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SMOD: 2Q earnings 3-24-11 AMC
SMART Modular Technologies (WWH), Inc. Schedules Earnings Conference Call to Announce Financial Results for Its Second Quarter of Fiscal 2011
Thursday , March 03, 2011 16:01ET
NEWARK, CA -- (Marketwire) -- 03/03/11 -- SMART Modular Technologies (WWH), Inc. ("SMART" or the "Company") (NASDAQ: SMOD), a leading independent manufacturer of memory modules and solid state storage products, announced today that it plans to release its financial results for the second quarter of fiscal 2011 after the market closes on Thursday, March 24, 2011. The Company will host a corresponding conference call at 1:30 p.m. Pacific Time (PT), 4:30 p.m. Eastern Time (ET).
Conference Call Details
The conference call will be hosted by Iain MacKenzie, President and Chief Executive Officer, and Barry Zwarenstein, Senior Vice President and Chief Financial Officer. The call may be accessed US toll free by calling +1-877-941-4774 or US toll by calling +1-480-629-9760. Please join the conference call at least ten minutes early and use the access code 4421390.
A replay of the conference call will be available until April 7, 2011 at www.smartm.com or by calling US toll free +1-800-406-7325 or US toll by calling +1-303-590-3030 and using access code 4421390.
SMART Modular Technologies Announces Leading-Edge DDR3 Nonvolatile DIMM Product Line
Tuesday , February 22, 2011 09:00ET
NEWARK, CA -- (Marketwire) -- 02/22/11 -- SMART Modular Technologies (WWH), Inc. ("SMART" or the "Company") (NASDAQ: SMOD), a leading independent manufacturer of memory modules and solid-state storage products, today announced the introduction of a new family of DDR3 nonvolatile DIMMs (NVDIMMs) for battery-free cache data backup in RAID storage applications. The new NVDIMMs leverage SMART's proprietary SafeStor technology, resolving the longstanding industry challenge of how to move away from battery backup schemes.
SMART's lineup of DDR3-1333 NVDIMMs ranges in density from 1 to 4GB and accommodates 1U applications with a low-profile 0.94" (24mm) 240-pin DIMM form factor. Additional densities ranging up to 8GB in a 1.18" (30mm) 240-pin DIMM JEDEC-standard form factor will be available in Q2'11.
"The need to eliminate batteries for 72-hour emergency cache backup has been an ongoing challenge for system designers," said Mike Rubino, SMART's Vice President of Engineering. "By using SMART's new family of DDR3 NVDIMMs, storage OEMs no longer need to be burdened with the disposal and field maintenance issues associated with batteries." The NVDIMMs function as JEDEC-standard DDR3 registered DIMMs with the added capability to back-up DRAM data into NAND flash during a power outage and then restore that data into DRAM once power has returned. The use of NAND flash as back-up storage provides years of retention capability versus days for battery-based systems.
SMART Modular Technologies' Leading-Edge DDR3 Nonvolatile DIMM SMART's NVDIMMs utilize a proprietary SafeStor engine to initiate backup and restore operations upon command from the host controller. The DDR3-1333 NVDIMMs support multiple command delivery options to trigger SafeStor backup during host-detected power outage or recovery events. The SafeStor engine employs multi-channel fast NAND and high-speed switching circuitry to provide an leading-edge backup and restore capability at 10s/GB, while still functioning as a standard DDR3 RDIMM at speeds up to 1333MHz during normal operation. Temporary power is provided to the NVDIMM during a power loss by a SuperCap module, which can be tailored to individual application environments. In addition, the new NVDIMMs feature an end-to-end error checking and correction capability to insure the highest levels of data integrity during backup and restore operations.
SMART is currently sampling its NVDIMMs to top-tier OEMs and is scheduled to ramp up in the second half of 2011. Please contact a SMART sales representative for further details.
Forward-Looking Statements
Statements contained in this press release, that are not statements of historical fact, including any statements that use the words "will," "believes," "anticipates," "project," "estimates," "expects," "intends," "scheduled," "plans," or similar words that describe the Company's or its management's future plans, objectives, or goals, are "forward-looking statements" and are made pursuant to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include those related to the Company's business strategies and product plans, product performance, production, reliability, quality and customer acceptance, and the market for the Company's products.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to be materially different from the historical results and/or from any future results or outcomes expressed or implied by such forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, production or manufacturing difficulties, competitive factors, new products and technological changes, difficulties with or delays in the introduction of new products, declines or fluctuations in product prices and raw material costs and availability, dependence upon third-party vendors, customer demand for or acceptance or qualification of products, end user markets, changes in industry standards or release plans, fluctuations in the quarterly effective tax rate and related tax provision, failure to receive continued favorable tax treatment or renewals of exemptions from or benefits relating to certain taxes in foreign countries, higher than anticipated costs from increasing capacity, changes in foreign currency exchange rates, intellectual property disputes, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission including the Company's Annual Report on Form 10-K for fiscal 2010 and the Company's Quarterly Report on Form 10-Q for the first quarter of fiscal 2011. Such risk factors as outlined in these reports may not constitute all factors that could cause actual results to differ materially from those discussed in any forward-looking statement.
