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 2014 financial results for the quarter ended March 31,
2014.
Fiscal 3rd Quarter Highlights
-
Quarterly net sales of $373.8 million, up 4.9% from the second quarter
of fiscal year 2014 and up 34.4% from the same quarter of last year.
-
GAAP net income of $16.6 million, up 24.3% from the second quarter of
fiscal year 2014 and up 135.4% from the same quarter of last year.
-
GAAP gross margin of 15.3%, down from 15.5% in the second quarter of
fiscal year 2014 and up from 14.0% in the same quarter of last year.
-
Server solutions accounted for 50.1% of net sales compared with 48.8%
in the second quarter of fiscal year 2014 and 41.8% in the same
quarter of last year.
Net sales for the third quarter ended March 31, 2014 totaled $373.8
million, up 4.9% from $356.4 million in the second quarter of fiscal
year 2014. No customer accounted for more than 10% of net sales during
the quarter ended March 31, 2014.
GAAP net income for the third quarter of fiscal year 2014 was $16.6
million or $0.35 per diluted share, an increase of 135.4% from the net
income of $7.0 million, or $0.16 per diluted share in the same period a
year ago. Included in net income for the quarter is $2.8 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 $17.8
million, or $0.37 per diluted share, compared to non-GAAP net income of
$10.0 million, or $0.23 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 2014 by $1.9 million or $0.02 per
diluted share.
GAAP gross margin for the third quarter was 15.3% compared to 14.0% in
the same period a year ago. Non-GAAP gross margin for the third quarter
was 15.4% compared to 14.1% in the same period a year ago. GAAP gross
margin and Non-GAAP gross margin for the second quarter of fiscal year
2014 were both 15.5%.
The Company's cash and cash equivalents and short and long term
investments at March 31, 2014 were $104.4 million compared to $95.7
million at June 30, 2013. Free cash flow for the nine months ended March
31, 2014 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, 2014. The Company
expects non-GAAP earnings per diluted share of approximately $0.35 to
$0.41 for the fourth quarter.
"Supermicro's third quarter was a second straight quarter of record
highs for revenue and earnings. Revenues were 34.4% 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.
Conference Call Information
Super Micro Computer will discuss these financial results in a
conference call at 2:00 p.m. PT, today. To participate in the conference
call, please call 1-888-329-8893 (international callers dial
1-719-325-2491) 10 minutes prior. A recording of the conference call
will be available until 11:59 pm ET on Tuesday, May 6, 2014 by dialing
1-877-870-5176 (international callers dial 1-858-384-5517) and entering
replay PIN 6828329. 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 call 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. 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 and innovation is a premier provider
of end-to-end green computing solutions for Data Center, Cloud
Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems
worldwide. Supermicro's advanced Server Building Block Solutions® offer
a vast array of components for building energy-efficient,
application-optimized, computing solutions. Architecture innovations
include Twin, FatTwin™, MicroCloud, MicroBlade, SuperBlade®,
Double-sided Storage®, Battery Backup Power (BBP®) modules and WIO/UIO.
Products include servers, blades, GPU systems, workstations,
motherboards, chassis, power supplies, storage, networking, server
management software and SuperRack® cabinets/accessories delivering
unrivaled performance and value.
Founded in 1993 and headquartered in San Jose, California, Supermicro is
committed to protecting the environment through its "We Keep IT Green®"
initiative. The Company has global logistics and operations centers in
Silicon Valley (USA), the Netherlands (Europe) and its Science &
Technology Park in Taiwan (Asia).
