Super Micro Computer, Inc. Q1 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Q1 FY2021 revenue was $762 million.
    • Down 5% year-over-year (vs. Q1 FY2020).
    • Down 15% sequentially (vs. Q4 FY2020), consistent with normal seasonality.
  • Non-GAAP EPS was $0.55.
    • Down from $0.68 in Q1 FY2020.
    • Also down from $0.68 in Q4 FY2020.
  • Company delivered results above midpoint of guidance; COVID-19 continued to impact operations, particularly in the U.S. and EMEA.
  • Strong operational expansion in Taiwan, with significantly lower costs than the U.S., boosting productivity and capacity.

Business Drivers and Strategic Updates

  • Supermicro highlighted four major growth drivers:
    • Enterprise and channel business.
    • Large datacenter, public cloud, and OEM customers.
    • 5G, Edge, and Telco business.
    • Software and global services.
  • New enterprise, cloud, and telco customer wins across EMEA, APAC, and the U.S.
  • Company emphasized a multiyear recovery and growth trajectory following:
    • 2017 10-K filing delays and subsequent NASDAQ delisting.
    • COVID-related enterprise demand softness.

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Operator: Good day, ladies and gentlemen, and thank you for standing by. Welcome to the Super Micro Computer, Inc. First Quarter Fiscal 2021 Financial Results Conference Call. A press release issued earlier today is available on Super Micro's website at www.supermicro.com. During the presentation, all participants will be in listen-only mode. Afterwards, securities analysts will be invited to participate in the question-and-answer session. The entire cal is open to all participants on a listen-only basis. As a reminder, this call is being recorded Tuesday, November 3, 2020. A replay of the call will be accessible via webcast at ir.supermicro.com. A replay of the webcast will be available online for 12 months following the call. An investor presentation and a transcript of management commentary related to Q4 results will also be posted at, ir.supermicro.com. With us today are Charles Liang, Chairman and Chief Executive Officer; Kevin Bauer, Senior Vice President, and Chief Financial Officer; and James Kisner, Vice President of Investor Relations. I would now like to turn the conference over to Mr. Kisner. Mr. Kisner, please go ahead, sir. James Kisner: Good afternoon and thank you for attending Supermicro's call to discuss financial results for the first quarter of fiscal 2021, which ended September 30, 2020. By now, you should have received a copy of the news release from the Company that was distributed at the close of regular trading and is available on the Company's websit

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