SMART Global Holdings, Inc. Ordinary Shares - SGH STOCK NEWS

SMART Global Holdings, Inc. (SGH) reported its second quarter fiscal 2023 results, showing net sales of $429 million, a decrease of 4.5% year-over-year. The company achieved a GAAP gross margin of 25.7%, improving by 60 basis points from the previous year, and a non-GAAP gross margin of 28.9%, which is up 290 basis points. SGH's GAAP EPS was $(0.55), down from $0.04 a year ago, while non-GAAP EPS was $0.76, compared to $0.87 a year prior. The company ended the quarter with $376 million in cash equivalents and expressed confidence in growth opportunities driven by advancements in AI and data analytics.

SMART Modular Technologies, a division of SGH, has launched its new T6CN family of PCIe NVMe SSDs, designed for defense, industrial, and telecommunications applications. The SSDs deliver high performance with capacities ranging from 960GB to 16,360GB and speeds up to 3,500MB/s Sequential Read and 3,200MB/s Sequential Writes. The T6CN SSDs are compatible with PCIe Gen 4.0 technology, offering significantly faster data transfer rates than SATA III. They come with advanced features, including Power Failure Protection and robust error correction. These enhancements position the products well in the rugged SSD market.

Cree LED, a subsidiary of SGH (Nasdaq: SGH), has launched its J Series® 5050C E Class LEDs, boasting an industry-leading efficacy of 228 lumens per watt (LPW) at 4000K and 70 CRI. These advanced LEDs deliver up to three times the light output compared to rival 5050 models, and also feature enhanced corrosion resistance suitable for challenging environments. The new product line promises significant cost reductions—up to 40% in system costs and 57% in size—when transitioning from lower-performance LEDs. Available in various color temperatures and CRI options, product samples and production quantities are ready for order.

SMART Global Holdings, Inc. (SGH) will host its quarterly financial conference call for the second quarter of fiscal year 2023 on April 4, 2023, at 1:30 p.m. PDT. The financial results will be released prior to the call. Interested participants can access the live webcast via the SGH investor relations website. For those unable to attend, a replay of the call will be available for one week following the event.

This call is an opportunity for stakeholders to gain insights into SGH’s performance and strategic direction, reflecting the company's commitment to transparency and investor engagement.

DURHAM, N.C.--(BUSINESS WIRE)--Cree LED, a company under SGH, announces the launch of three new surface mount diode (SMD) LEDs designed for large-format, high-resolution video screen applications. These new products enhance performance for various display types, including stadium signs and roadway signs. The CV94A-FGC LED offers a 90°/45° beam angle, while the CLMWB-FKC is optimized for outdoor LED video screens. The UHD111A-FKA LED is designed for indoor displays, ensuring improved brightness and image quality. All three products are waterproof and equipped with UV inhibitors for reliability in tough conditions, available with short lead times.

Stratus Technologies (SGH) will present its AI-powered Edge Computing platforms at the 27th ARC Industry Leadership Forum in Orlando, Florida, from February 6-9.

Stratus collaborates with Streamline Innovations to showcase sustainable gas treating solutions, emphasizing operational efficiency and emissions reduction.

Stephen Greene, VP at Stratus, highlighted the critical role of actionable data for safe operations. The demonstration includes the Stratus ztC Edge platform, designed for enhanced uptime and cost-efficiency in oil and gas applications.

SMART Global Holdings (SGH) announced a private exchange agreement to exchange $150 million of its 2.25% convertible senior notes due 2026 for $150 million of new 2.000% convertible senior notes due 2029, along with approximately $15.6 million in cash. This transaction aims to extend maturities while maintaining liquidity. Additionally, SGH plans to repurchase about 325,000 ordinary shares for roughly $5.4 million. The new notes have an initial conversion price of approximately $21.23 per share, a 27.5% premium over the last reported price of $16.65. The exchange transaction is expected to settle by January 23, 2023.

Cree LED, a division of SGH, has launched its new XLamp® Pro9™ LEDs, which offer up to 15% higher efficacy for 90 and 95 color rendering index (CRI) without compromising color quality. These LEDs provide the same performance as standard 80 CRI LEDs, enhancing light output and efficiency in commercial applications. Pro9 LEDs feature the highest operating temperature rating of 105°C and share mechanical and electrical characteristics with standard LEDs, allowing for easy upgrades by lighting manufacturers.

SMART Global Holdings, Inc. (SGH) reported its Q1 FY23 financial results, achieving net sales of $465 million, a 6.3% increase from the previous quarter. The GAAP gross margin improved to 25.4%, while non-GAAP gross margin reached a record 27.8%. GAAP EPS declined to $0.10 from $0.40 in the prior quarter, while non-GAAP EPS was $0.79, a slight dip from $0.80. The company closed its acquisition of Stratus Technologies on August 29, 2022. For Q2 FY23, SGH projects net sales between $410 million and $460 million.