Slide 1: 1st Quarter Fiscal 2011 Earnings Conference Presentation
Supermicro © 2009 GPU Solutions Universal I/O Double-Sided Datacenter Optimized Twin Architecture SuperBlade ® Storage 1st Quarter Fiscal 2011 Earnings Conference Presentation October 26, 2010 Exhibit 99.2
Slide 2: Safe Harbor Statement
2 Safe Harbor Statement This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may relate, among other things, to our expec
Slide 3: Non-GAAP Financial Measures
3 Non-GAAP Financial Measures Non-GAAP gross margin in this presentation excludes stock-based compensation expense. Non- GAAP net income and net income per share in this presentation exclude stock-based compensation expense, a provision for litigation costs and the related tax effect of the applicab
Slide 4: Q1'FY2011 Non-GAAP Financial Highlights
4 Q1’FY2011 Non-GAAP Financial Highlights (in millions, except per share data) Q1'11 YoY Sequential Revenue $207.2 39.5% 2.7% Profit after Tax $9.3 58.9% 2.1% EPS $0.22 46.7% 4.8% Change
Slide 5: Summary of Results
5 Summary of Results Another record for revenue with $207 million and 40% higher than last year In the seasonally weaker summer quarter we were pleased to see a strong September, indicating a good upcoming quarter We grew in our overseas markets and particularly in the Asia region Our systems revenu
Slide 6: © ios
© ios
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Slide 9: Leading Products
Leading Products 6 Twin Architecture New - 2U Twin³ (8 nodes in 2U) 1U Twin, 2U Twin², 2U Twin (6x 3.5” HDD or 12x 2.5” HDD) SuperBlade™ - TwinBlade™ and GPU Blade DP nodes in 7U, support 40Gb/s Infiniband or 10G Ethernet connectivity GPU in blade, leverage Twin architecture GPU optimized product li
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Slide 13: Leading Products
Leading Products 7 New Generation 8-way/4-way Systems Addressing (8-way) high-end high-margin solution Boxboro-EX MP (Nehalem-EX) and G34 MP system in 1U/4U Addressing HPC application needs as well as enterprise market Storage product line expansion Super SBB product line Higher density storage subs
Slide 14: Revenue Comparables
8 Revenue Comparables $149 $182 $189 $202 $207 $0 $40 $80 $120 $160 $200 $240 #039;s millions Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Supermicro Revenue Trend Y/Y 3.1% 41.5% 72.8% 63.4% 39.5% Seq. 20.3% 22.5% 4.0% 6.5% 2.7%
Slide 15: Revenue Analysis
9 Revenue Analysis $- $40 $80 $120 $160 $200 $240 Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 $97 $117 $126 $137 $133 $51 $65 $63 $65 $74 #039;s millions Supermicro Subsystems/System Revenue Subsystems Systems
Slide 16: Non-GAAP Gross Margins
10 Non-GAAP Gross Margins 16.6% 16.7% 15.5% 15.4% 16.0% Q1'10 Q2'10 Q3'10 Q4'10 Q1'11
Slide 17: Non-GAAP Gross Profit
11 Non-GAAP Gross Profit $24.7 $30.5 $29.4 $31.1 $33.2 $- Q1'10 Q2'10 Q3'10 Q4'10 Q1'11 Gross Profit #039;s millions
Slide 18: Summary P&L non-GAAP
12 Summary P&L non-GAAP (in millions, except per share data) Q1'11 YoY Sequential Q1'10 Q4'10 Operating Expense $18.7 $3.1 $0.7 $15.6 $18.0 Operating Expense Ratio 9.0% -1.5% 0.1% 10.5% 8.9% Operating Income $14.6 $5.5 $1.5 $9.1 $13.1 Net Income $9.3 $3.4 $0.2 $5.8 $9.1 EPS $0.22 $0.07 $0.01 $0.15 $
