Super Micro Computer, Inc. (SMCI), a leading provider of advanced se rver and storage solutions, has released its financial statements for the third quarter of 2023. The company's report shows a remarkable performance in both net income and revenue during the quarter ended March 31, 2023.
Net Income
Super Micro Computer, Inc. achieved an impressive net income of $85.8 million during the third quarter of 2023. This notable figure demonstrates the company's robust financial performance and steady growth in its core business operations.
Revenue
The financial statements reveal that Super Micro Computer, Inc. generated total revenue of $1.28 billion in the third quarter of 2023. This revenue represents the sales of the company's products and services, including those from related parties. The significant revenue reflects the company's ability to meet customer demands and expand its market presence.
Financial Statements Overview
The company's condensed consolidated balance sheets as of March 31, 2023, show total assets amounting to $3.19 billion. These assets include current assets of $2.72 billion, which consist of cash and cash equivalents, accounts receivable, inventories, and prepaid expenses, among others. The company's property, plant, and equipment, net of depreciation, stands at $290.04 million, while other assets amount to $38.83 million.
On the liabilities side, Super Micro Computer, Inc. reported total liabilities of $1.42 billion as of March 31, 2023. These liabilities include current liabilities of $1.09 billion, which encompass accounts payable, accrued liabilities, income taxes payable, short-term debt, and deferred revenue, among others. Non-current liabilities amounted to $423.2 million, consisting of deferred revenue, non-current, long-term debt, and other long-term liabilities.
Looking at the stockholders' equity, the company's common stock and additional paid-in capital stood at $528.28 million, while accumulated other comprehensive income amounted to $683,000. The company's retained earnings recorded a significant increase to $1.24 billion, highlighting its successful financial performance. Additionally, there was a non-controlling interest of $166,000.
Overall, Super Micro Computer, Inc. demonstrated a strong financial position during the third quarter of 2023, with net income of $85.8 million and revenue of $1.28 billion. The company's ability to efficiently manage its assets and liabilities, coupled with consistent revenue growth, positions it well for continued success in the market.