Super Micro Computer, Inc. (SMCI) Stock Surged 11.98% Pre-Market, Here’s Why    

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NTP Stock
NTP Stock

Super Micro Computer, Inc. (SMCI) stock soared 11.983% in the pre-market trading session at the price of $41.50 after announcing its earnings report for the first fiscal quarter ended 30th September 2021. SMCI is a leading innovator in high-efficiency server, high-performance, and storage technology. It provides Server Building Block Solutions for Artificial Intelligence, Enterprise Data Center, Edge Computing Systems, and Cloud Computing globally.  

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SMCI First Quarter Fiscal 2022 Financial Results 

On 2nd November 2021, SMCI published its financial results for the first fiscal quarter ended 30th September 2021 and provided corporate updates.


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Financial Highlights 

SMCI reported net sales of $1.03 billion for the first quarter of fiscal 2022 compared to $762 million in the same quarter of the previous year. Net sales were approximately $1.07 billion in the fourth quarter of fiscal 2021. The gross margin was 13.4% for the first fiscal quarter ended on 30th September 2021. The gross margin was 13.6% in the fourth quarter of fiscal 2021 and 17.0% in the first fiscal quarter ended on 30th September 2020.  

The company reported a net income of approximately $25 million for the first fiscal quarter ended on 30th September 2021. For the first fiscal quarter ended on 30th September 2020, net income was $27 million. Net income was $39 million in the fourth quarter of fiscal 2021. Diluted net income per share was $0.48 for the first quarter of fiscal 2022, compared to $0.49 for the same quarter of fiscal 2021. SMCI reported diluted net income per share of $0.74 for the fourth quarter of fiscal 2021.  

Cash flow used in operations was approximately $135 million for the first fiscal quarter ended on 30th September 2021. SMCI reported capital expenditures of $12 million for the first quarter of fiscal 2022. On 30th September 2021, total cash and cash equivalents were approximately $270 million. Total bank debt was $279 million as of 30th September 2021.

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SMCI Financial Outlook 

SMCI anticipates net sales to range from $1.1 billion to $1.2 billion for the second fiscal quarter ending 31st December 2021. The company expects net income per share to be from $0.60 to $0.80 for the second quarter of fiscal 2022. For the fiscal year ending 30th June 2022, net sales are expected to range from $4.2 billion to $4.6 billion. 

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