SMART Global Holdings, Inc. (NASDAQ:SGH) unfold fourth quarter financial results after market close today.
The company outlined income for the fourth quarter dropped 81.25 percent of $ 5.63 million or $ 0.24 per share, compared to income of $ 29.72 million or $ 1.28 per share for the year-ago quarter.
SGH reported fourth quarter Non-GAAP net income of $ 11.86 million or or $ 0.50 per share, while Wall street analysts are predicting, income of $ 0.67 per share
Topline results for the fourth quarter fell 25.56 percent to $ 278.40 million from $ 373.97 million in the same quarter last year, where as Street analysts expected $ 285.04 million.
Analysts estimates are from Thomson Reuters, exclude one time gain or loss.
Ajay Shah, Chairman and CEO, commented, Fiscal 2019 was a year of two halves. In the first half we experienced a healthy memory pricing environment and our financial results benefited from that strength. In the second half of fiscal 2019 component pricing in the memory market declined significantly, which primarily impacted our business in Brazil and, to a lesser extent, our Specialty Memory Products, and resulted in overall revenues in fiscal 2019 declining year-over-year by 6%
Earnings outlook for 1Q20 are disclosed by SMART Global Holdings, Inc. in a range from $ 0.68 to $ 0.78 per share, while revenues are expected within $ 275.00 million to $ 285.00 million