The Company operates in a continually changing business environment and new factors emerge from time to time. The Company cannot predict such factors, nor can it assess the impact, if any, from such factors on the Company or its results. Accordingly, our future results may differ materially from projections and investors are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. These forward-looking statements are made as of today, and the Company does not currently intend, and has no obligation, to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this press release.
Wedbush Upgrades SMART Modular Technologies (SMOD) to Outperform; DRAM Fundamentals Improving -- Risk Reward/Compelling
8:43 am ET 01/21/2011- StreetInsider
Wedbush upgraded SMART Modular Technologies (NASDAQ: SMOD) from Neutral to Outperform. PT increased from $7 to $8. Wedbush analyst says, "While the uncertainty of the depth in DRAM ASP declines and timing of the DRAM market recovery had kept us cautious, we remained constructive on SMART s long-term diversification strategy into enterprise SSDs, specialty DRAM modules, and NAND flash memory cards in Brazil. We think with: (1) DRAM ASPs nearing a bottom, (2) DRAM supply/demand fundamentals improving, (3) investor expectations set for a trough in FQ2 (Feb) earnings and revenue, (4) the long-term diversification strategy on track, and (5) the recent pullback in share price, that the risk/reward to buy shares of SMART is now compelling."
Shares of SMART Modular Technologies closed at $5.62 yesterday, with a 52 week range of $4.31-$8.75.
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SMART Modular Technologies Announces Its 16GB DDR3 Load-Reduced DIMM
Wednesday, January 05, 2011 09:00ET
NEWARK, CA -- (Marketwire) -- 01/05/11 -- SMART Modular Technologies (WWH), Inc. ("SMART" or the "Company") (NASDAQ: SMOD), a leading independent manufacturer of memory modules and solid state storage products, today announced the immediate availability of its 16GB DDR3 load-reduced DIMM (LRDIMM), which is particularly well suited to support growing cloud-computing and server-virtualization applications.
SMART's 16GB LRDIMM targets next-generation Intel® Sandy Bridge server and storage-based platforms for networking and high-performance computing applications. By selecting this LRDIMM memory solution, designers can populate all of the memory sockets in a system to their maximum density while operating at full clock speed.
The new LRDIMM uses the Inphi Corporation (NYSE: IPHI) Isolation Memory Buffer (iMB™) instead of a register, which enables higher performance at maximum system capacity. SMART's design approach minimizes loading and boosts overall server and storage system memory capacity by up to 4X, all while operating at data rates up to 1600MHz. Systems using Intel's Sandy Bridge are expected to begin shipping in the 2H'11, and system designs are underway now. For implementation on existing platforms, SMART and Inphi can provide bios modification guidance so that the LRDIMM benefits can be used prior to the industry launch in 2H'11.
SMART's New 16GB DDR3 LRDIMMSMART is currently running its 16GB DDR3 LRDIMMs on SuperMicro's® X8DTN+ server board using Intel Westmere-EP processors. This enables the server board to be loaded with 288GB of memory to run at a 1333MHz data rate (eighteen 16GB DDR3-1333 LRDIMMs) for maximum performance and capacity.
Optimized for cost and short lead times, SMART's LRDIMM uses off-the-shelf, mainstream 2Gb DDR3 DRAM technology. This is in contrast to dual-die and quad-die packaged parts that typically have supply constraints and a cost premium. SMART's new LRDIMM is configured as a 2Gbx72 4-rank module with 2Gb 512Mx4 DRAMs running at a 1333MHz data rate. The LRDIMM with rank multiplication enables more ranks of DRAMs to be populated on the memory module and to be seamlessly accessed by the CPU memory controller.
In order to deliver high quality, competitively priced, high-density LRDIMMs, SMART uses its own unique method of DRAM stacking and leverages its in-house design and test expertise to ensure full system compatibility. SMART's stacking processes for DDR1, DDR2, and DDR3 are industry-proven and supported in high volume, and SMART's LRDIMMs are JEDEC compliant and widely supported by the industry.
The new LRDIMM joins a DDR3 product portfolio that is one of the most comprehensive in the industry, with planned expansions to 32GB and 64GB in Q2'11. For additional information on SMART's 16GB LRDIMM (part number SG5722G4CH8L0PH) modules, visit www.smartm.com.
About SMART
SMART is a leading independent designer, manufacturer and supplier of electronic subsystems to original equipment manufacturers, or OEMs. SMART offers more than 500 standard and custom products to OEMs engaged in the computer, enterprise, industrial, networking, gaming, telecommunications, defense, aerospace and embedded application markets. Taking innovations from the design stage through manufacturing and delivery, SMART has developed a comprehensive memory product line that includes DRAM, SRAM, and Flash memory in various form factors. SMART also offers high performance, high capacity solid state drives, or SSDs, for enterprise, defense, aerospace, industrial automation, medical, and transportation markets. SMART's presence in the U.S., Europe, Asia, and Latin America enables it to provide its customers with proven expertise in international logistics, asset management, and supply-chain management worldwide. See www.smartm.com for more information.
