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Feb 26, 2021
Penguin Solutions Q2 2021 Earnings Report
Reported financial results for the second quarter fiscal 2021.
Key Takeaways
SMART Global Holdings reported second quarter fiscal 2021 results with net sales of $304.0 million, up 11.8% compared to the year ago quarter and non-GAAP earnings per share of $0.87, up 67.3% compared to the year ago quarter.
Net sales of $304.0 million, up 11.8% compared to year ago quarter.
GAAP net income of $5.8 million, or $0.23 per share, compared to GAAP net loss of $9.7 million or ($0.41) per share in the year ago quarter.
Non-GAAP net income of $21.9 million or $0.87 per share, up 71.1% and 67.3%, respectively, compared to the year ago quarter.
Adjusted EBITDA of $31.0 million, up 38.9% compared to the year ago quarter.
Forward Guidance
The following statements are based upon management's current expectations for the third quarter of fiscal 2021 ending May 28, 2021.
Positive Outlook
- Net Sales $400 to $430 million
- Gross Margin - GAAP / Non-GAAP 19% to 21%
- Diluted EPS - GAAP $0.64 ± $0.10
- Share-based compensation per share $0.24
- Diluted EPS - Non-GAAP $1.10 ± $0.10
Challenges Ahead
- These statements are forward-looking and actual results may differ materially.
- SMART undertakes no obligation to update these statements.
- Intangible amortization per share $0.14
- Convertible debt discount OID and fees per share $0.08
- Expected diluted share count - GAAP 27.0 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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