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Nov 27, 2020
Penguin Solutions Q1 2021 Earnings Report
Reported financial results for the first quarter fiscal 2021.
Key Takeaways
SMART Global Holdings reported a 7.2% increase in net sales compared to the year-ago quarter, reaching $291.7 million. GAAP net income was $2.0 million, or $0.08 per share, while non-GAAP net income reached $19.6 million, or $0.78 per share.
Net sales increased by 7.2% year-over-year, reaching $291.7 million.
GAAP net income was $2.0 million, or $0.08 per share.
Non-GAAP net income was $19.6 million, or $0.78 per share, a 46.4% and 41.8% increase year-over-year, respectively.
Adjusted EBITDA was $29.5 million, a 25.4% increase compared to the year-ago quarter.
Forward Guidance
Management expects for the second quarter of fiscal 2021 ending February 26, 2021 net sales between $285 to $305 million and Non-GAAP diluted EPS of $0.80 ± $0.05.
Positive Outlook
- Net Sales $285 to $305 million
- Gross Margin - GAAP / Non-GAAP 18% to 20%
- Diluted EPS - GAAP $0.38 ± $0.05
- Share-based compensation per share $0.20
- Diluted EPS - Non-GAAP $0.80 ± $0.05
Challenges Ahead
- Intangible amortization per share $0.14
- Convertible debt discount OID and fees per share $0.08
- Expected diluted share count 25.6 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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