Business
SGH Reports Fourth Quarter and Full Year Fiscal 2021 Financial Results
Record Quarterly and Annual Revenue with Strong Performance Across all Businesses MILPITAS, Calif.--(BUSINESS WIRE)-- SMART Global Holdings, Inc. (“SGH” or
About this update from Penguin Solutions, Inc.
[{"type":"text","content":"\nRecord Quarterly and Annual Revenue with Strong Performance Across all Businesses\n\n MILPITAS, Calif.--(BUSINESS WIRE)--\nSMART Global Holdings, Inc. (“SGH” or the “Company”) (Nasdaq: SGH) today reported financial results for the fourth quarter and full year fiscal 2021.\n\nFourth Quarter Fiscal 2021 Financial Highlights\n\n\nNet sales of $467.7 million, up 57% from the year ago quarter\n\n\nGAAP gross margin of 25.2%, up 620 basis points versus the year ago quarter\n\n\nNon-GAAP gross margin of 26.4%, up 690 basis points versus the year ago quarter\n\n\nGAAP EPS of $0.78, up 160% versus the year ago quarter\n\n\nNon-GAAP EPS of $2.16, up 163% versus the year ago quarter\n\n\nFiscal 2021 Highlights\n\n\nNet sales of $1.5 billion, up 34% versus the prior year\n\n\nGAAP gross margin of 20.5%, up 120 basis points versus the prior year\n\n\nNon-GAAP gross margin of 22.2%, up 240 basis points versus the prior year\n\n\nGAAP EPS of $0.83 compared with ($0.05) in the prior year\n\n\nNon-GAAP EPS of $5.22, up 102% versus the prior year\n\n\n“Fiscal 2021 has been a transformative year for SGH. We are proud of the team’s many accomplishments across each of our lines of business, Intelligent Platform Solutions, Memory Solutions, and LED solutions,” commented SGH CEO Mark Adams. “As we enter fiscal 2022, we believe we have the right platform to continue to execute our growth and diversification strategy while increasing value for our stakeholders.”\n\nFourth Quarter Fiscal 2021 and Historical Financial Data\n\n\nQuarterly Financial Results\nGAAP (1)\n\nNon-GAAP (2)\n\n\n(In millions, except per share amounts)\nQ4 FY21\nQ3 FY21\nQ4 FY20\n\nQ4 FY21\nQ3 FY21\nQ4 FY20\n\n\nNet sales\n\n$ 467.7\n\n\n\n$ 437.7\n\n\n\n \n\n\n\n$ 297.0\n\n\n\n\n$ 467.7\n\n\n\n$ 437.7\n\n\n\n$ 297.0\n\n\n\n\nGross profit\n\n$ 117.8\n\n\n\n$ 84.5\n\n\n\n \n\n\n\n$ 56.3\n\n\n\n\n$ 123.6\n\n\n\n$ 95.7\n\n\n\n$ 57.8\n\n\n\n\nOperating income\n\n$ 31.7\n\n\n\n$ 2.9\n\n\n\n \n\n\n\n$ 17.2\n\n\n\n\n$ 66.6\n\n\n\n$ 43.3\n\n\n\n$ 28.4\n\n\n\n\nNet income (loss) (3)\n\n$ 20.7\n\n\n\n$ (7.2\n\n\n\n)\n\n\n\n$ 7.5\n\n\n\n\n$ 55.1\n\n\n\n$ 35.5\n\n\n\n$ 20.4\n\n\n\n\nDiluted earnings (loss) per share (EPS)\n\n$ 0.78\n\n\n\n$ (0.30\n\n\n\n)\n\n\n\n$ 0.30\n\n\n\n\n$ 2.16\n\n\n\n$ 1.39\n\n\n\n$ 0.82\n\n\n\n\n\nAnnual Financial Results\nGAAP (1)\n\nNon-GAAP (2)\n\n\n(In millions, ...