Supermicro, FatTwin, UltraTwin, TwinPro, SuperBlade, Double-Sided
Storage, BBP, SuperRack, Building Block Solutions and We Keep IT Green
are trademarks and/or registered trademarks of Super Micro Computer,
Inc. All other brands, names and trademarks are the property of their
respective owners.
|
SUPER MICRO COMPUTER, INC. |
CONDENSED CONSOLIDATED BALANCE SHEETS
|
(In thousands)
|
(Unaudited)
|
|
|
|
March 31,
|
|
June 30,
|
|
|
|
2014
|
|
2013
|
ASSETS
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
$
|
101,714
|
|
|
$
|
93,038
|
|
Accounts receivable, net
|
|
|
182,028
|
|
|
149,340
|
|
Inventory
|
|
|
295,089
|
|
|
254,170
|
|
Deferred income taxes - current
|
|
|
21,168
|
|
|
15,786
|
|
Prepaid income taxes
|
|
|
5,426
|
|
|
4,039
|
|
Prepaid expenses and other current assets
|
|
|
5,420
|
|
|
6,819
|
|
Total current assets
|
|
|
610,845
|
|
|
523,192
|
|
Long-term investments
|
|
|
2,637
|
|
|
2,637
|
|
Property, plant and equipment, net
|
|
|
128,504
|
|
|
95,912
|
|
Deferred income taxes - noncurrent
|
|
|
5,740
|
|
|
7,275
|
|
Other assets
|
|
|
2,815
|
|
|
3,241
|
|
Total assets
|
|
|
$
|
750,541
|
|
|
$
|
632,257
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS' EQUITY
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
Accounts payable
|
|
|
$
|
205,246
|
|
|
$
|
172,855
|
|
Accrued liabilities
|
|
|
32,372
|
|
|
34,122
|
|
Income taxes payable
|
|
|
12,782
|
|
|
6,049
|
|
Short-term debt and current portion of long-term debt
|
|
|
42,130
|
|
|
28,638
|
|
Total current liabilities
|
|
|
292,530
|
|
|
241,664
|
|
Long term debt-net of current portion
|
|
|
4,433
|
|
|
6,533
|
|
Other long-term liabilities
|
|
|
11,039
|
|
|
10,336
|
|
Total liabilities
|
|
|
308,002
|
|
|
258,533
|
|
Stockholders' equity:
|
|
|
|
|
|
Common stock and additional paid-in capital
|
|
|
188,931
|
|
|
157,712
|
|
Treasury stock (at cost)
|
|
|
(2,030
|
)
|
|
(2,030
|
)
|
Accumulated other comprehensive loss
|
|
|
(74
|
)
|
|
(69
|
)
|
Retained earnings
|
|
|
255,538
|
|
|
217,930
|
|
Total Super Micro Computer Inc. stockholders' equity
|
|
|
442,365
|
|
|
373,543
|
|
Noncontrolling interest
|
|
|
174
|
|
|
181
|
|
Total stockholders' equity
|
|
|
442,539
|
|
|
373,724
|
|
Total liabilities and stockholders' equity
|
|
|
$
|
750,541
|
|
|
$
|
632,257
|
|
|
SUPER MICRO COMPUTER, INC. |
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
|
(In thousands, except per share amounts)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
Net sales
|
|
$
|
373,755
|
|
|
$
|
278,034
|
|
|
$
|
1,039,133
|
|
|
$
|
840,228
|
|
Cost of sales
|
|
316,491
|
|
|
239,141
|
|
|
879,985
|
|
|
726,198
|
|
Gross profit
|
|
57,264
|
|
|
38,893
|
|
|
159,148
|
|
|
114,030
|
|
Operating expenses:
|
|
|
|
|
|
|
|
|
Research and development
|
|
20,570
|
|
|
18,606
|
|
|
61,234
|
|
|
55,651
|
|
Sales and marketing
|
|
9,416
