SAN JOSE, Calif.--(BUSINESS WIRE)--
Super Micro Computer, Inc. (NASDAQ:SMCI), a leader in application
optimized, high performance server solutions, today announced third
quarter fiscal 2013 financial results for the quarter ended March 31,
2013.
Fiscal 3rd Quarter Highlights
-
Quarterly net sales of $278.0 million, down 4.6% from the second
quarter of fiscal year 2013 and up 15.8% from the same quarter of last
year.
-
Net income of $7.0 million, up 43.3% from the second quarter of fiscal
year 2013 and down 0.5% from the same quarter of last year.
-
Gross margin of 14.0%, up from 13.8% in the second quarter of fiscal
year 2013 and down from 17.0% in the same quarter of last year.
-
Server solutions accounted for 41.8% of net sales compared with 43.3%
in the second quarter of fiscal year 2013 and 48.5% in the same
quarter of last year.
Net sales for the third quarter ended March 31, 2013 totaled $278.0
million, down 4.6% from $291.5 million in the second quarter of fiscal
year 2013. No customer accounted for more than 10% of net sales during
the quarter ended March 31, 2013.
Net income for the third quarter of fiscal year 2013 was $7.0 million or
$0.16 per diluted share, a decrease of 0.5% from the net income of $7.1
million, or $0.16 per diluted share in the same period a year ago.
Included in net income for the quarter is $2.9 million of stock-based
compensation expense (pre-tax). Excluding this item and the related tax
effect, non-GAAP net income for the third quarter was $10.0 million, or
$0.23 per diluted share, compared to non-GAAP net income of $8.8
million, or $0.19 per diluted share, in the same quarter of the prior
year. On a sequential basis, non-GAAP net income increased from the
second quarter of fiscal year 2013 by $2.2 million or $0.05 per diluted
share. Net income and earnings per share for the third quarter of fiscal
2013 included a tax benefit of approximately $2.3 million or $0.05 per
share as a result of the reinstatement of the U.S. federal R&D tax
credit on January 2, 2013 and a tax benefit of approximately $2.0
million or $0.05 per share from a release of liability for taxes as a
result of the resolution of a tax audit during the quarter.
Gross margin for the third quarter was 14.0% compared to 17.0% in the
same period a year ago. Non-GAAP gross margin for the third quarter was
14.1% compared to 17.0% in the same period a year ago. Gross margin and
Non-GAAP gross margin for the second quarter of fiscal year 2013 were
each 13.8%.
The Company's cash and cash equivalents and short and long term
investments at March 31, 2013 were $96.7 million compared to $83.8
million at June 30, 2012. Free cash flow in the nine months ended March
31, 2013 was $9.2 million primarily due to a decrease in inventory for
hard disk drives.
Business Outlook & Management Commentary
The Company expects net sales of $295 million to $315 million for the
fourth quarter of fiscal year 2013 ending June 30, 2013. The Company
expects non-GAAP earnings per diluted share of approximately $0.17 to
$0.22 for the fourth quarter.
"The typical March quarter seasonality was evident in the lower
sequential revenue. However, we are pleased that revenue for the quarter
was up 15.8% from last year. Our revenue growth this quarter outpaced
the industry's growth and we expect this trend will continue," said
Charles Liang, CEO of Supermicro. "Supermicro continues to take market
share by providing the industry's most innovative products that feature
the best performance per watt, per dollar, and per square foot. Our
servers' system management software has been consistently gaining
customer acceptance which will continue to add value to our complete
solutions offering."
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.
Conference Call Information
Super Micro Computer will discuss these financial results in a
conference call at 2:00 p.m. PT, today. To participate the conference,
please call 1-888-395-3227 (international callers dial 1-719-785-1753)
10 minutes prior. A recording of the conference will be available until
11:59 pm ET on Tuesday, May 7, 2013 by dialing 1-877-870-5176
(international callers dial 1-858-384-5517) and entering replay PIN
2907442. The live web cast and recording of the call will be available
on the Investor Relations section at www.supermicro.com
two hours after the conference conclusion. They will remain available
until the Company's next earnings call.
