Supermicro Announces 4th Quarter 2014 Financial Results

August 5, 2014

SAN JOSE, Calif., Aug. 5 — Super Micro Computer, Inc., a leader in application optimized, high performance server solutions, today announced fourth quarter and full-year financial results for the fiscal year ended June 30, 2014.

Fiscal 4th Quarter Highlights

  • Quarterly net sales of $428.1 million, up 14.5% from the third quarter of fiscal year 2014 and up 32.8% from the same quarter of last year.
  • GAAP net income before income tax provision of $26.3 million, up 23.5% from the third quarter of fiscal year 2014 and up 114.3% from the same quarter of last year.
  • GAAP net income of $16.5 million, down 0.2% from the third quarter of fiscal year 2014 and up 96.4% from the same quarter of last year.
  • GAAP gross margin of 15.5%, up from 15.3% in the third quarter of fiscal year 2014 and up from 14.3% in the same quarter of last year.
  • Server solutions accounted for 55.2% of net sales compared with 50.1% in the third quarter of fiscal year 2014 and 47.4% in the same quarter of last year.

Net sales for the fourth quarter ended June 30, 2014 totaled $428.1 million, up 14.5% from $373.8 million in the third quarter of fiscal year 2014. No customer accounted for more than 10% of net sales during the quarter ended June 30, 2014.

GAAP net income for the fourth quarter of fiscal year 2014 was $16.5 million or $0.34 per diluted share, an increase of 96.4% from the net income of $8.4 million, or $0.19 per diluted share in the same period a year ago. Included in net income for the quarter is $2.9 million of stock-based compensation expense (pre-tax). Excluding this item and the related tax effect, non-GAAP net income for the fourth quarter was $19.4 million, or $0.40 per diluted share, compared to non-GAAP net income of $11.3 million, or $0.26 per diluted share, in the same quarter of the prior year. On a sequential basis, non-GAAP net income increased from the third quarter of fiscal year 2014 by $1.6 million or $0.03 per diluted share.

GAAP gross margin for the fourth quarter was 15.5% compared to 14.3% in the same period a year ago. Non-GAAP gross margin for the fourth quarter was 15.6% compared to 14.4% in the same period a year ago. GAAP gross margin and Non-GAAP gross margin for the third quarter of fiscal year 2014 were 15.3% and 15.4%, respectively.

The GAAP income tax provision was $9.8 million or 37.2% of income before tax provision compared to $3.9 million or 31.4% in the same period a year ago and $4.8 million or 22.3% in the third quarter of fiscal year 2014. The increase from prior year was due to the reinstatement of the R&D tax credit in that quarter. The increase from prior quarter was due to a lower deduction for stock-based compensation expense and an increase in taxable income in the current quarter.

The Company’s cash and cash equivalents and short and long term investments at June 30, 2014 were $99.6 million compared to $95.7 million at June 30, 2013. Free cash flow for the year ended June 30, 2014 was $(34.0) million primarily due to the purchase of real property in San Jose, California for $30.1 million.

Fiscal Year 2014 Summary

Net sales for the fiscal year ended June 30, 2014 were $1,467.2 million, up 26.2% from $1,162.6 million for the fiscal year ended June 30, 2013. GAAP net income for fiscal year 2014 increased to $54.2 million, or $1.16 per diluted share, an increase of 154.5% from $21.3 million, or $0.48 per diluted share, for fiscal year 2013. Excluding $11.1 million of stock based-compensation expense and related tax effect, non-GAAP net income for the fiscal year 2014 was $62.9 million or $1.34 per diluted share, an increase of 95.4% compared to $32.2 million or $0.73 per diluted share for fiscal year 2013.

Business Outlook & Management Commentary

The Company expects net sales of $395 million to $435 million for the first quarter of fiscal year 2015 ending September 30, 2014. The Company expects non-GAAP earnings per diluted share of approximately $0.36 to $0.42 for the first quarter.