SMART Modular Technologies Reports First Quarter Fiscal 2011 Results
Thursday , December 16, 2010 16:01ET
NEWARK, CA -- (Marketwire) -- 12/16/10 -- SMART Modular Technologies (WWH), Inc. ("SMART" or the "Company") (NASDAQ: SMOD), a leading independent manufacturer of memory modules and solid state storage products, today reported financial results for the first quarter of fiscal 2011 ended November 26, 2010.
First Quarter Fiscal 2011 Highlights:
-- Net sales of $216.4 million
-- Gross profit of $44.0 million
-- GAAP diluted EPS of $0.12
-- Non-GAAP diluted EPS of $0.27
-- Adjusted EBITDA of $29.6 million
Net sales for the first quarter of fiscal 2011 were $216.4 million, as compared to $218.7 million for the fourth quarter of fiscal 2010, and $123.1 million for the first quarter of fiscal 2010.
Gross profit for the first quarter of fiscal 2011 was $44.0 million, compared to $49.8 million for the fourth quarter of fiscal 2010, and $28.8 million for the first quarter of fiscal 2010.
On a GAAP basis, net income for the first quarter of fiscal 2011 was $8.0 million or $0.12 per diluted share, compared to $17.0 million or $0.26 per diluted share for the fourth quarter of fiscal 2010, and $4.6 million or $0.07 per diluted share for the first quarter of fiscal 2010. The first quarter of fiscal 2011 net income of $8.0 million includes a one-time technology access charge of $7.5 million to accelerate our development of enterprise solid state drives.
On a non-GAAP basis, net income was $17.6 million or $0.27 per diluted share for the first quarter of fiscal 2011, compared to $18.8 million or $0.29 per diluted share for the fourth quarter of fiscal 2010, and net income of $5.4 million or $0.08 per diluted share for the first quarter of fiscal 2010.
Adjusted EBITDA for the first quarter of fiscal 2011 was $29.6 million, compared to $33.2 million for the fourth quarter of fiscal 2010, and $15.0 million for the first quarter of fiscal 2010.
Please refer to the Non-GAAP Information section and the "Reconciliation of Non-GAAP Financial Measures" table below for further detail on non-GAAP net income and Adjusted EBITDA.
"We are pleased to have achieved our earnings per share guidance, notwithstanding significant pricing pressures in the DRAM market," commented Iain MacKenzie, President and CEO of SMART. "In Brazil, despite a greater than 20% increase in module capacity, gross profit was slightly below expectations due to end-of-quarter DRAM price declines. In our specialty memory business, end user demand was somewhat weaker than we had anticipated due in part to delays in orders resulting from the weaker DRAM pricing environment. Despite these pressures, we were able to lower overall operating expenses and achieve our expectations for earnings per share."
"Longer term, we continue to make progress with our enterprise solid state storage and Brazil flash business initiatives, both of which are important drivers of our future growth. We were particularly pleased with our second Enterprise XceedIOPS SSD design win, in this instance with IBM's Power7 Supercomputing group. Although we are going through a period of significant DRAM pricing declines, we expect such pricing declines to be temporary and we believe that our strong customer relationships and operational excellence will enable us to remain solidly profitable and successful as the year unfolds," concluded Mr. MacKenzie.
Business Outlook
The following statements are based upon management's current expectations. These statements are forward-looking, and actual results may differ materially. The Company undertakes no obligation to update these statements.
SMART expects that the combination of the substantial DRAM price declines and the reduced number of business days in the second fiscal quarter will put pressure on its second quarter results.
For the second quarter of fiscal 2011, SMART expects net sales will be in the range of $165 to $185 million and gross profit in the range of $31 to $34 million. Net income per diluted share is expected to be in the range of $0.06 to $0.08 on a GAAP basis. On a non-GAAP basis, SMART expects net income per diluted share will be in the range of $0.09 to $0.11. The guidance for the second quarter of fiscal 2011 includes an income tax provision expected to be in the range of $3.4 to $3.7 million. Please refer to the Non-GAAP Information section and the "Reconciliation of Q2-11 Guidance for Non-GAAP Financial Measures" table below for further detail.
Continued at:
http://www.knobias.com/story.htm?eid=3.1.e21558754f2d2aa3bf2be73bada9c47b846161f10e9d81ef523c1648e58551a9
SMOD: Q1 Adj EPS 27c vs 8c EPS +238% Y/Y
Thursday , December 16, 2010 16:44ET
QUARTER RESULTS
Smart Modular Technologies, Incorporated (SMOD) reported Q1 results ended November 2010. Q1 Revenues were $216.40M; +75.79% vs yr-ago. Q1 EPS was 12c. Adjusted Q1 EPS was 27c; +237.50% vs yr-ago.
Q1 RESULTS Reported Year-Ago Y/Y Chg Estimate SURPRISE
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Revenues: $216.40M $123.10M +75.79% N/A N/A
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EPS: 12c N/A N/A N/A N/A
Adj EPS: 27c 8c +237.50% N/A N/A
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