Cautionary Statement Regarding Forward Looking Statements
Statements contained in this press release that are not historical fact
may be forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements may relate, among other
things, to our expected financial and operating results, our ability to
build and grow Super Micro Computer, the benefits of our products and
our ability to achieve our goals, plans and objectives. Such
forward-looking statements do not constitute guarantees of future
performance and are subject to a variety of risks and uncertainties that
could cause our actual results to differ materially from those
anticipated. These include, but are not limited to: our dependence on
continued growth in the markets for X86, blade servers and embedded
applications, increased competition, difficulties of predicting timing,
introduction and customer acceptance of new products, poor product
sales, difficulties in establishing and maintaining successful
relationships with our distributors and vendors, shortages or price
fluctuations in our supply chain, our ability to protect our
intellectual property rights, our ability to control the rate of
expansion domestically and internationally, difficulty managing rapid
growth and general political, economic and market conditions and events.
Additional factors that could cause actual results to differ materially
from those projected or suggested in any forward-looking statements are
contained in our filings with the Securities and Exchange Commission,
including those factors discussed under the caption "Risk Factors" in
such filings.
Use of Non-GAAP Financial Measures
Non-GAAP gross margin discussed in this press release excludes
stock-based compensation expense for prior periods. Non-GAAP net income
and net income per share discussed in this press release exclude
stock-based compensation expense and the related tax effect of the
applicable items. Management presents non-GAAP financial measures
because it considers them to be important supplemental measures of
performance. Management uses the non-GAAP financial measures for
planning purposes, including analysis of the Company's performance
against prior periods, the preparation of operating budgets and to
determine appropriate levels of operating and capital investments.
Management also believes that the non-GAAP financial measures provide
additional insight for analysts and investors in evaluating the
Company's financial and operational performance. However, these non-GAAP
financial measures have limitations as an analytical tool, and are not
intended to be an alternative to financial measures prepared in
accordance with GAAP. Pursuant to the requirements of SEC Regulation G,
detailed reconciliations between the Company's GAAP and non-GAAP
financial results is provided at the end of this press release.
Investors are advised to carefully review and consider this information
as well as the GAAP financial results that are disclosed in the
Company's SEC filings.
About Super Micro Computer, Inc.
Supermicro® (NASDAQ: SMCI), a global leader in
high-performance, high-efficiency server technology innovation is a
premier provider of end-to-end green computing solutions for Enterprise
IT, Datacenter, Cloud Computing, HPC and Embedded Systems worldwide.
Supermicro's advanced server Building Block Solutions® offers
a vast array of modular, interoperable components for building
energy-efficient, application-optimized computing solutions. This broad
line of products includes servers, blades, GPU systems, workstations,
motherboards, chassis, power supplies, storage technologies, networking
solutions and SuperRack® cabinets/accessories. Architecture
innovations include Twin Architecture, SuperServer®,
SuperBlade®, MicroCloud, Super Storage Bridge Bay (SBB),
Double-Sided Storage™, Universal I/O (UIO) and WIO expansion
technology all of which deliver unrivaled performance and value.
Supermicro is committed to protecting the environment through its "We
Keep IT Green®" initiative by providing customers with the
most energy-efficient, environmentally-friendly solutions available on
the market. Founded in 1993, Supermicro is headquartered in Silicon
Valley with worldwide operations and manufacturing centers in Europe and
Asia. For more information, visit www.supermicro.com.
Supermicro, Building Block Solutions, SuperServer, SuperBlade,
SuperRack, Double-Sided Storage and We Keep IT Green are trademarks
and/or registered trademarks of Super Micro Computer, Inc.
