Slide 1: Earnings Conference Presentation October 27, 2009
Earnings Conference Presentation October 27, 2009 Exhibit 99.2 Supermicro © 2009
Slide 2: Safe Harbor Statement
Supermicro © 2009 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 th
Slide 3: Non-GAAP Financial Measures
Supermicro © 2009 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 of litigation loss and the related tax effect
Slide 4: Q1'FY2010 Non-GAAP Financial Highlights
Supermicro © 2009 4 Q1’FY2010 Non-GAAP Financial Highlights (in millions, except per share data) YoY Sequential Revenue $148.5 3.1% 20.3% Profit after Tax $5.8 -30.0% 54.6% EPS $0.15 -28.6% 50.0% Change
Slide 5: Summary of Results
Supermicro © 2009 5 Summary of Results The Nehalem processor began to ramp and our first to market advantage helped us to record a strong start to this technology Our innovative 2U Twin architecture was in strong demand This quarter indicates a strong ramp to our GPU product line Late in this quarte
Slide 6: Leading Architecture – FY10
Supermicro © 2009 Leading Architecture – FY10 TwinBlade™ Highest computing density 40 processors / 240 cores in 7U 1U GPU Solution 2 TFLOPS of performance per 1U 4U GPU Solution 4 GPUs plus Graphics card in 4U 2U Twin² 4 Hot-pluggable DP nodes in 2U 1U Twin™ 2 DP nodes in 1U, 20+ SKUs 2U Twin 6x 3.5
Slide 7: Upcoming Products and Launches
Supermicro © 2009 7 Upcoming Products and Launches Twin Blade Based on our Twin architecture, doubles the density of our SuperBlade In a 7U space, able to provide 20/28 DP nodes support with 40Gb/s Infiniband or 10G Ethernet connectivity options Most suitable for HPC and Datacenter applications New
Slide 8: Revenue Comparables
Supermicro © 2009 8 Revenue Comparables $144 $129 $110 $123 $149 $0 $40 $80 $120 $160 #039;s millions Supermicro Revenue Trend Y/Y 22.1% -6.1% -19.9% -17.1% 3.1% Seq. -3.2% -10.8% -14.8% 12.7% 20.3%
Slide 9: Revenue Analysis
Supermicro © 2009 9 Revenue Analysis $88 $56 $76 $53 $67 $43 $78 $45 $97 $51 $- $40 $80 $120 $160 #039;s millions Supermicro Sub-system/System Revenue Sub-systems Systems
Slide 10: Non-GAAP Gross Margins
Supermicro © 2009 10 Non-GAAP Gross Margins 19.4% 18.9% 15.0% 16.7% 16.6%
Slide 11: Non-GAAP Gross Profit
Supermicro © 2009 11 Non-GAAP Gross Profit $28.0 $24.2 $16.5 $20.6 $24.7 $- Gross Profit #039;s millions
Slide 12: Summary P&L non-GAAP
Supermicro © 2009 12 Summary P&L non-GAAP (in millions, except per share data) YoY Sequential Operating Expense $15.6 $0.7 $0.4 $14.9 $15.2 Operating Expense Ratio 10.5% 0.1% -1.8% 10.4% 12.3% Operating Income $9.1 -$3.9 $3.7 $13.0 $5.4 Net Income $5.8 -$2.5 $2.0 $8.3 $3.8 EPS $0.15 -$0.06 $0.05 $0.
Slide 13: Q1 FY2010 YTD Summary Statement of Cash Flows
Supermicro © 2009 13 Q1 FY2010 YTD Summary Statement of Cash Flows ($’s millions) 3 Months Ended 3 Months Ended 30-Sep-09 30-Sep-08 Net Income $3.9 $7.2 Depreciation and amortization $1.1 $0.8 Stock comp expense (FAS 123R) $1.5 $1.2 Other reserves $1.0 $2.2 Net change in AR, Inventory, AP -$2.8 -$7.
