Shares of Super Micro Computer, Inc. (SMCI) are falling more than 5% Monday morning after the company announced preliminary third-quarter revenue, below analysts’ view.
The company now expects revenue for the third quarter to be about $1.28 billion, lower than the midpoint of previous outlook range of $1.47 billion, primarily due to key new component shortages for Supermicro’s transition to new generation product lines.
Analysts on average polled by Thomson-Reuters expect the company to report revenue of $1.46 billion for the quarter.
However, Charles Liang, President and CEO of Supermicro commented, “The challenges are improving as we speak, and we are now well positioned to fulfill delayed deliveries and have commenced production.”
SMCI, currently at $101.21, has been trading in the range of $37.01-$119.24 in the last 52 weeks.
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