|
SUPER MICRO COMPUTER, INC. |
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(In thousands)
|
(Unaudited)
|
|
|
March 31,
|
|
June 30,
|
|
|
|
2013
|
|
|
2012
|
ASSETS
|
|
|
|
|
Current assets:
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
93,974
|
|
$
|
80,826
|
Accounts receivable, net
|
|
|
122,339
|
|
|
102,014
|
Inventory
|
|
|
257,341
|
|
|
276,599
|
Deferred income taxes — current
|
|
|
15,448
|
|
|
12,638
|
Prepaid income taxes
|
|
|
4,191
|
|
|
3,478
|
Prepaid expenses and other current assets
|
|
|
6,512
|
|
|
6,357
|
Total current assets
|
|
|
499,805
|
|
|
481,912
|
Long-term investments
|
|
|
2,650
|
|
|
2,923
|
Property, plant and equipment, net
|
|
|
95,442
|
|
|
97,419
|
Deferred income taxes — noncurrent
|
|
|
6,843
|
|
|
3,459
|
Other assets
|
|
|
3,312
|
|
|
3,390
|
Total assets
|
|
$
|
608,052
|
|
$
|
589,103
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
Current liabilities:
|
|
|
|
|
Accounts payable
|
|
$
|
163,607
|
|
$
|
173,991
|
Accrued liabilities
|
|
|
33,070
|
|
|
30,401
|
Income taxes payable
|
|
|
3,723
|
|
|
2,754
|
Short-term debt and current portion of long-term debt
|
|
|
28,745
|
|
|
13,362
|
Total current liabilities
|
|
|
229,145
|
|
|
220,508
|
Long term debt-net of current portion
|
|
|
7,233
|
|
|
19,395
|
Other long-term liabilities
|
|
|
9,507
|
|
|
10,849
|
Total liabilities
|
|
|
245,885
|
|
|
250,752
|
Stockholders' equity:
|
|
|
|
|
Common stock and additional paid-in capital
|
|
|
154,579
|
|
|
143,806
|
Treasury stock (at cost)
|
|
|
(2,030)
|
|
|
(2,030)
|
Accumulated other comprehensive loss
|
|
|
(61)
|
|
|
(76)
|
Retained earnings
|
|
|
209,504
|
|
|
196,651
|
Total Super Micro Computer Inc. stockholders' equity
|
|
|
361,992
|
|
|
338,351
|
Noncontrolling interest
|
|
|
175
|
|
|
-
|
Total liabilities and stockholders' equity
|
|
$
|
608,052
|
|
$
|
589,103
|
|
|
|
|
|
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
(In thousands, except share and per share amounts)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
|
|
2013
|
|
|
2012
|
|
2013
|
|
|
2012
|
Net sales
|
|
$
|
278,034
|
|
$
|
240,178
|
|
$ 840,228 |
|
$
|
737,978
|
Cost of sales
|
|
|
239,141
|
|
|
199,449
|
|
726,198
|
|
|
615,009
|
Gross profit
|
|
|
38,893
|
|
|
40,729
|
|
114,030
|
|
|
122,969
|
Operating expenses:
|
|
|
|
|
|
|
|
|
Research and development
|
|
|
18,606
|
|
|
17,162
|
|
55,651
|
|
|
46,643
|
Sales and marketing
|
|
|
8,713
|
|
|
8,175
|
|
25,424
|
|
|
23,917
|
General and administrative
|
|
|
6,134
|
|
|
5,802
|
|
18,225
|
|
|
15,587
|
Total operating expenses
|
|
|
33,453
|
|
|
31,139
|
|
99,300
|
|
|
86,147
|
Income from operations
|
|
|
5,440
|
|
|
9,590
|
|
14,730
|
|
|
36,822
|
Interest and other income, net
|
|
|
2
|
|
|
9
|
|
24
|
|
|
46
|
Interest expense
|
|
|
(142)
|
|
|
(189)
|
|
(449)
|
|
|
(556)
|
Income before income tax provision
|
|
|
5,300
|
|
|
9,410
|
|
14,305
|
|
|
36,312
|
Income tax provision (benefit)
|
|
|
(1,740)
|
|
|
2,333
|
|
1,452
|
|
|
11,969
|
Net income
|
|
$
|
7,040
|
|
$
|
7,077
|
|
$ 12,853 |
|
$
|
24,343
|
Net income per common share:
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.17
|
|
$
|
0.17
|
|
$ 0.31 |
|
$
|
0.59
|
Diluted
|
|
$
|
0.16
|
|
$
|
0.16
|
|
$ 0.29 |
|
$
|
0.55
|
Weighted-average shares used in calculation of net income per common
share:
|
|
|
|
|
|
|
|
|
Basic (a)
|
|
|
42,147
|
|
|
41,126
|
|
41,901
|
|
|
40,679
|
Diluted (b)
|
|
|
44,148
|
|
|
44,610
|
|
43,921
|
|
|
43,957
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation is included in the following cost and
expense categories by period (in thousands):
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
|
|
2013
|
|
|
2012
|
|
2013
|
|
|
2012
|
Cost of sales
|
|
$
|
232
|
|
$
|
183
|
|
$
|
696
|
|
$ 591 |
Research and development
|
|
|
1,666
|
|
|
1,394
|
|
|
4,928
|
|
3,994
|
Sales and marketing
|
|
|
389
|
|
|
397
|
|
|
1,182
|
|
1,037
|
General and administrative
|
|
|
563
|
|
|
619
|
|
|
1,856
|
|
1,808
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPER MICRO COMPUTER, INC.
