Business
Supermicro Announces First Quarter Fiscal Year 2022 Financial Results
SAN JOSE, Calif.--(BUSINESS WIRE)-- Super Micro Computer, Inc. (Nasdaq: SMCI), a global leader in high-performance, high-efficiency server and storage
About this update from Super Micro Computer, Inc.
[{"type":"text","content":" SAN JOSE, Calif.--(BUSINESS WIRE)--\nSuper Micro Computer, Inc. (Nasdaq: SMCI), a global leader in high-performance, high-efficiency server and storage technology and green computing, today announced financial results for its first quarter of fiscal year 2022 ended September 30, 2021.\n\nFirst Quarter Fiscal Year 2022 Highlights\n\n\nNet sales of $1.03 billion versus $1.07 billion in the fourth quarter of fiscal year 2021 and $762 million in the same quarter of last year.\n\n\n\nGross margin of 13.4% versus 13.6% in the fourth quarter of fiscal year 2021 and 17.0% in the same quarter of last year.\n\n\n\nNet income of $25 million versus $39 million in the fourth quarter of fiscal year 2021 and $27 million in the same quarter of last year.\n\n\n\nDiluted net income per common share of $0.48 versus $0.74 in the fourth quarter of fiscal year 2021 and $0.49 in the same quarter of last year.\n\n\n\nNon-GAAP diluted net income per common share of $0.58 versus $0.81 in the fourth quarter of fiscal year 2021 and $0.55 in the same quarter of last year.\n\n\n\nCash flow used in operations of $135 million and capital expenditures of $12 million.\n\n\nNon-GAAP gross margin for the first quarter of fiscal year 2022 was 13.4%, which adds back stock-based compensation expenses of $0.4 million and special performance bonuses and other expenses of $0.3 million. Non-GAAP diluted net income per common share for the first quarter of fiscal year 2022 was $0.58, which adds back stock-based compensation expenses of $7.0 million, special performance bonuses of $0.5 million and controls remediation and litigation expenses of $1.3 million, net of the related tax effects.\n\nAs of September 30, 2021, total cash and cash equivalents was $270 million and total bank debt was $279 million.\n\n“For Q1, we are pleased to announce that our quarterly revenue exceeded $1 billion again with revenue growth of 35% year over year, and significantly exceeded industry growth. We continue to gain market share and are executing well against our plan to achieve $10 billion in annual revenue,” said Charles Liang, Chairman and CEO. \"Supermicro is transforming from a server hardware company into a Total IT Solutions company. Our Q1 revenue growth was driven by strong design win momentum and shipment growth to our key global customers in the large enterprise, cloud, AI, and ...