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What: Shares of server solution provider Super Micro Computer (Nasdaq: SMCI) are whizzing higher today by as much as 15% after the company reported first-quarter earnings last night.

So what: First-quarter revenue totaled up to $247.9 million and earnings per share came in at $0.24. The results were mostly on target with the $247.8 million in sales and $0.24 earnings per share that analysts were looking for.

Now what: Next quarter, the company sees revenue in the ballpark of $260 million-$280 million, with earnings per share in the range of $0.27-$0.33. Consensus estimates call for revenue of $272 million and earnings of $0.30 per share in the second quarter. Super Micro Computer CEO Charles Liang described the quarter as further developing its foundation as the company prepares to transition to Intel's newest Sandy Bridge processors and improving production capacity and logistics as its Taiwan facility approaches completion.

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