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And now, I would like to turn the conference over to Mr. Hayes. Mr. Hayes, please go ahead, sir.Perry Hayes Good afternoon, and thank you for attending Super Micro’s conference call and financial results for the third quarter fiscal year 2012, which ended March 31, 2012. Before we begin, I’d like to advise you of upcoming investor conferences at which Super Micro will be participating. On May 24th, we will attend the SternAG Technology Conference in New York, where we will present and participate in one-on-one meetings. By now, you should have received a copy of today’s news release that was distributed at the close of regular trading and is available on the company’s website. As a reminder, during today’s call, the company will refer to a presentation that is available to participants in the Investor Relations section of the company’s website under the Events and Presentation tab. Please turn to slide two. Before we start, I’ll remind you that our remarks include forward-looking statements. There are a number of risk factors that could cause Super Micro’s future results to differ materially from our expectations. You can learn more about these risks in the press release we issued earlier this afternoon, our form 10-K for Fiscal 2011, and our other SEC filings. All those documents are available from the investor relations page of Super Micro’s website at www.supermicro.com. We assume no obligation to update any forward looking statements. Most of today’s presentation will refer to non-GAAP financial results and outlooks. For an explanation of our non-GAAP financial measures, please refer to Slide 3 of this presentation or to our press release published earlier today. In addition, a reconciliation of GAAP to non-GAAP results is contained in today’s press release and in the supplemental information attached with today’s presentation. I’ll now turn the call over to Charles Liang, Chairman and Chief Executive Officer.
Charles LiangThank you, Perry, and good afternoon everyone. Let me start by sharing the fact that we grew the Q3 revenue year over year by only 2.5% mainly because of our finance drop that cause quarter wide hard drive shortage which affected us badly while into the quarter. In addition, not long ago, we showed the New Sandy Bridge Xeon platform from coming just before the end of the quarter was there to achieve meaningful revenue lift in the last quarter. Some customers anticipate the technology transition and decide to postpone acquisition until the new product launch. With these issue result is behind us now, we are in a very good position for strong growth for next several quarters. Please come to slide four. Now let me provide you with the financial highlights of our third quarter. The third quarter revenue was $240.2 million, about 3.9% lower than last quarter and 2.5% higher year-over-year. Non-GAAP net income was $8.8 million or 21.1% around quarter-over-quarter and 28.1% compared to last year. Super Micro’s non-GAAP earnings per share was $0.19 per diluted share compared to $0.25 last quarter or $0.28 last year. From a geographic perspective, this quarter in United States account for 56.5% of revenue. Europe was 23% and Asia was 18.1%. Sequentially all our region were essentially flat from the prior quarter. On a year-over-year base, the US was 2.9% higher while Asia was slowed by 1.8%, Europe was basically flat with the year ago. Last of the OEM and direct accounts – and direct customer account for over 47.4% of revenue, and Internet data center was 15.7% of total revenue. Of that result all that strong OEM and direct business. System sales continue to be a strong and reached record high 48.5% over sales. We had many successful deals and our completed racks system solution which enabled customer to immediately provide their order at the reception.
Customers are very satisfied with the plug and play experience and service at a record level offered by Super Micro. Therefore I expect this strong momentum of competency in business to continue. The coming June quarter performance is looking very positive simply because, first, we have no hard drives shortage problem now. Second, the Sandy Bridge Process both are in high volume production with strong customer demand.Read the rest of this transcript for free on seekingalpha.com