Actionable news
All posts from Actionable news
Actionable news in SMCI: Super Micro Computer, Inc.,

Super Micro: Press Release Dated October 8, 2015 Exhibit

The following excerpt is from the company's SEC filing.

Exhibit 99.1

Super Micro Computer Inc. Provides First Quarter Financial Update and Schedules Conference Call and Webcast for First Quarter Fiscal 2016 Financial Results

San Jose, Calif., October 8, 2015 (BUSINESS WIRE) - Super Micro Computer, Inc. (NASDAQ:

), a global leader in high-performance, high-efficiency server, storage technology and green computing, today provided preliminary information regarding its financial results for the first fiscal quarter ended September 30, 2015.

The company also announced that it will release first quarter fiscal 2016 financial results on Thursday, October 22, 2015, immediately after the close of regular trading, followed by a teleconference beginning at 2:00 p.m. (Pacific Time).

The company now anticipates that it will report revenue for its first quarter of fiscal 2016 in the range of $529 million to $530 million. This compares to the company’s previous guidance range of $520 million to $580 million.

Non-GAAP gross margin is expected to be approximately 15.6% to 15.7%.

The company anticipates that it will report non-GAAP operating expenses for first fiscal quarter between $2.0 million and $3.0 million higher than the fourth fiscal quarter of 2015. The increase in expenses was primarily due to higher compensation expenses and headcount increases to support new technologies and higher legal and other expenses associated with our previously disclosed review of certain marketing expenses.

The company also anticipates that its non-GAAP earnings per share will be in a range of $0.44 to $0.45. This compares to the company’s previous guidance of $0.49 to $0.59.

The company ended the first quarter of fiscal 2016 with approximately $113.6 million in cash and cash equivalents, and short and long term investments compared to $98.1 million at the end of fourth quarter of fiscal 2015.

“Stronger seasonal effects combined with weaker Europe and Asia activity, and customer push outs led to our revenue being at the lower end of our guidance. The pattern of seasonally weak September and March quarters as compared to stronger June and December quarters...