Slide 14: Q1 FY 2010 Summary of Balance Sheet Metrics
Supermicro © 2009 14 Q1 FY 2010 Summary of Balance Sheet Metrics ($’s millions) Change Cash Equivalents & Investments 85.2 $ 85.0 $ 0.2 $ Accounts Receivable 50.1 $ 45.7 $ 4.4 $ Inventory 100.1 $ 90.0 $ 10.1 $ Accounts Payable 86.3 $ 73.5 $ 12.8 $ DSO -3 DIO -6 DPO -1 Cash Cycle Days -8
Slide 15: Supplemental Financials
Supermicro © 2009 15 Supplemental Financials First Quarter Fiscal 2010 Ended September 30, 2009
Slide 16: Non-GAAP Financial Summary
Supermicro © 2009 16 Non-GAAP Financial Summary (in millions, except per share data) Net Sales 148.5 $ 123.5 $ 144.1 $ Non-GAAP Gross Margin 16.6% 16.7% 19.4% Non-GAAP Operating Expenses 15.6 $ 15.2 $ 14.9 $ Non-GAAP Operating Income 9.1 $ 5.4 $ 13.0 $ Non-GAAP Net Income 5.8 $ 3.8 $ 8.3 $ Non-GAAP
Slide 17: Prior Period Net Income Comparisons
Supermicro © 2009 17 Prior Period Net Income Comparisons (in millions, except per share data) Net Income (GAAP) 3.9 $ 2.4 $ 7.2 $ FAS123R & Other Unusual Expense (tax affected) 1.9 $ 1.4 $ 1.1 $ Net Income (Non-GAAP) 5.8 $ 3.8 $ 8.3 $ Diluted Net Income per share (GAAP) 0.10 $ 0.06 $ 0.18 $ FAS123R
Slide 18: Q1 FY 2010 GAAP to Non-GAAP Reconciliation
Supermicro © 2009 18 Q1 FY 2010 GAAP to Non-GAAP Reconciliation (in millions, except per share data) FAS123R & 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 $
Slide 19: Q4 FY 2009 GAAP to Non-GAAP Reconciliation
Supermicro © 2009 19 Q4 FY 2009 GAAP to Non-GAAP Reconciliation (in millions, except per share data) Q4'09 GAAP FAS123R Non-GAAP Results Expenses Results Net Sales 123.5 $ - $ 123.5 $ Cost of Sales 103.0 $ 0.2 $ 102.8 $ Gross Profit 20.5 $ 0.2 $ 20.6 $ Operating Expense 16.7 $ 1.5 $ 15.2 $ Operating
Slide 20: Q3 FY 2009 GAAP to Non-GAAP Reconciliation
Supermicro © 2009 20 Q3 FY 2009 GAAP to Non-GAAP Reconciliation (in millions, except per share data) Q3'09 GAAP FAS123R Non-GAAP Results Expenses Results Net Sales 109.5 $ - $ 109.5 $ Cost of Sales 93.2 $ 0.1 $ 93.1 $ Gross Profit 16.3 $ 0.1 $ 16.5 $ Operating Expense 15.9 $ 1.2 $ 14.6 $ Operating I
Slide 21: Q2 FY 2009 GAAP to Non-GAAP Reconciliation
Supermicro © 2009 21 Q2 FY 2009 GAAP to Non-GAAP Reconciliation (in millions, except per share data) Q2'09 GAAP FAS123R Non-GAAP Results Expenses Results Net Sales 128.6 $ - $ 128.6 $ Cost of Sales 104.5 $ 0.1 $ 104.3 $ Gross Profit 24.1 $ 0.1 $ 24.2 $ Operating Expense 16.8 $ 1.2 $ 15.6 $ Operating
Slide 22: Q1 FY 2009 GAAP to Non-GAAP Reconciliation
Supermicro © 2009 22 Q1 FY 2009 GAAP to Non-GAAP Reconciliation (in millions, except per share) Q1'09 GAAP FAS123R Non-GAAP Results Expenses Results Net Sales 144.1 $ - $ 144.1 $ Cost of Sales 116.2 $ 0.1 $ 116.1 $ Gross Profit 27.8 $ 0.1 $ 28.0 $ Operating Expense 16.0 $ 1.1 $ 14.9 $ Operating Inco