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Aug 28, 2020
Penguin Solutions Q4 2020 Earnings Report
SMART Global Holdings reported strong Q4 2020 financial results, with revenue growth driven by Specialty Compute and Storage Solutions and Brazil businesses.
Key Takeaways
SMART Global Holdings reported Q4 2020 financial results with net sales of $297.0 million, a 6.7% increase year-over-year. GAAP net income was $7.5 million, or $0.30 per share, while non-GAAP net income was $20.4 million, or $0.82 per share. The company's strong balance sheet positions it well for future growth and diversification.
Net sales increased by 6.7% year-over-year to $297.0 million.
GAAP net income was $7.5 million, or $0.30 per share, representing a 33.8% increase year-over-year.
Non-GAAP net income reached $20.4 million, or $0.82 per share, a 72.2% increase year-over-year.
Adjusted EBITDA was $33.0 million, 30.6% higher than the year ago quarter.
Forward Guidance
SMART Global Holdings expects for the first quarter of fiscal 2021 ending November 27, 2020 net Sales of $280 to $300 million, Diluted EPS - GAAP $0.28 ± $0.05 and Diluted EPS - Non-GAAP $0.70 ± $0.05.
Positive Outlook
- Net Sales $280 to $300 million
- Gross Margin - GAAP / Non-GAAP 18% to 19%
- Diluted EPS - GAAP $0.28 ± $0.05
- Diluted EPS - Non-GAAP $0.70 ± $0.05
- Expected diluted share count 25.0 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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