“In the fourth quarter, we achieved $428.1 million revenue or 32.8% growth over last year which marked the third straight quarter of record revenues and keeps us on a path to reach our goal of achieving $2 billion annual run rate in the coming fiscal year 2015. Revenue growth was driven by higher sales into virtualization and cloud applications to internet data centers totaling 17.8% of fourth quarter revenue or 150% higher than last year which helped us to achieve record revenue for system sales of 55.2% of revenue. With this strong revenue growth combined with operating expense leverage, we achieved record profits,” said Charles Liang, Chairman and CEO. “We are looking forward to the new fiscal year and we have been preparing to be a strong market leader in the upcoming technology refresh cycle related to the Intel Grantley (Haswell new processor) launch. We have created new X10 based product lines optimized for Grantley which includes our new Ultra server architecture, our new Data Center Optimized line, and our TwinPro line to just name a few of the many products that will lead the industry in innovation and time to market.”

It is currently expected that the outlook will not be updated until the Company’s next quarterly earnings announcement, notwithstanding subsequent developments. However, the Company may update the outlook or any portion thereof at any time. Such updates will take place only by way of a news release or other broadly disseminated disclosure available to all interested parties in accordance with Regulation FD.

Conference Call Information

Super Micro Computer will discuss these financial results in a conference call at 2:00 p.m. PT, today. To participate in the conference call, please call 1-888-329-8877 (international callers dial 1-719-457-2661) 10 minutes prior. A recording of the conference call will be available until 11:59 pm ET on Tuesday, August 19, 2014 by dialing 1-877-870-5176 (international callers dial 1-858-384-5517) and entering replay PIN 6112672. The live web cast and recording of the call will be available on the Investor Relations section at www.supermicro.com two hours after the conference call conclusion. They will remain available until the Company’s next earnings call.

About Super Micro Computer, Inc.

Supermicro, a global leader in high-performance, high-efficiency server technology and innovation is a premier provider of end-to-end green computing solutions for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermicro’s advanced Server Building Block Solutions offer a vast array of components for building energy-efficient, application-optimized, computing solutions. Architecture innovations include Twin, FatTwin, MicroCloud, MicroBlade, SuperBlade, Double-sided Storage, Battery Backup Power (BBP) modules and WIO/UIO. Products include servers, blades, GPU systems, workstations, motherboards, chassis, power supplies, storage, networking, server management software and SuperRack cabinets/accessories delivering unrivaled performance and value.

Source: Super Micro Computer, Inc.

Subscribe to HPCwire's Weekly Update!

Be the most informed person in the room! Stay ahead of the tech trends with industy updates delivered to you every week!

GlobalFoundries Puts Wind in AMD’s Sails with 12nm FinFET

September 24, 2017

From its annual tech conference last week (Sept. 13), where GlobalFoundries welcomed more than 600 semiconductor professionals (reaching the Santa Clara venue’s max capacity and doubling 2016 attendee numbers), the one Read more…

By Tiffany Trader

Machine Learning at HPC User Forum: Drilling into Specific Use Cases

September 22, 2017

The 66th HPC User Forum held September 5-7, in Milwaukee, Wisconsin, at the elegant and historic Pfister Hotel, highlighting the 1893 Victorian décor and art of “The Grand Hotel Of The West,” contrasted nicely with Read more…

By Arno Kolster

Google Cloud Makes Good on Promise to Add Nvidia P100 GPUs

September 21, 2017

Google has taken down the notice on its cloud platform website that says Nvidia Tesla P100s are “coming soon.” That's because the search giant has announced the beta launch of the high-end P100 Nvidia Tesla GPUs on t Read more…

By George Leopold

HPE Extreme Performance Solutions

HPE Prepares Customers for Success with the HPC Software Portfolio

High performance computing (HPC) software is key to harnessing the full power of HPC environments. Development and management tools enable IT departments to streamline installation and maintenance of their systems as well as create, optimize, and run their HPC applications. Read more…