|
CONDENSED CONSOLIDATED CASH FLOW STATEMENTS
|
(In thousands)
|
(Unaudited)
|
|
|
Nine Months Ended
March 31,
|
|
|
|
2013
|
|
|
2012
|
OPERATING ACTIVITIES:
|
|
|
|
|
Net income
|
|
$
|
12,853
|
|
$
|
24,343
|
Reconciliation of net income to net cash provided by operating
activities:
|
|
|
|
|
Depreciation and amortization
|
|
|
5,900
|
|
|
5,114
|
Stock-based compensation expense
|
|
|
8,662
|
|
|
7,430
|
Excess tax benefits from stock-based compensation
|
|
|
(844)
|
|
|
(1,907)
|
Allowance for doubtful accounts
|
|
|
696
|
|
|
203
|
Provision for inventory
|
|
|
8,744
|
|
|
5,686
|
Exchange gain
|
|
|
(158)
|
|
|
-
|
Deferred income taxes, net
|
|
|
(6,205)
|
|
|
(2,082)
|
Changes in operating assets and liabilities:
|
|
|
|
|
Accounts receivable, net
|
|
|
(21,021)
|
|
|
(16,178)
|
Inventory
|
|
|
10,514
|
|
|
(41,908)
|
Prepaid expenses and other assets
|
|
|
169
|
|
|
(2,713)
|
Accounts payable
|
|
|
(9,602)
|
|
|
29,424
|
Income taxes payable, net
|
|
|
1,943
|
|
|
6,704
|
Accrued liabilities
|
|
|
3,268
|
|
|
3,266
|
Other long-term liabilities
|
|
|
(1,350)
|
|
|
1,646
|
Net cash provided by operating activities
|
|
|
13,569
|
|
|
19,028
|
|
|
|
|
|
INVESTING ACTIVITIES:
|
|
|
|
|
Proceeds from investments
|
|
|
300
|
|
|
2,075
|
Purchases of property, plant and equipment
|
|
|
(4,346)
|
|
|
(21,710)
|
Restricted cash
|
|
|
(407)
|
|
|
(39)
|
Land deposit refund
|
|
|
-
|
|
|
2,868
|
Net cash used in investing activities
|
|
|
(4,453)
|
|
|
(16,806)
|
|
|
|
|
|
FINANCING ACTIVITIES:
|
|
|
|
|
Proceeds from debt
|
|
|
20,641
|
|
|
32,696
|
Repayment of debt
|
|
|
(17,373)
|
|
|
(24,662)
|
Proceeds from exercise of stock options
|
|
|
1,446
|
|
|
7,694
|
Excess tax benefits from stock-based compensation
|
|
|
844
|
|
|
1,907
|
Payment of obligations under capital leases
|
|
|
(31)
|
|
|
(26)
|
Payments under receivable financing arrangements
|
|
|
(586)
|
|
|
(194)
|
Contribution from noncontrolling interests
|
|
|
168
|
|
|
-
|
Minimum tax withholding paid on behalf of an officer for restricted
stock awards
|
|
|
(1,022)
|
|
|
(1,109)
|
Net cash provided by financing activities
|
|
|
4,087
|
|
|
16,306
|
Effect of exchange rate fluctuations on cash
|
|
|
(55)
|
|
|
390
|
Net increase in cash and cash equivalents
|
|
|
13,148
|
|
|
18,918
|
Cash and cash equivalents at beginning of period
|
|
|
80,826
|
|
|
69,943
|
Cash and cash equivalents at end of period
|
|
$
|
93,974
|
|
$
|
88,861
|
Supplemental disclosure of cash flow information:
|
|
|
|
|
Cash paid for interest
|
|
$
|
551
|
|
$
|
545
|
Cash paid for taxes, net of refunds
|
|
$
|
6,793
|
|
$
|
6,301
|
Non-cash investing and financing activities:
|
|
|
|
|
Accrued costs for property, plant and equipment purchases
|
|
$
|
180
|
|
$
|
874
|
Deposit applied to property acquisition
|
|
$
|
-
|
|
$
|
5,867
|
Equipment purchased under capital leases
|
|
$
|
26
|
|
$
|
7
|
|
|
|
|
|
|
|
|
