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Supermicro Announces Fourth Quarter and Full Year Fiscal Year 2020 Financial Results and Stock Repurchase Authorization
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 fourth quarter and full-year financial results for fiscal year 2020 ended June 30, 2020.\n\n\nFourth Quarter of Fiscal Year 2020 Highlights\n\n\n\nNet sales of $896 million versus $772 million in the third quarter of fiscal year 2020 and $854 million in the same quarter of last year.\n\n\n\n\nGross margin of 13.8% versus 17.3% in the third quarter of fiscal year 2020 and 15.5% in the same quarter of last year.\n\n\n\n\nNet income of $18 million versus $16 million in the third quarter of fiscal year 2020 and $24 million in the same quarter of last year.\n\n\n\n\nDiluted net income per common share of $0.34 versus $0.29 in the third quarter of fiscal year 2020 and $0.46 in the same quarter of last year.\n\n\n\n\nNon-GAAP diluted net income per common share of $0.68 versus $0.84 in the third quarter of fiscal year 2020 and $0.69 in the same quarter of last year.\n\n\n\n\nCash flow used in operations of $96 million and capital expenditures of $9 million.\n\n\n\nNon-GAAP gross margin for the fourth quarter of fiscal year 2020 was 14.0%, which adds back stock-based compensation expense of $0.4 million, one-time employee performance bonuses of $1.2 million, and certain other expenses. Non-GAAP diluted net income per common share for the fourth quarter of fiscal year 2020 was $0.68, which adds back stock-based compensation expense of $5.4 million, one-time employee performance bonuses of $17.4 million, controls remediation costs of $1.0 million and other expenses of $0.7 million, less tax effects of $5.1 million.\n\n\nAs of June 30, 2020, total cash, cash equivalents and restricted cash was $212 million and bank debt was $29 million.\n\n\nFiscal Year 2020 Summary\n\n\nNet sales for the fiscal year ended June 30, 2020, were $3.34 billion versus $3.50 billion for the fiscal year ended June 30, 2019. Net income for fiscal year 2020 was $84 million, or $1.60 per diluted share, versus $72 million, or $1.39 per diluted share, for fiscal year 2019. Non-GAAP net income for the fiscal year 2020 was $150 million, or $2.77 per diluted share, versus $134 million, or $2.51 per diluted share, for fiscal year 2019. Non-GAAP net income for the fiscal year...