Super Micro Computer, Inc. (Supermicro) reported a significant increase in financial performance for the third quarter of fiscal year 2024, which ended on March 31, 2024. The company announced net sales of $3.85 billion, a substantial increase from $3.66 billion in the previous quarter and $1.28 billion in the same quarter of the previous year. Gross margin was reported at 15.5%, slightly up from 15.4% in the second quarter but down from 17.6% in the same quarter of the previous year. Net income saw a remarkable rise to $402 million, compared to $296 million in the second quarter and $86 million in the same quarter of the previous year. Earnings per share (EPS) also increased, with diluted net income per common share at $6.56, up from $5.10 in the previous quarter and $1.53 year-over...Show More

Super Micro Computer, Inc. (Supermicro) reported a significant increase in financial performance for the third quarter of fiscal year 2024, which ended on March 31, 2024. The company announced net sales of $3.85 billion, a substantial increase from $3.66 billion in the previous quarter and $1.28 billion in the same quarter of the previous year. Gross margin was reported at 15.5%, slightly up from 15.4% in the second quarter but down from 17.6% in the same quarter of the previous year. Net income saw a remarkable rise to $402 million, compared to $296 million in the second quarter and $86 million in the same quarter of the previous year. Earnings per share (EPS) also increased, with diluted net income per common share at $6.56, up from $5.10 in the previous quarter and $1.53 year-over-year. The non-GAAP diluted net income per common share was $6.65, adjusted for stock-based compensation expenses. The company's cash flow used in operations was $1,520 million, with capital expenditures of $93 million. As of March 31, 2024, Supermicro had $2,115 million in cash and cash equivalents, with total bank debt and convertible notes at $1,863 million. The company's CEO, Charles Liang, highlighted the year-over-year revenue growth of 200% and non-GAAP EPS growth of 308%, attributing the success to strong demand for AI rack scale PnP solutions and innovative DLC designs. Supermicro raised its fiscal year 2024 revenue outlook from $14.3 to $14.7 billion to a new range of $14.7 to $15.1 billion. For the fourth quarter of fiscal year 2024, the company expects net sales of $5.1 billion to $5.5 billion, with GAAP net income per diluted share of $7.20 to $8.05 and non-GAAP net income per diluted share of $7.62 to $8.42. The company's financial results were released in a press release dated April 30, 2024, and were furnished to the SEC in a Form 8-K filing.