SUPER MICRO COMPUTER, INC |
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
|
(In thousands, except share and per share amounts)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
|
|
2013
|
|
|
2012
|
|
|
2013
|
|
|
2012
|
GAAP GROSS PROFIT
|
|
$
|
38,893
|
|
$
|
40,729
|
|
$
|
114,030
|
|
$
|
122,969
|
Add back stock-based compensation (c)
|
|
|
232
|
|
|
183
|
|
|
696
|
|
|
591
|
Non-GAAP GROSS PROFIT
|
|
$
|
39,125
|
|
$
|
40,912
|
|
$
|
114,726
|
|
$
|
123,560
|
|
|
|
|
|
|
|
|
|
GAAP GROSS MARGIN
|
|
|
14.0%
|
|
|
17.0%
|
|
|
13.6%
|
|
|
16.7%
|
Add back stock-based compensation (c)
|
|
|
0.1%
|
|
|
0.0%
|
|
|
0.1%
|
|
|
0.0%
|
Non-GAAP GROSS MARGIN
|
|
|
14.1%
|
|
|
17.0%
|
|
|
13.7%
|
|
|
16.7%
|
|
|
|
|
|
|
|
|
|
GAAP INCOME FROM OPERATIONS
|
|
$
|
5,440
|
|
$
|
9,590
|
|
$
|
14,730
|
|
$
|
36,822
|
Add back stock-based compensation (c)
|
|
|
2,850
|
|
|
2,593
|
|
|
8,662
|
|
|
7,430
|
Non-GAAP INCOME FROM OPERATIONS
|
|
$
|
8,290
|
|
$
|
12,183
|
|
$
|
23,392
|
|
$
|
44,252
|
|
|
|
|
|
|
|
|
|
GAAP NET INCOME
|
|
$
|
7,040
|
|
$
|
7,077
|
|
$
|
12,853
|
|
$
|
24,343
|
Add back stock-based compensation (c)
|
|
|
2,850
|
|
|
2,593
|
|
|
8,662
|
|
|
7,430
|
Add back adjustments to tax benefit (provision) (d)
|
|
|
139
|
|
|
(860)
|
|
|
(607)
|
|
|
(1,313)
|
Non-GAAP NET INCOME
|
|
$
|
10,029
|
|
$
|
8,810
|
|
$
|
20,908
|
|
$
|
30,460
|
|
|
|
|
|
|
|
|
|
GAAP NET INCOME PER COMMON SHARE — BASIC (a)
|
|
$
|
0.17
|
|
$
|
0.17
|
|
$
|
0.31
|
|
$
|
0.59
|
Add back stock-based compensation and adjustments to tax provision
(c) (d)
|
|
|
0.07
|
|
|
0.04
|
|
|
0.19
|
|
|
0.15
|
Non-GAAP NET INCOME PER COMMON SHARE — BASIC (e)
|
|
$
|
0.24
|
|
$
|
0.21
|
|
$
|
0.50
|
|
$
|
0.74
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP NET INCOME PER COMMON SHARE — DILUTED (b)
|
|
$
|
0.16
|
|
$
|
0.16
|
|
$
|
0.29
|
|
$
|
0.55
|
Add back stock-based compensation and adjustments to tax provision
(c) (d)
|
|
|
0.07
|
|
|
0.03
|
|
|
0.18
|
|
|
0.13
|
Non-GAAP NET INCOME PER COMMON SHARE — DILUTED (f)
|
|
$
|
0.23
|
|
$
|
0.19
|
|
$
|
0.47
|
|
$
|
0.68
|
|
|
|
|
|
|
|
|
|
WEIGHTED-AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE
|
|
|
|
|
|
|
|
|
BASIC —GAAP (g)
|
|
|
42,147
|
|
|
41,126
|
|
|
41,901
|
|
|
40,679
|
BASIC - Non-GAAP (h)
|
|
|
42,330
|
|
|
41,486
|
|
|
42,121
|
|
|
41,075
|
|
|
|
|
|
|
|
|
|
DILUTED — GAAP (g)
|
|
|
44,148
|
|
|
44,610
|
|
|
43,921
|
|
|
43,957
|
DILUTED - Non-GAAP (h)
|
|
|
44,498
|
|
|
45,501
|
|
|
44,279
|
|
|
44,824
|
|
|
|
|
|
|
|
|
|
|
(a) Approximately $30,000 and $67,000 of undistributed earnings
allocated to participating securities were not included in the
determination of GAAP basic net income per common share for the
three and nine months ended March 31, 2013, respectively, and
approximately $61,000 and $235,000 for the three and nine months
ended March 31, 2012, respectively.
|
|
(b) Approximately $29,000 and $64,000 of undistributed earnings