|
|
|
8,713
|
|
|
27,257
|
|
|
25,424
|
|
General and administrative
|
|
5,806
|
|
|
6,134
|
|
|
16,938
|
|
|
18,225
|
|
Total operating expenses
|
|
35,792
|
|
|
33,453
|
|
|
105,429
|
|
|
99,300
|
|
Income from operations
|
|
21,472
|
|
|
5,440
|
|
|
53,719
|
|
|
14,730
|
|
Interest and other income, net
|
|
10
|
|
|
2
|
|
|
73
|
|
|
24
|
|
Interest expense
|
|
(156
|
)
|
|
(142
|
)
|
|
(535
|
)
|
|
(449
|
)
|
Income before income tax provision
|
|
21,326
|
|
|
5,300
|
|
|
53,257
|
|
|
14,305
|
|
Income tax provision (benefit)
|
|
4,752
|
|
|
(1,740
|
)
|
|
15,649
|
|
|
1,452
|
|
Net income
|
|
$
|
16,574
|
|
|
$
|
7,040
|
|
|
$
|
37,608
|
|
|
$
|
12,853
|
|
Net income per common share:
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
0.38
|
|
|
$
|
0.17
|
|
|
$
|
0.87
|
|
|
$
|
0.31
|
|
Diluted
|
|
$
|
0.35
|
|
|
$
|
0.16
|
|
|
$
|
0.82
|
|
|
$
|
0.29
|
|
Weighted-average shares used in calculation of net income per common
share:
|
|
|
|
|
|
|
|
|
Basic (a)
|
|
43,992
|
|
|
42,147
|
|
|
43,128
|
|
|
41,901
|
|
Diluted (b)
|
|
47,424
|
|
|
44,148
|
|
|
45,857
|
|
|
43,921
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
Cost of sales
|
|
$
|
246
|
|
|
$
|
232
|
|
|
$
|
726
|
|
|
$
|
696
|
|
Research and development
|
|
1,723
|
|
|
1,666
|
|
|
4,993
|
|
|
4,928
|
|
Sales and marketing
|
|
306
|
|
|
389
|
|
|
925
|
|
|
1,182
|
|
General and administrative
|
|
531
|
|
|
563
|
|
|
1,539
|
|
|
1,856
|
|
|
SUPER MICRO COMPUTER, INC |
CONDENSED CONSOLIDATED CASH FLOW STATEMENTS
|
(In thousands)
|
(Unaudited)
|
|
|
Nine Months Ended March 31,
|
|
|
2014
|
|
2013
|
OPERATING ACTIVITIES:
|
|
|
|
|
Net income
|
|
$
|
37,608
|
|
|
$
|
12,853
|
|
Reconciliation of net income to net cash provided by operating
activities:
|
|
|
|
|
Depreciation and amortization
|
|
4,590
|
|
|
5,900
|
|
Stock-based compensation expense
|
|
8,183
|
|
|
8,662
|
|
Excess tax benefits from stock-based compensation
|
|
(2,719
|
)
|
|
(844
|
)
|
Allowance for doubtful accounts
|
|
1,384
|
|
|
696
|
|
Provision for inventory
|
|
2,427
|
|
|
8,744
|
|
Exchange gain
|
|
(334
|
)
|
|
(158
|
)
|
Deferred income taxes
|
|
(3,847
|
)
|
|
(6,205
|
)
|
Changes in operating assets and liabilities:
|
|
|
|
|
Accounts receivable, net
|
|
(34,072
|
)
|
|
(21,021
|
)
|
Inventory
|
|
(43,346
|
)
|
|
10,514
|
|
Prepaid expenses and other assets
|
|
1,417
|
|
|
169
|
|
Accounts payable
|
|
32,492
|
|
|
(9,602
|
)
|
Income taxes payable, net
|
|
9,879
|
|
|
1,943
|
|
Accrued liabilities
|
|
(1,767
|
)
|
|
3,268
|
|
Other long-term liabilities
|
|
579
|
|
|
(1,350
|
)
|
Net cash provided by operating activities
|
|
12,474
|
|
|
13,569
|
|
|
|
|
|
|
INVESTING ACTIVITIES:
|
|
|
|
|
Purchases of property, plant and equipment
|
|
(36,779
|
)
|
|
(4,346
|
)
|
Restricted cash
|
|
401
|
|
|
(407
|
)
|
Proceeds from investments
|
|
—
|
|
|
300
|
