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Smart Global Holdings Inc. (SGH) stock soars during afterhours trading session. Here’s the update.

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Smart Global Holdings Inc. (NASDAQ: SGH) stock surged by 0.78% at last close while the SGH stock price gains by 6.6% in the after-hours trading session. The firms at SGH are linked by a desire to push the envelope, execute with rigour, and focus on the future of the technologies that sustain and progress the globe. They form long-term strategic collaborations with our clients in computing, memory, and LED lighting solutions.

SGH stock’ Financial Highlights

Financial data for the fourth quarter and fiscal year 2021 were released by SMART Global Holdings.

Fourth Quarter of the Fiscal Year 2021:

  • Sales were $467.7 million, up 57% from the previous quarter.
  • The GAAP gross margin was 25.2 percent, up 620 basis points from the same period last year.
  • Non-GAAP gross margin was 26.4 percent, up 690 basis points from the same period the previous year.
  • GAAP earnings per share of $0.78, up 160 percent from the previous quarter.
  • Non-GAAP EPS of $2.16, up 163 percent from the same quarter last year.

Highlights for the Fiscal Year 2021:

  • Net sales of $1.5 billion were up 34% over the previous year.
  • The GAAP gross margin was 20.5 percent, an increase of 120 basis points from the year before.
  • Non-GAAP gross margin increased by 240 basis points to 22.2 percent compared to the previous year.
  • $0.83 GAAP EPS, up from ($0.05) the previous year.
  • Non-GAAP earnings per share of $5.22, up 102 percent from the previous year.

On Tuesday, October 12, 2021, at 1:30 p.m. Pacific Time, SGH will host a conference call and webcast to address the Q4 and full-year fiscal 2021 results and associated topics.

SGH CEO Mark Adams commented,

The fiscal year 2021 has been a watershed moment for SGH. They are grateful for the team’s numerous achievements in each of their business areas, including Intelligent Platform Solutions, Memory Solutions, and LED Solutions. They think they have the proper foundation to execute their development and diversification plan while creating value for their stakeholders as they enter fiscal 2022.

On February 11, 2022, at 10:00 a.m. Pacific Time, SGH will have its Annual Meeting of Shareholders.

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