Super Micro Computer, Inc. · NASDAQ:SMCI
Super Micro Computer — Q1 FY2009 Earnings Presentation
22 slides from Super Micro Computer's earnings presentation, Oct 29, 2008
Slide 1: Earnings Conference Presentation October 29, 2008
Supermicro © 2008 Earnings Conference Presentation October 29, 2008 Exhibit 99.2
Slide 2: Safe Harbor Statement
2 Supermicro © 2008 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 th
Slide 3: Non-GAAP Financial Measures
3 Supermicro © 2008 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 and the related tax effect of the applicable items. Managem
Slide 4: Q1'FY2009 Non-GAAP Financial Highlights
4 Supermicro © 2008 Q1’FY2009 Non-GAAP Financial Highlights (in millions, except per share data) Free Cash Flow Sequential Change YoY Change Q1'09 $ 0.3 $ 1.8 Profit after Tax $ 0.00 $ 0.04 EPS 39.6 Diluted Share Count $ (4.8) $ 26.1 Revenue
Slide 5: Economic Conditions and Opportunities
5 Supermicro © 2008 Economic Conditions and Opportunities As we completed our first quarter on September 30, the global financial crisis was creating uncertainty in the economy and in market for IT hardware solutions. Customers need application optimized, lower total cost of ownership Supermicro’s o
Slide 6: Supermicro Differentiators
6 Supermicro © 2008 Supermicro Differentiators In-house, collaborative R&D teams develop industry standard components, providing the building blocks to create modularized solutions. Broadest array of server building blocks based on industry standard requirements, SSI. Modular architectural approach
Slide 7: Upcoming Products
7 Supermicro © 2008 Upcoming Products New generation multi-core Xeon platform, QPI technology 50+ Motherboard models 30+ System models 30+ Optimized chassis Shanghai platform from AMD Boxboro-based Itanium solution from Intel QDR InfiniBand technology 10GbE connectivity products Switches and Pass-th
Slide 8: Revenue Comparables
8 Supermicro © 2008 Revenue Comparables -3.4% 8.8% 0.0% 16.1% 6.3% Seq. 22.0% 34.2% 29.2% 20.2% 31.1% Y/Y $118 $137 $137 $149 $144 $0 $40 $80 $120 $160 $'s millions Q1'08 Q2'08 Q3'08 Q4'08 Q1'09 Supermicro Revenue Trend
Slide 9: Revenue Analysis
9 Supermicro © 2008 Revenue Analysis $72 $46 $79 $58 $89 $48 $91 $58 $88 $56 $40 $80 $120 $160 $'s millions Q1'08 Q2'08 Q3'08 Q4'08 Q1'09 Supermicro Component/System Revenue Total Components Systems
Slide 10: Non-GAAP Gross Margins
10 Supermicro © 2008 Non-GAAP Gross Margins 19.6% 20.0% 18.2% 19.2% 19.4% 0.0% 5.0% 10.0% 15.0% 20.0% Q1'08 Q2'08 Q3'08 Q4'08 Q1'09
Slide 11: Non-GAAP Gross Profit
11 Supermicro © 2008 Non-GAAP Gross Profit Q1'08 Q2'08 Q3'08 Q4'08 Q1'09 Gross Profit $'s millions 19.4% 19.2% 18.2% 20.0% 19.6%
Slide 12: Summary P&L non-GAAP
12 Supermicro © 2008 Summary P&L non-GAAP (in millions, except per share data) 39.1 38.9 39.6 Diluted Share Count 32.1% 36.6% 36.1% Effective Quarterly Tax Rate - EPS Net Income Operating Income 11.2% 11.1% -0.8% -0.7% 10.4% Operating Expense Ratio -$1.8 Operating Expense Q4'08 Q1'08 Sequential Chan
Slide 13: Q1'09 Summary Statement of Cash Flows
13 Supermicro © 2008 Q1’09 Summary Statement of Cash Flows ($’s millions) $(0.5) Net change in cash Net cash - financing activities $(4.0) Net cash - investing activities Free cash flow $(0.6) $ (1.4) Capital expenditures Cash flow from operations Other assets, accruals and liabilities $(10.2) $(7.9
Slide 14: Q1'09 Summary of Balance Sheet Metrics
14 Supermicro © 2008 Q1’09 Summary of Balance Sheet Metrics ($’s millions) -4 Cash Cycle Days DPO -6 DIO -3 DSO Accounts Payable Inventory $(3.3) Accounts Receivable Cash Equivalents & Investments Change Q4'08 Q1'09
Slide 15: First Quarter Fiscal 2009
15 Supermicro © 2008 First Quarter Fiscal 2009 Ended September 30,2008
Slide 16: Non-GAAP Financial Summary
16 Supermicro © 2008 Non-GAAP Financial Summary (in millions, except per share data) 38.9 39.1 39.6 Fully diluted shares for calculation Non-GAAP Net Income per share Non-GAAP Net Income Non-GAAP Operating Income Non-GAAP Operating Expenses 19.6% 19.2% 19.4% Non-GAAP Gross Margin Net Sales Q1'08 Q4'
Slide 17: Prior Period Net Income Comparisons
17 Supermicro © 2008 Prior Period Net Income Comparisons (in millions, except per share data) 38.9 39.1 39.6 Shares used in diluted EPS calculation (Non-GAAP) Diluted Net Income per share (Non-GAAP) FAS123R Diluted Net Income per share (GAAP) Net Income (Non-GAAP) FAS123R Expense (tax affected) Net
Slide 18: Q1 FY09 GAAP to Non-GAAP Reconciliation
18 Supermicro © 2008 Q1 FY09 GAAP to Non-GAAP Reconciliation (in millions, except per share data) 39.6 39.6 39.3 Shares used in GAAP and Non- GAAP per share calculation Diluted Net Income per share Net Income Income Tax Income before Tax $(0.0) $ - $(0.0) Interest, net $ - $ - $ - Other Income (Expe
Slide 19: Q4 FY08 GAAP to Non-GAAP Reconciliation
19 Supermicro © 2008 Q4 FY08 GAAP to Non-GAAP Reconciliation (in millions, except per share data) 39.1 39.1 39.0 Shares used in GAAP and Non-GAAP per share calculation Diluted Net Income per share Net Income Income Tax Income before Tax $(0.0) $ - $(0.0) Interest, net $ - $ - $ - Other Income (Expen
Slide 20: Q3 FY08 GAAP to Non-GAAP Reconciliation
20 Supermicro © 2008 Q3 FY08 GAAP to Non-GAAP Reconciliation (in millions, except per share) 39.1 39.1 39.0 Shares used in GAAP and Non-GAAP per share calculation Diluted Net Income per share Net Income $ - Income Tax Income before Tax $ - Interest, net $ - $ - $ - Other Income (Expense), net Operat
Slide 21: Q2 FY08 GAAP to Non-GAAP Reconciliation
21 Supermicro © 2008 Q2 FY08 GAAP to Non-GAAP Reconciliation (in millions, except per share data) 38.9 38.9 38.7 Shares used in GAAP and Non-GAAP per share calculation Diluted Net Income per share Net Income $ - Income Tax Income before Tax $ - Interest, net $ - $ - $ - Other Income (Expense), net O
Slide 22: Q1 FY08 GAAP to Non-GAAP Reconciliation
22 Supermicro © 2008 Q1 FY08 GAAP to Non-GAAP Reconciliation (in millions, except per share data) 38.9 38.9 38.6 Shares used in GAAP and Non-GAAP per share calculation Diluted Net Income per share Net Income Income Tax Income before Tax $ - Interest, net $ - $ - $ - Other Income (Expense), net Opera
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