allocated to participating securities were not included in the
determination of GAAP diluted net income per common share for the
three and nine months ended March 31, 2013, respectively, and
approximately $57,000 and $217,000 for the three and nine months
ended March 31, 2012, respectively.
|
|
(c) Amortization of ASC Topic 718 stock-based compensation for the
three and nine months ended March 31, 2013 and 2012.
|
|
(d) The provision of (benefit from) income taxes used in arriving at
the non-GAAP net income was computed using an income tax rate of
(23.1)% and 9.0% for the three and nine months ended March 31, 2013,
respectively, and 26.6% and 30.4% for the three and nine months
ended March 31, 2012, respectively.
|
|
(e) Approximately $43,000 and $109,000 of undistributed earnings
allocated to participating securities were included in the
determination of Non-GAAP basic net income per common share for the
three and nine months ended March 31, 2013, respectively, and
approximately $76,000 and $294,000 of undistributed earnings
allocated to participating securities were included in the
determination of Non-GAAP basic net income per common share for the
three and nine months ended March 31, 2012, respectively.
|
|
(f) Approximately $41,000 and $104,000 of undistributed earnings
allocated to participating securities were included in the
determination of Non-GAAP diluted net income per common share for
the three and nine months ended March 31, 2013, respectively, and
approximately $70,000 and $269,000 of undistributed earnings
allocated to participating securities were included in the
determination of Non-GAAP diluted net income per common share for
the three and nine months ended March 31, 2012, respectively.
|
|
(g) 183,141 and 219,856 shares of unvested restricted stock awards
were not included in the determination of GAAP basic and diluted net
income per common share for the three and nine months ended March
31, 2013, respectively. 359,282 and 395,863 shares of unvested
restricted stock awards were not included in the determination of
GAAP basic and diluted net income per common share for the three and
nine months ended March 31, 2012, respectively.
|
|
(h) 183,141 and 219,856 shares of unvested restricted stock awards
were included in the determination of Non-GAAP basic and diluted
net income per common share for the three and nine months ended
March 31, 2013, respectively. 359,282 and 395,863 shares of
unvested restricted stock awards were included in the
determination of Non-GAAP basic and diluted net income per common
share for the three and nine months ended March 31, 2012,
respectively.
|
|
SMCI-F
Super Micro Computer, Inc.
Howard Hideshima, 408-503-8000
Chief
Financial Officer
ir@supermicro.com
or
Perry
G. Hayes
SVP, Investor Relations
ir@supermicro.com
Source: Super Micro Computer, Inc.
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