SMART Modular Technologies, Inc. (SMOD) said it is raising its guidance for the second quarter of fiscal 2010.
The company expects to report net sales in the range of $140 million to $145 million, approximately 10% higher than the previous guidance of $125 million to $135 million. The company expects to report GAAP net income per share in the range of $0.16 to $0.18 for the second quarter of fiscal 2010, substantially exceeding its previous guidance of $0.06 to $0.08 per share announced on December 17, 2009. Non-GAAP net income per share is expected to be in the range of $0.14 to $0.16, a substantial increase to the previous guidance provided by the Company of $0.09 to $0.11.
Analysts polled by Thomson Reuters expect the company to report earnings of $0.08 per share, on revenues of $131.14 million. Analysts' estimates typically exclude special items.
For the third quarter of fiscal 2010 ending May 28, 2010, SMART expects net sales to be relatively flat sequentially as demand stabilizes. GAAP net income per share is expected to be in the range of $0.07 to $0.09 as DDR2 availability increases and DRAM pricing moderates. On a non-GAAP basis, SMART estimates net income per share will be in the range of $0.09 to $0.11.
Analysts expect the company to earn $0.08 per share, on revenues of $132.97 million.
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