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Super Micro Computer, Inc. Announces 4th Quarter 2012 Financial Results

Stocks in this article: SMCI

Super Micro Computer, Inc. (NASDAQ:SMCI), a leader in application optimized, high performance server solutions, today announced fourth quarter and full-year financial results for the fiscal year ended June 30, 2012.

Fiscal 4th Quarter Highlights

  • Quarterly net sales of $275.9 million, up 14.9% from the third quarter of fiscal year 2012 and up 6.0% from the same quarter of last year.
  • Net income of $5.5 million, down 22.1% from the third quarter of fiscal year 2012 and down 48.7% from the same quarter of last year.
  • Gross margin of 15.4%, down from 17.0% in the third quarter of fiscal year 2012 and consistent with the same quarter of last year.
  • Server Solutions accounted for 44.6% of net sales compared with 48.5% in the third quarter of fiscal year 2012 and 40.4% in the same quarter of last year.

Net sales for the fourth quarter ended June 30, 2012 totaled $275.9 million, up 14.9% from $240.2 million in the third quarter of fiscal year 2012. No customer accounted for more than 10% of net sales during the quarter ended June 30, 2012.

Net income for the fourth quarter of fiscal year 2012 was $5.5 million or $0.12 per diluted share, a decrease of 48.7% from the net income of $10.7 million, or $0.24 per diluted share in the same period a year ago. Included in net income for the quarter is $2.8 million of stock-based compensation expense (pre-tax). Excluding this item and the related tax effect, non-GAAP net income for the fourth quarter was $8.1 million, or $0.18 per diluted share, compared to non-GAAP net income of $13.0 million, or $0.29 per diluted share, in the same quarter of the prior year. On a sequential basis, non-GAAP net income decreased from the third quarter of fiscal year 2012 by $0.7 million or $0.01 per diluted share.

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