Super Micro Computer, Inc 8-K, filed Apr 2, 2020
Super Micro Computer, Inc. (SMCI)
8-K
2020-04-02
For: 2020-04-02
View Original
Added on
April 10, 2026
About this 8-K
Super Micro Computer, Inc filed this 8-K on April 2, 2020.
Items reported
- Item 2.02: Financial results
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 2, 2020
(Exact name of registrant specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
(Address of principal executive offices, including Zip Code)
Registrant’s telephone, including area code: (408 ) 503-8000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |
Securities registered or to be registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company | |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 2.02 | Results of Operations and Financial Condition |
The information contained in Item 7.01 is incorporated by reference into this Item 2.02.
Item 7.01 | Regulation FD Disclosure |
On April 2, 2020, Super Micro Computer, Inc. (the “Company”) issued a press release announcing preliminary financial information for the fiscal quarter ended March 31, 2020 and made available certain materials related thereto. A copy of the press release and the related materials are furnished as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K.
The information in, and the exhibits furnished pursuant to this report, including Exhibits 99.1 and 99.2, are being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and are not to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language contained in such filing, unless otherwise expressly stated in such filing.
Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits | ||
Exhibit Number | Description | |
99.1 | ||
99.2 | ||
104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SUPER MICRO COMPUTER, INC. | ||||||||
Date: April 2, 2020 | By: | /s/ Charles Liang | ||||||
President, Chief Executive Officer and Chairman of the Board (Principal Executive Officer) | ||||||||
Exhibit 99.1
Supermicro Provides Third Quarter of Fiscal 2020 Business Update
SAN JOSE, Calif. - April 2, 2020 (BUSINESS WIRE) -- Super Micro Computer, Inc. (Nasdaq: SMCI), a global leader in high-performance, high-efficiency server, storage technology and green computing, today provided preliminary information regarding its financial results for the third quarter of fiscal 2020 ended March 31, 2020.
The company 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.
“We have taken the requisite actions to protect the health and safety of our employees, partners, and community,” said Charles Liang, Chairman and Chief Executive Officer. “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. We remain excited about our product solutions targeting the Cloud, Artificial Intelligence, 5G / Edge, and the evolving needs of the Enterprise. I want to thank our loyal employees, partners and customers during this challenging time.”
Cautionary Statement Regarding Forward Looking Statements
Statements contained in this press release that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may relate to, among other things, the guidance for the Company’s third quarter of fiscal year 2020, which ended March 31, 2020. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from those anticipated, including: (i) the global COVID-19 pandemic continues to present significant uncertainties for all parts of our business including our supply chain, our production operations and customer demand, (ii) our quarterly operating results may fluctuate, which could cause rapid declines in our stock price, (iii) as we increasingly target larger customers and larger sales opportunities, our customer base may become more concentrated, our cost of sales may increase, our margins may be lower and our sales may be less predictable, (iv) if we fail to meet publicly announced financial guidance or other expectations about our business, our stock could decline in value, (v) the average sales prices for our server solutions could decline if customers do not continue to purchase our latest generation products or additional components, and (vi) adverse economic conditions may harm our business. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in such filings, particularly our Annual Report on Form 10-K for our fiscal year ended June 30, 2019 and on Form 10-Q for our fiscal quarter ended December 31, 2019.
About Super Micro Computer, Inc.
Supermicro (Nasdaq: SMCI), the leading innovator in high-performance, high-efficiency server technology is 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.
Supermicro, Server Building Block Solutions, and We Keep IT Green are trademarks and/or registered trademarks of Super Micro Computer, Inc.
All other brands, names and trademarks are the property of their respective owners.
Investor Relations Contacts
Perry G. Hayes, SVP, Investor Relations
(408) 895-6570
James Kisner, Investor Relations
(669) 284-1259
email: ir@supermicro.com
FISCAL 3Q 2020 BUSINESS UPDATE April 2, 2020 Better Faster Greener™ © 2020 Supermicro
DISCLOSURES: FORWARD-LOOKING STATEMENTS Statements contained in this press release that are not historical fact may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements may relate to, among other things, the guidance for the Company’s third quarter of fiscal year 2020, which ended March 31, 2020. Such forward-looking statements do not constitute guarantees of future performance and are subject to a variety of risks and uncertainties that could cause our actual results to differ materially from those anticipated, including: (i) the global COVID-19 pandemic continues to present significant uncertainties to all parts of the company’s business including our supply chain, our production operations and potentially customer demand, (ii) our quarterly operating results may fluctuate, which could cause rapid declines in our stock price, (iii) as we increasingly target larger customers and larger sales opportunities, our customer base may become more concentrated, our cost of sales may increase, our margins may be lower and our sales may be less predictable, (iv) if we fail to meet publicly announced financial guidance or other expectations about our business, our stock could decline in value, (v) the average sales prices for our server solutions could decline if customers do not continue to purchase our latest generation products or additional components, and (vi) adverse economic conditions may harm our business. Additional factors that could cause actual results to differ materially from those projected or suggested in any forward-looking statements are contained in our filings with the Securities and Exchange Commission, including those factors discussed under the caption "Risk Factors" in such filings, particularly our Annual Report on Form 10-K for our fiscal year ended June 30, 2019 and on Form 10-Q for our fiscal quarter ended December 31, 2019. 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. 2
F3Q20 UPDATE Updated Fiscal 3Q Revenue Range • Anticipate revenue in a range of $755M - $785M, previous guidance range was $770M - $830M • Disruptions related to the spread of COVID-19 Dynamic Business Environment • Acted quickly to implement safety measures across all locations and zones, including social distancing, work-from- home, mandatory use of masks, and an aggressive quarantine policy • Global supply chains and logistics have been stressed since January and remain dynamic • Global operations continue at lower staffing levels, shelter-in-place order has had a continuing impact Expense Controls • Implemented strict controls for hiring and curtailed non-essential travel and other expenses • Long-term capacity investments continue with a greater focus on Taiwan and moderation in San Jose Ample Liquidity • Approximately $285 million in net cash and equivalents as of March 31 • Approximately $200 million in undrawn borrowing capacity on credit facility 3