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SMART Global Holdings Reports First Quarter Fiscal 2021 Financial Results

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SMART Global Holdings, Inc. (“SMART” or the “Company”) (NASDAQ: SGH), today reported financial results for the first quarter fiscal 2021 ended November 27, 2020.

First Quarter Fiscal 2021 Highlights:

  • Net sales of $291.7 million, 7.2% higher than the year ago quarter.
  • GAAP net income of $2.0 million, or $0.08 per share, compared with $0.2 million or $0.01 per share in the year ago quarter.
  • Non-GAAP net income of $19.6 million or $0.78 per share, 46.4% and 41.8% higher than the year ago quarter, respectively.
  • Adjusted EBITDA of $29.5 million, 25.4% higher than the year ago quarter.

“I am proud of the results our team delivered in the first quarter of fiscal 2021 during these challenging times. Total revenue grew by 7% when compared to the first quarter a year ago, and non-GAAP earnings per share of $0.78 exceeded the high end of our guidance range,” commented Mark Adams, President and CEO.

“With our continuing focus on delivering differentiated solutions to our valued customers and driving operational excellence across each of our businesses, we remain optimistic about the future and our ability to deliver strong returns for our shareholders,” concluded Mr. Adams.

Quarterly Financial Results  

GAAP (1)

 

 

Non-GAAP (2)

(In millions, except per share amounts)  

Q1 FY21

Q4 FY20

Q1 FY20

 

Q1 FY21

Q4 FY20

Q1 FY20

Net sales  

$

291.7

$

297.0

$

272.0

 

$

291.7

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SMART Global Holdings, Inc.

NASDAQ:SGH

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1.07B
50.81M
1.87%
105.98%
7.71%
Semiconductor and Related Device Manufacturing
Manufacturing
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United States of America
NEWARK

About SGH

about smart modular technologies smart modular technologies is a global leader in specialty memory, storage and hybrid solutions serving the electronics industry for over 25 years. smart modular delivers solutions to a broad customer base, including oems that compete in the computing, networking, communications, storage, mobile and industrial markets. focused on providing extensive customer-specific design capabilities, technical support and value-added testing services, smart collaborates closely with their global oem customers throughout their design process and across multiple projects to create memory, storage and hybrid solutions for demanding applications with differentiated requirements. taking innovations from the design stage through manufacturing and supply, smart modular has developed a comprehensive product line comprised of dram, flash and hybrid memory technologies across various form factors. smart modular is part of the smart family of global companies. see http://www.s