SMART Modular Technologies Inc. (SMOD) announced that it raised its first quarter guidance based on the Company's preliminary review of its anticipated financial performance.
For the first quarter of fiscal 2010, the company now expects to report GAAP net income per share in the range of $0.04 to $0.06, compared to previous guidance of loss $0.01 per share - profit $0.01 per share. The company raised its first-quarter non-GAAP net income outlook to a range of $0.06 - $0.08 per share, from the previous range of $0.02 - $0.04 per share.
For the first-quarter, the Company expects to report net sales in the range of $110 million to $120 million, more than 10% higher than the previous guidance of $98 million to $105 million. Gross profit is expected to be in the range of $24 million to $26 million, approximately 20% higher than the previous guidance of $20 million to $22 million.
Analysts polled by Thomson Reuters expect the company to report earnings of $0.01 per share on revenues of $103.02 million for the first-quarter. Analysts' estimates typically exclude special items.
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