What: Shares of Super Micro Computer (OTC:SMCI) have jumped today, up by 14% as of 11 a.m. ET, after the company reported fiscal second-quarter earnings results.
So what: Revenue in the second quarter rose 27% to $639 million, which resulted in net income of $34.7 million, or $0.67 per share. On an adjusted basis, non-GAAP net income was $38 million, or $0.73 per share. Server offerings comprised over 70% of revenue during the quarter, a higher concentration than a year ago.
Now what: The company currently has $172.6 million in cash and equivalents, and generated $71.7 million in free cash flow in the latter half of 2015. Guidance was also solid, with third-quarter revenue expected in the range of $530 million to $580 million. Adjusted earnings per share should be $0.43 to $0.53. It was a record quarter, according to CEO Charles Liang, and storage solutions also helped drive growth.