Smart Modular FY Q3 Crushes Street Ests; Q4 Outlook Beats

Smart Modular Technologies (SMOD) this afternoon reported better-than-expected results for its fiscal thid quarter ended May 28.

For the quarter, the memory module company posted sales of $201.2 million, up from $160.1 million in Q2 and $91.6 million a year ago, and ahead of the Street at $180 million. Non-GAAP EPS of 26 cents a share was well ahead of the Street at 17 cents.

For FY Q4, the company sees revenue of $200 million to $210 million, and non-GAAP profits of 22-24 cents a share; the Street has been forecasting $184.4 million and 20 cents.

In late trading, SMOD is up 24 cents, or 3.7%, to $6.74.