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Super Micro Computer (SMCI) Stock Falls on Fiscal First Quarter Warning

NEW YORK (TheStreet) -- Shares of Super Micro Computer (SMCI - Get Report) were falling 14.3% to $27.28 with heavy trading volume on Friday after the server technology company lowered its guidance for the first quarter of fiscal 2016.

Super Micro said it now expects to report earnings of 44 cents to 45 cents a share for the fiscal first quarter, down from its previous estimate of 49 cents to 59 cents a share for the quarter. Analysts expect the company to report earnings of 54 cents a share for the quarter.

The server OEM expects to report revenue of $529 million to $530 million for the fiscal first quarter, down from its previous estimate of $520 million to $580 million. Analysts expect Super Micro to report revenue of $545 million for the quarter.

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"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," Chairman and CEO Charles Liang said in a statement. "The pattern of seasonally weak September and March quarters as compared to stronger June and December quarters continues."

Liang added that the company maintained its revenue growth...


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