SMART Global Holdings, Inc. (NASDAQ: SGH) reported Q3 EPS of $0.70, $0.03 better than the analyst estimate of $0.67. Revenue for the quarter came in at $281.3 million versus the consensus estimate of $282.88 million.

Third Quarter Fiscal 2020 Highlights:

• Net sales of $281.3 million, 19.4% higher than the year ago quarter.
• GAAP net income of $0.8 million, or $0.03 per share, 57.6% and 59.5% lower than the year ago quarter, respectively.
• Non-GAAP net income of $17.1 million, or $0.70 per share, 115.8% and 106.1% higher than the year ago quarter, respectively.
• Adjusted EBITDA of $25.4 million, 32.5% higher than the year ago quarter.

“Thanks to the outstanding execution from our team in these challenging times we were able to achieve growth in revenue and gross profit over the previous quarter, and over the same period last year. This, combined with the operating leverage in our financial model, drove a strong increase in non-GAAP earnings per share and another quarter of operating cash flow generation,” commented Ajay Shah, Chairman and CEO.

GUIDANCE:

SMART Global Holdings, Inc. sees Q4 2020 EPS of $0.70-$0.86, versus the consensus of $0.76. SMART Global Holdings, Inc. sees Q4 2020 revenue of $290-310 million, versus the consensus of $295.42 million.

For earnings history and earnings-related data on SMART Global Holdings, Inc. (SGH) click here.