Cray Wins $48M Supercomputer Contract from KISTI

September 21, 2017

It was a good day for Cray which won a $48 million contract from the Korea Institute of Science and Technology Information (KISTI) for a 128-rack CS500 cluster supercomputer. The new system, equipped with Intel Xeon Scal Read more…

By John Russell

GlobalFoundries Puts Wind in AMD’s Sails with 12nm FinFET

September 24, 2017

From its annual tech conference last week (Sept. 13), where GlobalFoundries welcomed more than 600 semiconductor professionals (reaching the Santa Clara venue Read more…

By Tiffany Trader

Machine Learning at HPC User Forum: Drilling into Specific Use Cases

September 22, 2017

The 66th HPC User Forum held September 5-7, in Milwaukee, Wisconsin, at the elegant and historic Pfister Hotel, highlighting the 1893 Victorian décor and art o Read more…

By Arno Kolster

Stanford University and UberCloud Achieve Breakthrough in Living Heart Simulations

September 21, 2017

Cardiac arrhythmia can be an undesirable and potentially lethal side effect of drugs. During this condition, the electrical activity of the heart turns chaotic, Read more…

By Wolfgang Gentzsch, UberCloud, and Francisco Sahli, Stanford University

PNNL’s Center for Advanced Tech Evaluation Seeks Wider HPC Community Ties

September 21, 2017

Two years ago the Department of Energy established the Center for Advanced Technology Evaluation (CENATE) at Pacific Northwest National Laboratory (PNNL). CENAT Read more…

By John Russell

Exascale Computing Project Names Doug Kothe as Director

September 20, 2017

The Department of Energy’s Exascale Computing Project (ECP) has named Doug Kothe as its new director effective October 1. He replaces Paul Messina, who is stepping down after two years to return to Argonne National Laboratory. Kothe is a 32-year veteran of DOE’s National Laboratory System. Read more…

Takeaways from the Milwaukee HPC User Forum

September 19, 2017

Milwaukee’s elegant Pfister Hotel hosted approximately 100 attendees for the 66th HPC User Forum (September 5-7, 2017). In the original home city of Pabst Blu Read more…

By Merle Giles

Kathy Yelick Charts the Promise and Progress of Exascale Science

September 15, 2017

On Friday, Sept. 8, Kathy Yelick of Lawrence Berkeley National Laboratory and the University of California, Berkeley, delivered the keynote address on “Breakthrough Science at the Exascale” at the ACM Europe Conference in Barcelona. In conjunction with her presentation, Yelick agreed to a short Q&A discussion with HPCwire. Read more…

By Tiffany Trader

DARPA Pledges Another $300 Million for Post-Moore’s Readiness

September 14, 2017

The Defense Advanced Research Projects Agency (DARPA) launched a giant funding effort to ensure the United States can sustain the pace of electronic innovation vital to both a flourishing economy and a secure military. Under the banner of the Electronics Resurgence Initiative (ERI), some $500-$800 million will be invested in post-Moore’s Law technologies. Read more…

By Tiffany Trader

How ‘Knights Mill’ Gets Its Deep Learning Flops

June 22, 2017

Intel, the subject of much speculation regarding the delayed, rewritten or potentially canceled “Aurora” contract (the Argonne Lab part of the CORAL “ Read more…

By Tiffany Trader

Reinders: “AVX-512 May Be a Hidden Gem” in Intel Xeon Scalable Processors

June 29, 2017

Imagine if we could use vector processing on something other than just floating point problems.  Today, GPUs and CPUs work tirelessly to accelerate algorithms Read more…

By James Reinders

NERSC Scales Scientific Deep Learning to 15 Petaflops

August 28, 2017

A collaborative effort between Intel, NERSC and Stanford has delivered the first 15-petaflops deep learning software running on HPC platforms and is, according Read more…

