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.
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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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.
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.