Categories Earnings, Technology

Smart Global Holdings (SGH) Q2 2020 Earnings Snapshot

— Smart Global Holdings (NASDAQ: SGH) reported its second-quarter 2020 adjusted earnings of $0.52 per share versus $0.50 per share expected.

— Net sales decreased by 10.5% to $272 million versus $268.93 million expected.

— GAAP loss was $9.7 million or $0.41 per share compared to a profit of $12.8 million or $0.55 per share in the prior-year quarter.

— For the third quarter of 2020, the company expects GAAP EPS to be $0.33 + or – $0.05 and non-GAAP to be $ 0.68 + or – $0.05. Sales pegged to be in the range of $270 million to $300 million.

— Specialty Memory Products sales retreated by 3.5% to $111.5 million.

— Specialty Compute and Storage Solutions sales jumped by 52% year-over-year to $62.9 million.

— Brazil products sales plunged by 36% to $97.7 million.

— SGH stock rose more than 5% in the after-market hours.

Also Read:  Autodesk Inc (ADSK) Q3 2021 Earnings Call

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