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Supermicro Announces Second Quarter Fiscal Year 2021 Financial Results, New Stock Repurchase Authorization, and Chief Financial Officer Transition
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 second quarter of fiscal year 2021 ended December 31, 2020.\n\nSecond Quarter Fiscal Year 2021 Highlights\n\n\nNet sales of $830 million versus $762 million in the first quarter of fiscal year 2021 and $871 million in the same quarter of last year.\n\n\n\nGross margin of 16.4% versus 17.0% in the first quarter of fiscal year 2021 and 15.9% in the same quarter of last year.\n\n\n\nNet income of $28 million versus $27 million in the first quarter of fiscal year 2021 and $24 million in the same quarter of last year.\n\n\n\nDiluted net income per common share of $0.52 versus $0.49 in the first quarter of fiscal year 2021 and $0.46 in the same quarter of last year.\n\n\n\nNon-GAAP diluted net income per common share of $0.63 versus $0.55 in the first quarter of fiscal year 2021 and $0.57 in the same quarter of last year.\n\n\n\nCash flow from operations of $63 million and capital expenditures of $14 million.\n\n\nNon-GAAP gross margin for the second quarter of fiscal year 2021 was 16.4%, which adds back stock-based compensation expenses of $0.4 million. Non-GAAP diluted net income per common share for the second quarter of fiscal year 2021 was $0.63, which adds back stock-based compensation expenses of $6.5 million and special performance bonuses of $2.5 million, net of the related tax effects.\n\nAs of December 31, 2020, total cash, cash equivalents and restricted cash was $317 million and total bank debt was $45 million. Supermicro completed its previously announced $50 million share repurchase program on January 6, 2021.\n\n“We were pleased to deliver Q2 revenue at the midpoint of our guidance range driven by strong sequential growth in sales to our international customers in a variety of countries, which demonstrates the breadth and strength of our channel partnerships around the world,\" said Charles Liang, Chairman and CEO. \"Recently strong bookings also give us confidence in our outlook to resume year-over-year growth in Q3. We are excited about our robust pipeline of innovative products and aim to continue to grow through the remainder of fiscal 2021 and drive further growth in fiscal 2022.\"\n\nThird ...