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Super Micro Computer, Inc. Announces 4th Quarter 2013 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, 2013.

Fiscal 4th Quarter Highlights

  • Quarterly net sales of $322.3 million, up 15.9% from the third quarter of fiscal year 2013 and up 16.8% from the same quarter of last year.
  • GAAP net income of $8.4 million, up 19.7% from the third quarter of fiscal year 2013 and up 52.9% from the same quarter of last year.
  • GAAP gross margin of 14.3%, up from 14.0% in the third quarter of fiscal year 2013 and down from 15.4% in the same quarter of last year.
  • Server solutions accounted for 47.4% of net sales compared with 41.8% in the third quarter of fiscal year 2013 and 44.6% in the same quarter of last year.

Net sales for the fourth quarter ended June 30, 2013 totaled $322.3 million, up 15.9% from $278.0 million in the third quarter of fiscal year 2013. No customer accounted for more than 10% of net sales during the quarter ended June 30, 2013.

GAAP net income for the fourth quarter of fiscal year 2013 was $8.4 million or $0.19 per diluted share, an increase of 52.9% from the net income of $5.5 million, or $0.12 per diluted share in the same period a year ago. Included in net income for the quarter is $2.7 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 $11.3 million, or $0.26 per diluted share, compared to non-GAAP net income of $8.1 million, or $0.18 per diluted share, in the same quarter of the prior year. On a sequential basis, non-GAAP net income increased from the third quarter of fiscal year 2013 by $1.3 million or $0.03 per diluted share.

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