results

Super Micro Computer, Inc. (NASDAQ:SMCI), a leader in application optimized, high performance server solutions, today announced second quarter fiscal 2012 financial results for the quarter ended December 31, 2011. The final results are in line with the preliminary results announced by the Company on January 10, 2012.

Fiscal 2nd Quarter Highlights

• Quarterly net sales of $249.9 million, up 0.8% from the first quarter of fiscal year 2012 and up 3.8% from the same quarter of last year.
• Net income of $8.8 million, up 3.3% from the first quarter of fiscal year 2012 and down 24.2% from the same quarter of last year.
• Gross margin of 17.1%, up from 16.0% in the first quarter of fiscal year 2012 and up 0.4% from the same quarter of last year.
• Server Solutions accounted for 44.0% of net sales compared with 39.4% in the first quarter of fiscal year 2012 and 40.5% in the same quarter of last year.

Net sales for the second quarter ended December 31, 2011 totaled $249.9 million, up 0.8% from $247.9 million in the first quarter of fiscal year 2012. No customer accounted for more than 10% of net sales during the quarter ended December 31, 2011.

Net income for the second quarter of fiscal year 2012 was $8.8 million or $0.20 per diluted share, a decrease of 24.2% from the net income of $11.6 million, or $0.27 per diluted share in the same period a year ago. Included in net income for the quarter is $2.5 million of stock-based compensation expense (pre-tax). Excluding this item and the related tax effect, non-GAAP net income for the second quarter was $11.2 million, or $0.25 per diluted share, compared to non-GAAP net income of $13.3 million, or $0.31 per diluted share, in the same quarter of the prior year. On a sequential basis, non-GAAP net income increased from the first quarter of fiscal year 2012 by $0.7 million or $0.01 per diluted share.

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