SMART Modular Technologies Inc. (SMOD) reported that its fourth-quarter GAAP net loss was $0.3 million or $0.00 per share compared to a net loss of $3.5 million or $0.06 per share last year. Non-GAAP net income was $3.1 million or $0.05 per share compared to $3.4 million or $0.05 per share last year. On average, 5 analysts polled by Thomson Reuters expected the company to report a loss of $0.01 per share for the quarter.
Net sales were $99.8 million compared to $160.7 million last year. Analysts expected sales of $96.78 million for the quarter.
Fiscal 2009 GAAP net loss was $11.4 million or $0.18 per share compared to net income of $9.0 million or $0.14 per share a year ago. Fiscal 2009 non-GAAP net income was $11.0 million or $0.17 per share compared to $35.2 million or $0.55 per share a year ago.
Net sales were $441.3 million compared to $670.2 million a year ago.
The company expects first-quarter net sales to be in the range of $98 million-$105 million, per share results to be in the range of loss of $0.01 to profit of $0.01 on a GAAP basis. On a non-GAAP basis, the company expects net income per share to be in the range of $0.02-$0.04.
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