SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 20, 2018--
Super Micro Computer, Inc. (NASDAQ:SMCI), a global leader in
high-performance, high-efficiency server, storage technology and green
computing, today announced that the Company received a notification
letter (the “Letter”) from Nasdaq stating that the Company is not in
compliance with Nasdaq listing rule 5250(c)(1), which requires timely
filing of reports with the U.S. Securities and Exchange Commission. The
Letter was sent as a result of the Company’s delay in filing its
Quarterly Report on Form 10-Q for the period ended December 31, 2017
(the “Q2 10-Q”) and its continued delay in filing its Annual Report on
Form 10-K for the fiscal year ended June 30, 2017 (the “Form 10-K”) and
the Quarterly Report on Form 10-Q for the quarter ended September 30,
2017 (the “Q1 10-Q”). The Company previously submitted a revised plan of
compliance to Nasdaq on November 29, 2017 (the “Plan”) with respect to
its delay in filing the Form 10-K and Q1 10-Q (the “Initial Delinquent
Filings”). Upon review of the Plan and in connection with this
additional delinquency, the Letter requires that the Company submit an
update to the Plan by February 28, 2018 (the “Revised Plan”).
The Letter has no immediate effect on the listing or trading of the
Company’s common stock on the Nasdaq Global Select Market. If the
Revised Plan is submitted and accepted, the Company could be granted up
to 180 days from the due date of the Initial Delinquent Filing, or March
13, 2018, to regain compliance. If Nasdaq does not accept the Company’s
plan, then the Company will have the opportunity to appeal that decision
to a Nasdaq hearings panel.
As previously announced, the Company has been unable to file the Form
10-K and the Q1 10-Q. The Audit Committee of the Company’s Board of
Directors has completed the previously disclosed investigation.
Additional time is required to analyze the impact, if any, of the
results of the investigation on the Company’s historical financial
statements, as well as to conduct additional reviews before the Company
will be able to finalize the Form 10-K. The Company is unable at this
time to provide a date as to when the Form 10-K will be filed or to
determine whether the Company’s historical financial statements will be
adjusted or, if so, the amount of any such adjustment(s) and what
periods any such adjustments may impact. The Company intends to file the
Q1 10-Q and Q2 10-Q promptly after filing the Form 10-K.
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, and the timing
of the filing of the Form 10-K, Q1 10-Q and Q2 10-Q. 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. 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.
About Super Micro Computer, Inc.
Supermicro®, 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, TwinPro,
FatTwin™, Ultra Series, 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, 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.
SMCI-F
View source version on businesswire.com: http://www.businesswire.com/news/home/20180220006710/en/
Source: Super Micro Computer, Inc.
Investor Relations Contact
Super Micro Computer, Inc.
Perry G.
Hayes, 408-895-6570
SVP, Investor Relations
PerryH@Supermicro.com