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Actionable news in SMCI: Super Micro Computer, Inc.,

Results of Operations and Financial

On October 22, 2015, Super Micro Computer, Inc. issued a press release announcing its operating and financial results for the first quarter of fiscal year 2016 (the October Press Release). In connection with the completion of the Companys quarter-end closing and review procedures and the preparation of its Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 (the Form 10-Q), the Company has determined that for certain contracts which included extended product warranties, revenue relating to the extended warranties was recorded as revenue in prior periods instead of being deferred and amortized over the contractual period.

The Company has determined the cumulative impact on revenue that should have been deferred for the applicable contracts for the three prior fiscal year period ended June 30, 2015 was $9.3 million and for the quarter ended September 30, 2015 was $1.3 million. As a result, the condensed consolidated statement of operations and condensed consolidated balance sheet included in the Companys Form 10-Q reflect aggregate net sales for the quarter ended September 30, 2015 of $519.6 million, $10.6 million less than reflected in the October Press Release. This deferred revenue will be recognized through January 2019. The reduction in net sales also resulted in a reduction in GAAP net income of $6.8 million, or $0.13 per diluted share, from $20.5...


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