SMART Global Holdings, Inc. Reports Third Quarter Fiscal 2017 Financial Results

SMART Global Holding (NASDAQ:SGH) has reported financial results for the third quarter of fiscal 2017 ended May 26, 2017.
As quoted in the press release:

Third Quarter Fiscal 2017 Highlights:

• Net sales of $207.0 million
• Gross profit of $47.4 million
• Net income of $8.0 million
• Adjusted EBITDA of $29.9 million
• GAAP diluted EPS of $0.50
• Pro forma* non-GAAP diluted EPS of $0.62

Net sales for the third quarter of fiscal 2017 were $207.0 million, compared to $172.0 million for the second quarter of fiscal 2017, and $149.6 million for the third quarter of fiscal 2016.
Gross profit for the third quarter of fiscal 2017 was $47.4 million, compared to $37.2 million for the second quarter of fiscal 2017, and $30.6 million for the third quarter of fiscal 2016.
On a GAAP basis, net income for the third quarter of fiscal 2017 was $8.0 million or $0.50 per diluted share, compared to a net loss of $2.3 million or $(0.17) per diluted share for the second quarter of fiscal 2017, and a net loss of $1.3 million, or $(0.10) per diluted share for the third quarter of fiscal 2016.
On a non-GAAP basis, net income was $13.7 million, and on a pro forma* basis, non-GAAP net income was $0.62 per diluted share for the third quarter of fiscal 2017. Non-GAAP net income for the second quarter of fiscal 2017 was $3.5 million or $0.25 per diluted share, and $2.6 million or $0.19 per diluted share for the third quarter of fiscal 2016.
Adjusted EBITDA for the third quarter of fiscal 2017 was $29.9 million, compared to $23.5 million for the second quarter of fiscal 2017, and $17.4 million for the third quarter of fiscal 2016.

Click here to read the full press release.