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Aug 27, 2021
Penguin Solutions Q4 2021 Earnings Report
SGH achieved record quarterly and annual revenue, demonstrating strong performance across all business segments.
Key Takeaways
SMART Global Holdings, Inc. reported a strong Q4 fiscal 2021 with net sales of $467.7 million, up 57% year-over-year, and GAAP EPS of $0.78, up 160% year-over-year. Non-GAAP EPS was $2.16, a 163% increase year-over-year. The company's GAAP gross margin improved to 25.2%, and non-GAAP gross margin reached 26.4%. Fiscal year 2021 was transformative for SGH, marked by accomplishments across its Intelligent Platform Solutions, Memory Solutions, and LED Solutions business lines.
Net sales reached $467.7 million, a 57% increase from the previous year's quarter.
GAAP gross margin improved to 25.2%, a 620 basis points increase year-over-year.
GAAP EPS increased to $0.78, reflecting a 160% growth compared to the year-ago quarter.
Non-GAAP EPS rose to $2.16, marking a 163% increase year-over-year.
Forward Guidance
SGH is providing the following financial outlook for its fourth quarter of fiscal 2021: Net Sales $440 to $480 million, Gross Margin 24% to 26%, Diluted EPS $1.20 ± $0.20, Diluted shares 27 million, Non-GAAP Outlook Net Sales $440 to $480 million, Gross Margin 25% to 27%, Diluted EPS $2.00 ± $0.20, Diluted shares 26 million
Positive Outlook
- Net Sales $440 to $480 million
- Gross Margin 24% to 26%
- Diluted EPS $1.20 ± $0.20
- Net Sales $440 to $480 million
- Gross Margin 25% to 27%
Challenges Ahead
- Share-based compensation and amortization of intangible assets - Cost of sales $6 million
- Share-based compensation and amortization of intangible assets - R&D and SG&A $11 million
- Convertible debt discount OID and fees, integration costs and other adjustments $3 million
- Diluted shares 27 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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