By Rob Farber

Oracle Layoffs Reportedly Hit SPARC and Solaris Hard

September 7, 2017

Oracle’s latest layoffs have many wondering if this is the end of the line for the SPARC processor and Solaris OS development. As reported by multiple sources Read more…

By John Russell

Six Exascale PathForward Vendors Selected; DoE Providing $258M

June 15, 2017

The much-anticipated PathForward awards for hardware R&D in support of the Exascale Computing Project were announced today with six vendors selected – AMD Read more…

By John Russell

Top500 Results: Latest List Trends and What’s in Store

June 19, 2017

Greetings from Frankfurt and the 2017 International Supercomputing Conference where the latest Top500 list has just been revealed. Although there were no major Read more…

By Tiffany Trader

IBM Clears Path to 5nm with Silicon Nanosheets

June 5, 2017

Two years since announcing the industry’s first 7nm node test chip, IBM and its research alliance partners GlobalFoundries and Samsung have developed a proces Read more…

By Tiffany Trader

Nvidia Responds to Google TPU Benchmarking

April 10, 2017

Nvidia highlights strengths of its newest GPU silicon in response to Google's report on the performance and energy advantages of its custom tensor processor. Read more…

By Tiffany Trader

Leading Solution Providers

Graphcore Readies Launch of 16nm Colossus-IPU Chip

July 20, 2017

A second $30 million funding round for U.K. AI chip developer Graphcore sets up the company to go to market with its “intelligent processing unit” (IPU) in Read more…

By Tiffany Trader

Google Releases Deeplearn.js to Further Democratize Machine Learning

August 17, 2017

Spreading the use of machine learning tools is one of the goals of Google’s PAIR (People + AI Research) initiative, which was introduced in early July. Last w Read more…

By John Russell

Russian Researchers Claim First Quantum-Safe Blockchain

May 25, 2017

The Russian Quantum Center today announced it has overcome the threat of quantum cryptography by creating the first quantum-safe blockchain, securing cryptocurrencies like Bitcoin, along with classified government communications and other sensitive digital transfers. Read more…

By Doug Black

EU Funds 20 Million Euro ARM+FPGA Exascale Project

September 7, 2017

At the Barcelona Supercomputer Centre on Wednesday (Sept. 6), 16 partners gathered to launch the EuroEXA project, which invests €20 million over three-and-a-half years into exascale-focused research and development. Led by the Horizon 2020 program, EuroEXA picks up the banner of a triad of partner projects — ExaNeSt, EcoScale and ExaNoDe — building on their work... Read more…

By Tiffany Trader

Google Debuts TPU v2 and will Add to Google Cloud

May 25, 2017

Not long after stirring attention in the deep learning/AI community by revealing the details of its Tensor Processing Unit (TPU), Google last week announced the Read more…

By John Russell

Amazon Debuts New AMD-based GPU Instances for Graphics Acceleration

September 12, 2017

Last week Amazon Web Services (AWS) streaming service, AppStream 2.0, introduced a new GPU instance called Graphics Design intended to accelerate graphics. The Read more…

By John Russell

Cray Moves to Acquire the Seagate ClusterStor Line

July 28, 2017

This week Cray announced that it is picking up Seagate's ClusterStor HPC storage array business for an undisclosed sum. "In short we're effectively transitioning the bulk of the ClusterStor product line to Cray," said CEO Peter Ungaro. Read more…

By Tiffany Trader

IBM Advances Web-based Quantum Programming

September 5, 2017

IBM Research is pairing its Jupyter-based Data Science Experience notebook environment with its cloud-based quantum computer, IBM Q, in hopes of encouraging a new class of entrepreneurial user to solve intractable problems that even exceed the capabilities of the best AI systems. Read more…

By Alex Woodie

  • arrow
  • Click Here for More Headlines
  • arrow
Share This