SMART Global Holdings, Inc. posted adjusted earnings of $0.80 per share for the quarter ended August, well above the Zacks Consensus Estimate of $0.65 per share. The figure, however, is lower than the year-ago quarter’s $1.08 per share.
The company’s revenues came in at $437.7 million, falling short of the Zacks Consensus Estimate by 0.53%. Revenues were $467.71 million a year ago.
Non-GAAP gross margins were 24.6% for the quarter.
Looking ahead, SMART expects net sales for the first quarter of fiscal 2023 in the range of approximately $425 million to $475 million, or approximately $450 million at the midpoint. It is projecting GAAP gross margin to be approximately 24.5% to 26.5%, and non-GAAP gross margin of 25.5% to 27.5%. GAAP diluted earnings per share for the first quarter is expected to be around $0.14 (plus or minus $0.15), while non-GAAP diluted earnings per share are predicted to be approximately $0.60 (plus or minus $0.15), according to the company’s guidance.