Super Micro Hikes on Q3 Guidance

Super Micro Computer, Inc. (NASDAQ:SMCI) lowered its preliminary Q3 sales guidance from $770 million-$830 million to $755 million-$785 million. The company said it had $285 million in net cash and equivalents as of March 31.

The San Jose-based company reported Friday now anticipates that it will report revenue for its third quarter of fiscal 2020 in the range of $755 million to $785 million. The company’s previous guidance range was $770 million to $830 million.

As of March 31, 2020, Supermicro held approximately $285 million in net cash and equivalents.

CEO Charles Liang, “We have taken the requisite actions to protect the health and safety of our employees, partners, and community. While efforts to halt the spread of COVID-19 impacted our operations during the quarter, we continue to operate, with an abundance of caution and expanded safety precautions. Looking ahead, with a strong balance sheet and healthy levels of liquidity, we look to appropriately prioritize and capitalize on any opportunities leveraging our US, Taiwan, and other global facilities."

SMCI purports to be “a premier provider of advanced Server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/Big Data, HPC and Embedded Systems worldwide. Supermicro is committed to protecting the environment through its ‘We Keep IT Green®’ initiative and provides customers with the most energy-efficient, environmentally-friendly solutions available on the market.”

Shares in SMCI gained 29 cents, or 1.4%, to $21.18.

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