SMART Global Holdings, Inc. (NASDAQ: SGH) reported Q1 EPS of $1.75, $0.02 worse than the analyst estimate of $1.77. Revenue for the quarter came in at $393.9 million versus the consensus estimate of $382.73 million.

“We had a strong start to fiscal 2019 with revenue in our first quarter exceeding the high end of our guidance and coming in at $393.9 million,” commented Ajay Shah, Chairman and Chief Executive Officer. “Driving the quarter was continued success in our Specialty Memory business, as well as solid sequential growth from our new Specialty Compute & Storage Solutions business. Our business in Brazil also met expectations”

“Looking ahead we remain optimistic about our overall business. We are seeing increased seasonality during our second fiscal quarter in our Brazil business. However, our other lines of business are expected to perform at or above our previous expectations for fiscal Q2,” concluded Mr. Shah.

GUIDANCE:

SMART Global Holdings, Inc. sees Q2 2019 EPS of $0.73-$0.77, versus the consensus of $1.32. SMART Global Holdings, Inc. sees Q2 2019 revenue of $310-325 million, versus the consensus of $3.28 million.

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