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Supermicro Announces Third Quarter Fiscal Year 2020 Financial Results
SAN JOSE, Calif.--(BUSINESS WIRE)-- Super Micro Computer, Inc. (Nasdaq: SMCI), a global leader in high-performance, high-efficiency server, 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, storage technology and green computing, today announced financial results for its third quarter of fiscal year 2020 ended March 31, 2020.\n\n\nThird Quarter Fiscal Year 2020 Highlights\n\n\n\nNet sales of $772 million versus $871 million in the second quarter of fiscal year 2020 and $744 million in the same quarter of last year.\n\n\n\n\nGross margin of 17.3% versus 15.9% in the second quarter of fiscal year 2020 and 15.1% in the same quarter of last year.\n\n\n\n\nNet income of $16 million versus $24 million in the second quarter of fiscal year 2020 and $11 million in the same quarter of last year.\n\n\n\n\nDiluted net income per common share of $0.29 versus $0.46 in the second quarter of fiscal year 2020 and $0.21 in the same quarter of last year.\n\n\n\n\nNon-GAAP diluted net income per common share of $0.84 versus $0.57 in the second quarter of fiscal year 2020 and $0.49 in the same quarter of last year.\n\n\n\n\nCash flow used in operations of $21 million and capital expenditures of $11 million.\n\n\n\nIncome from operations in the third quarter of fiscal year 2020 benefited by a $10.1 million settlement fee related to a joint product development agreement. After the related tax effect, GAAP and non-GAAP net income per common share on a diluted basis benefited by $0.14.\n\n\nNon-GAAP gross margin for the third quarter of fiscal year 2020 was 17.7%, which adds back stock-based compensation expenses of $0.4 million and one-time employee performance bonuses of $2.9 million. Non-GAAP diluted net income per common share for the third quarter of fiscal year 2020 was $0.84, which adds back stock-based compensation expenses of $4.8 million, one-time employee performance bonuses of $10.3 million, legal settlement costs of $17.5 million, and other non-recurring expenses of $1.4 million less the related tax effects.\n\n\nAs of March 31, 2020, total cash, cash equivalents and restricted cash was $319 million and bank debt was $33 million.\n\n\n“We were pleased to deliver Q3 revenue that grew 4% year-over-year despite the disruptions to our operations from the impact of COVID-19,\" said Charles Liang, Chairman and CEO. \"Our highest priority remains the health and security of our employees, custom...