Super Micro Computer, Inc. (NASDAQ:SMCI), a leader in application optimized, high performance server solutions, today announced first quarter fiscal 2013 financial results for the quarter ended September 30, 2012. The results were in line with the preliminary results announced by the Company on October 9, 2012.
Fiscal 1st Quarter Highlights
- Quarterly net sales of $270.7 million, down 1.9% from the fourth quarter of fiscal year 2012 and up 9.2% from the same quarter of last year.
- Net income of $0.9 million, down 83.7% from the fourth quarter of fiscal year 2012 and down 89.4% from the same quarter of last year.
- Gross margin of 12.9%, down from 15.4% in the fourth quarter of fiscal year 2012 and down from 16.0% in the same quarter of last year.
- Server solutions accounted for 39.5% of net sales compared with 44.6% in the fourth quarter of fiscal year 2012 and 39.4% in the same quarter of last year.
Net sales for the first quarter ended September 30, 2012 totaled $270.7 million, down 1.9% from $275.9 million in the fourth quarter of fiscal year 2012. No customer accounted for more than 10% of net sales during the quarter ended September 30, 2012.
Net income for the first quarter of fiscal year 2013 was $0.9 million or $0.02 per diluted share, a decrease of 89.4% from the net income of $8.5 million, or $0.19 per diluted share in the same period a year ago. Included in net income for the quarter is $2.9 million of stock-based compensation expense (pre-tax). Excluding this item and the related tax effect, non-GAAP net income for the first quarter was $3.1 million, or $0.07 per diluted share, compared to non-GAAP net income of $10.5 million, or $0.24 per diluted share, in the same quarter of the prior year. On a sequential basis, non-GAAP net income decreased from the fourth quarter of fiscal year 2012 by $5.1 million or $0.11 per diluted share.
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