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May 29, 2020
Penguin Solutions Q3 2020 Earnings Report
Reported financial results with revenue and gross profit growth, and a strong increase in non-GAAP earnings per share.
Key Takeaways
SMART Global Holdings reported a 19.4% increase in net sales compared to the year-ago quarter, reaching $281.3 million. GAAP net income was $0.8 million, or $0.03 per share, while non-GAAP net income was $17.1 million, or $0.70 per share. Adjusted EBITDA was $25.4 million, 32.5% higher than the year-ago quarter.
Net sales increased by 19.4% year-over-year to $281.3 million.
GAAP net income was $0.8 million, or $0.03 per share.
Non-GAAP net income was $17.1 million, or $0.70 per share.
Adjusted EBITDA increased by 32.5% year-over-year to $25.4 million.
Forward Guidance
For the fourth quarter of fiscal 2020, SMART Global Holdings expects net sales between $290 to $310 million, GAAP and Non-GAAP gross margin between 20% to 22%, GAAP diluted EPS of $0.34 ± $0.08, and Non-GAAP diluted EPS of $0.78 ± $0.08.
Positive Outlook
- Net Sales: $290 to $310 million
- Gross Margin (GAAP / Non-GAAP): 20% to 22%
- Diluted EPS (GAAP): $0.34 ± $0.08
- Diluted EPS (Non-GAAP): $0.78 ± $0.08
- Expected diluted share count: 24.5 million
Challenges Ahead
- Share-based compensation per share: $0.21
- Intangible amortization per share: $0.15
- Convertible debt discount OID and fees per share: $0.08
Historical Earnings Impact
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Avg. Return Before/After Earnings
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