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Slide 20: Q1 FY2011 YTD Summary Statement of Cash Flows
13 Q1 FY2011 YTD Summary Statement of Cash Flows ($’s millions) 3 Months Ended 3 Months Ended 30-Sep-10 30-Sep-09 Net Income $7.2 $3.9 Depreciation and amortization $1.3 $1.1 Stock comp expense (FAS 123R) $1.8 $1.5 Other reserves $3.4 $1.0 Net change in AR, Inventory, AP $1.5 -$2.8 Other prepaids an
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Slide 22: Supplemental Financials
15 Supplemental Financials First Quarter Fiscal 2011 Ended September 30, 2010
Slide 23: Non-GAAP Financial Summary
16 Non-GAAP Financial Summary (in millions, except per share data) Q1'11 Q4'10 Q1'10 Net Sales 207.2 $ 201.7 $ 148.5 $ Non-GAAP Gross Margin 16.0% 15.4% 16.6% Non-GAAP Operating Expenses 18.7 $ 18.0 $ 15.6 $ Non-GAAP Operating Income 14.6 $ 13.1 $ 9.1 $ Non-GAAP Net Income 9.3 $ 9.1 $ 5.8 $ Non-GAAP
Slide 24: Prior Period Net Income Comparisons
17 Prior Period Net Income Comparisons (in millions, except per share data) Net Income (GAAP) Net Income (Non-GAAP) Diluted Net Income per common share (GAAP) Diluted Net Income per share (Non-GAAP) Shares used in diluted EPS calculation Q1'11 Q4'10 Q1'10 7.2 $ 7.7 $ 3.9 $ 2.1 $ 1.4 $ 1.9 $ 9.3 $ 9.
Slide 25: Q1 FY 2011 GAAP to Non-GAAP Reconciliation
18 Q1 FY 2011 GAAP to Non-GAAP Reconciliation (in millions, except per share data) FAS123R & Q1'11 Q1'11 GAAP Other Unusual Non-GAAP Results Expenses Results Net Sales 207.2 $ - $ 207.2 $ Cost of Sales 174.1 $ 0.2 $ 173.9 $ Gross Profit 33.0 $ 0.2 $ 33.2 $ Operating Expense 21.0 $ 2.4 $ 18.7 $ Opera
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Slide 27: Q4 FY 2010 GAAP to Non-GAAP Reconciliation
19 Q4 FY 2010 GAAP to Non-GAAP Reconciliation (in millions, except per share data) FAS123R & Q4'10 Q4'10 GAAP Other Unusual Non-GAAP Results Expenses Results Net Sales 201.7 $ - $ 201.7 $ Cost of Sales 170.8 $ 0.2 $ 170.6 $ Gross Profit 30.9 $ 0.2 $ 31.1 $ Operating Expense 19.5 $ 1.5 $ 18.0 $ Opera
Slide 28: Q3 FY 2010 GAAP to Non-GAAP Reconciliation
20 Q3 FY 2010 GAAP to Non-GAAP Reconciliation (in millions, except per share data) FAS123R & Q3'10 Q3'10 GAAP Other Unusual Non-GAAP Results Expenses Results Net Sales 189.3 $ - $ 189.3 $ Cost of Sales 160.0 $ 0.1 $ 159.9 $ Gross Profit 29.3 $ 0.1 $ 29.4 $ Operating Expense 18.7 $ 1.4 $ 17.3 $ Opera
Slide 29: Q2 FY 2010 GAAP to Non-GAAP Reconciliation
21 Q2 FY 2010 GAAP to Non-GAAP Reconciliation (in millions, except per share data) FAS123R & Q2'10 Q2'10 GAAP Other Unusual Non-GAAP Results Expenses Results Net Sales 182.0 $ - $ 182.0 $ Cost of Sales 151.7 $ 0.2 $ 151.5 $ Gross Profit 30.3 $ 0.2 $ 30.5 $ Operating Expense 17.9 $ 1.5 $ 16.4 $ Opera
Slide 30: Q1 FY 2010 GAAP to Non-GAAP Reconciliation
22 Q1 FY 2010 GAAP to Non-GAAP Reconciliation (in millions, except per share data) FAS123R & Q1'10 Q1'10 GAAP Other Unusual Non-GAAP Results Expenses Results Net Sales 148.5 $ - $ 148.5 $ Cost of Sales 124.0 $ 0.1 $ 123.9 $ Gross Profit 24.5 $ 0.1 $ 24.7 $ Operating Expense 18.0 $ 2.5 $ 15.6 $ Opera