Dec 18 2009
SMART Modular Technologies (WWH), Inc. ("SMART"
or the "Company") (NASDAQ: SMOD), a leading independent manufacturer of
memory modules and solid state storage products including SSDs, today
reported financial results for the first quarter of fiscal year 2010 ended
November 27, 2009.
First Quarter Fiscal 2010 Highlights:
-- Net sales of $123.1 million
-- Gross profit of $28.8 million
-- GAAP diluted EPS of $0.07
-- Non-GAAP diluted EPS of $0.08
-- Adjusted EBITDA of $15.0 million
Net sales for the first quarter of fiscal 2010 were $123.1 million,
compared to $99.8 million for the fourth quarter of fiscal 2009, and $140.8
million for the first quarter of fiscal 2009.
Gross profit for the first quarter of fiscal 2010 was $28.8 million,
compared to $21.3 million for the fourth quarter of fiscal 2009, and $25.8
million for the first quarter of fiscal 2009.
On a GAAP basis, net income for the first quarter of fiscal 2010 was $4.6
million, or $0.07 per diluted share, compared to a net loss of $0.3
million, or $0.00 per diluted share in the fourth quarter of fiscal 2009,
and a net loss of $6.9 million, or $0.11 per share in the first quarter of
fiscal 2009.
On a non-GAAP basis, net income was $5.4 million or $0.08 per diluted share
for the first quarter of fiscal 2010, compared to $3.1 million, or $0.05
per diluted share in the fourth quarter of fiscal 2009, and $3.0 million,
or $0.05 per diluted share in the first quarter of fiscal 2009.
Adjusted EBITDA for the first quarter of fiscal 2010 was $15.0 million,
compared to $9.9 million for the fourth quarter of fiscal 2009, and $10.3
million for the first quarter of fiscal 2009.
SOURCE: SMART Modular Technologies