Super Micro Computer Reports 3rd Quarter 2014 Financial Results [Professional Services Close - Up]
(Professional Services Close - Up Via Acquire Media NewsEdge) Super Micro Computer, Inc., a company focusing on application optimized, high performance server solutions, announced third quarter fiscal 2014 financial results for the quarter ended March 31.
Fiscal 3rd Quarter Highlights
-Quarterly net sales of $373.8 million, up 4.9 percent from the second quarter of fiscal year 2014 and up 34.4 percent from the same quarter of last year.
-Server solutions accounted for 50.1 percent of net sales compared with 48.8 percent in the second quarter of fiscal year 2014 and 41.8 percent in the same quarter of last year.
In a release on April 22, the Company noted that net sales for the third quarter ended March 31, totaled $373.8 million, up 4.9 percent from $356.4 million in the second quarter of fiscal year 2014. No customer accounted for more than 10 percent of net sales during the quarter ended March 31.
The Company's cash and cash equivalents and short and long term investments at March 31, were $104.4 million compared to $95.7 million at June 30, 2013. Free cash flow for the nine months ended March 31, was $(24.3) million primarily due to the purchase of real property in San Jose, California for $30.1 million partially offset by an increase in cash provided by operating activities for $12.5 million.
Business Outlook & Management Commentary
The Company expects net sales of $370 million to $410 million for the fourth quarter of fiscal year 2014 ending June 30.
"Supermicro's third quarter was a second straight quarter of record highs for revenue and earnings. Revenues were 34.4 percent higher year over year with strong growth coming from North America and from internet data centers. We grew again in multiples of the industry growth rate, expanded market share, and continued to lead the industry in system innovation and time to market," said Charles Liang, CEO and President of Super Micro. "As we extend our business model to provide more complete solutions including software and maintenance support together with our global operations, we are prepared to drive Supermicro to increased sales momentum in 2014."
It is currently expected that the outlook will not be updated until the Company's next quarterly earnings announcement, notwithstanding subsequent developments. However, the Company may update the outlook or any portion thereof at any time. Such updates will take place only by way of a news release or other broadly disseminated disclosure available to all interested parties in accordance with Regulation FD.
Supermicro, a provider of high-performance, high-efficiency server technology and is a provider of green computing solutions for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems worldwide.
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