|
Net cash used in investing activities
|
|
(36,378
|
)
|
|
(4,453
|
)
|
|
|
|
|
|
FINANCING ACTIVITIES:
|
|
|
|
|
Proceeds from debt
|
|
17,354
|
|
|
20,641
|
|
Repayment of debt
|
|
(5,620
|
)
|
|
(17,373
|
)
|
Proceeds from exercise of stock options
|
|
19,154
|
|
|
1,446
|
|
Excess tax benefits from stock-based compensation
|
|
2,719
|
|
|
844
|
|
Payment of obligations under capital leases
|
|
(26
|
)
|
|
(31
|
)
|
Payments under receivable financing arrangements
|
|
(8
|
)
|
|
(586
|
)
|
Contribution from noncontrolling interests
|
|
—
|
|
|
168
|
|
Minimum tax withholding paid on behalf of an officer for restricted
stock awards
|
|
(651
|
)
|
|
(1,022
|
)
|
Net cash provided by financing activities
|
|
32,922
|
|
|
4,087
|
|
Effect of exchange rate fluctuations on cash
|
|
(342
|
)
|
|
(55
|
)
|
Net increase in cash and cash equivalents
|
|
8,676
|
|
|
13,148
|
|
Cash and cash equivalents at beginning of period
|
|
93,038
|
|
|
80,826
|
|
Cash and cash equivalents at end of period
|
|
$
|
101,714
|
|
|
$
|
93,974
|
|
Supplemental disclosure of cash flow information:
|
|
|
|
|
Cash paid for interest
|
|
$
|
533
|
|
|
$
|
551
|
|
Cash paid for taxes, net of refunds
|
|
$
|
8,940
|
|
|
$
|
6,793
|
|
Non-cash investing and financing activities:
|
|
|
|
|
Accrued costs for property, plant and equipment purchases
|
|
$
|
2,055
|
|
|
$
|
180
|
|
|
SUPER MICRO COMPUTER, INC |
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
|
(In thousands, except per share amounts)
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
|
2014
|
|
2013
|
|
2014
|
|
2013
|
GAAP GROSS PROFIT
|
|
$
|
57,264
|
|
|
$
|
38,893
|
|
|
$
|
159,148
|
|
|
$
|
114,030
|
|
Add back stock-based compensation (c)
|
|
246
|
|
|
232
|
|
|
726
|
|
|
696
|
|
Non-GAAP GROSS PROFIT
|
|
$
|
57,510
|
|
|
$
|
39,125
|
|
|
$
|
159,874
|
|
|
$
|
114,726
|
|
|
|
|
|
|
|
|
|
|
GAAP GROSS MARGIN
|
|
15.3
|
%
|
|
14.0
|
%
|
|
15.3
|
%
|
|
13.6
|
%
|
Add back stock-based compensation (c)
|
|
0.1
|
%
|
|
0.1
|
%
|
|
0.1
|
%
|
|
0.1
|
%
|
Non-GAAP GROSS MARGIN
|
|
15.4
|
%
|
|
14.1
|
%
|
|
15.4
|
%
|
|
13.7
|
%
|
|
|
|
|
|
|
|
|
|
GAAP INCOME FROM OPERATIONS
|
|
$
|
21,472
|
|
|
$
|
5,440
|
|
|
$
|
53,719
|
|
|
$
|
14,730
|
|
Add back stock-based compensation (c)
|
|
2,806
|
|
|
2,850
|
|
|
8,183
|
|
|
8,662
|
|
Non-GAAP INCOME FROM OPERATIONS
|
|
$
|
24,278
|
|
|
$
|
8,290
|
|
|
$
|
61,902
|
|
|
$
|
23,392
|
|
|
|
|
|
|
|
|
|
|
GAAP NET INCOME
|
|
$
|
16,574
|
|
|
$
|
7,040
|
|
|
$
|
37,608
|
|
|
$
|
12,853
|
|
Add back stock-based compensation (c)
|
|
2,806
|
|
|
2,850
|
|
|
8,183
|
|
|
8,662
|
|
Add back adjustments to tax benefit (provision) (d)
|
|
(1,619
|
)
|
|
139
|
|
|
(2,272
|
)
|
|
(607
|
)
|
Non-GAAP NET INCOME
|
|
$
|
17,761
|
|
|
$
|
10,029
|
|
|
$
|
43,519
|
|
|
$
|
20,908
|
|
|
|
|
|
|
|
|
|
|
GAAP NET INCOME PER COMMON SHARE - BASIC (a)
