SMART Global Holdings(US:SGH)2022-06-29 21:25Financial Performance - SGH achieved revenue of $463 million, a 6% increase compared to the year-ago quarter[10, 19] - GAAP gross margin was 25%, up approximately 540 basis points year-over-year, while non-GAAP gross margin was 26%, up approximately 380 basis points year-over-year[10, 19] - Non-GAAP EPS reached $0.87, a 24% increase year-over-year[10, 19] - Q3 FY22 net sales were $462.5 million compared to $437.7 million in Q3 FY21[22] - Cash and equivalents at the end of Q3 FY22 were $387 million, compared to $366 million at the end of Q2 FY22[26] Business Segment Performance - Intelligent Platform Solutions (IPS) revenue increased 16% sequentially to $95 million, with services revenue up 61% sequentially to a record $34 million[14] - Memory Solutions revenue increased 11% year-over-year to $266 million[14] - LED Solutions revenue was $101 million, slightly down from $102 million in the year-ago quarter[14] Acquisition and Future Outlook - SGH announced the acquisition of Stratus Technologies, expected to close by calendar year-end 2022, which has over $150 million in annual revenue, including over $80 million of higher-margin services revenue[10] - Q4 FY2022 net sales guidance is $420 to $460 million[30] - Q4 FY2022 diluted EPS guidance is $0.65 +/- $0.10 on a non-GAAP basis[30]