|
|
$
|
0.38
|
|
|
$
|
0.17
|
|
|
$
|
0.87
|
|
|
$
|
0.31
|
|
Add back stock-based compensation and adjustments to tax provision
(c) (d)
|
|
0.02
|
|
|
0.07
|
|
|
0.14
|
|
|
0.19
|
|
Non-GAAP NET INCOME PER COMMON SHARE - BASIC (e)
|
|
$
|
0.40
|
|
|
$
|
0.24
|
|
|
$
|
1.01
|
|
|
$
|
0.50
|
|
|
|
|
|
|
|
|
|
|
GAAP NET INCOME PER COMMON SHARE - DILUTED (b)
|
|
$
|
0.35
|
|
|
$
|
0.16
|
|
|
$
|
0.82
|
|
|
$
|
0.29
|
|
Add back stock-based compensation and adjustments to tax provision
(c) (d)
|
|
0.02
|
|
|
0.07
|
|
|
0.12
|
|
|
0.18
|
|
Non-GAAP NET INCOME PER COMMON SHARE - DILUTED (f)
|
|
$
|
0.37
|
|
|
$
|
0.23
|
|
|
$
|
0.94
|
|
|
$
|
0.47
|
|
|
|
|
|
|
|
|
|
|
WEIGHTED-AVERAGE SHARES USED IN COMPUTING NET INCOME PER COMMON SHARE
|
|
|
|
|
|
|
|
|
BASIC -GAAP (g)
|
|
43,992
|
|
|
42,147
|
|
|
43,128
|
|
|
41,901
|
|
BASIC - Non-GAAP (h)
|
|
43,996
|
|
|
42,330
|
|
|
43,167
|
|
|
42,121
|
|
|
|
|
|
|
|
|
|
|
DILUTED - GAAP (g)
|
|
47,424
|
|
|
44,148
|
|
|
45,857
|
|
|
43,921
|
|
DILUTED - Non-GAAP (h)
|
|
48,103
|
|
|
44,498
|
|
|
46,403
|
|
|
44,279
|
|
(a) Approximately $1,000 and $34,000 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, 2014, respectively, and approximately $30,000 and
$67,000 for the three and nine months ended March 31, 2013, respectively.
(b) Approximately $1,000 and $32,000 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, 2014, respectively, and approximately $29,000 and
$64,000 for the three and nine months ended March 31, 2013, respectively.
(c) Amortization of ASC Topic 718 stock-based compensation for the three
and nine months ended March 31, 2014 and 2013.
(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 26.4% and
29.2% for the three and nine months ended March 31, 2014, respectively,
and (23.1)% and 9.0% for the three and nine months ended March 31, 2013,
respectively.
(e) Approximately $1,000 and $39,000 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, 2014, respectively, and approximately $43,000 and
$109,000 for the three and nine months ended March 31, 2013,
respectively.
(f) Approximately $1,000 and $36,000 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, 2014, respectively, and approximately $41,000 and
$104,000 for the three and nine months ended March 31, 2013,
respectively.
(g) 3,500 and 38,784 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, 2014,
respectively. 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.
(h) 3,500 and 38,784 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, 2014,
respectively. 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.
SMCI-F
Super Micro Computer, Inc.
Howard Hideshima, 408-503-8000
Chief
Financial Officer
ir@supermicro.com
Perry
G. Hayes
SVP, Investor Relations
ir@supermicro.com
Source: Super Micro Computer, Inc.
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