SMART Global Holdings Reports Fourth Quarter and Full Year Fiscal 2018 Financial Results

SMART Global Holdings (NASDAQ:SGH) reported financial results for the fourth quarter and full year fiscal 2018 ended August 31, 2018 with the company revealing its full year net sales to have increased by 69 percent.

The company said that its GAAP operating income was US$170.2 million while its GAAP net income was US$119.5 million for the fiscal 2018.

As quoted in the press release:

“We completed fiscal 2018 with another great quarter, including the closing of our acquisition of Penguin Computing,” said Ajay Shah, Chairman and Chief Executive Officer of Smart Global Holdings.  “In addition, we closed our first full fiscal year as a public company with record revenues that crossed the $1 billion mark.  Driving this performance was strength in our Specialty Memory business which had a very strong quarter and earned new NVDIMM and VLP RDIMM design wins at major Storage and Server customers.  We also had design wins for our ruggedized SSD products and our Embedded Data Cache product in the Industrial Automation market. Brazil continued its strong performance and added many new memory products for PC, server and smartphone applications as well as a new polymer cell-based battery product for smartphones.”

SMART appointed an additional independent director, Bryan Ingram, Senior Vice President and General Manager of the Wireless Semiconductor Division of Broadcom Inc., to its board of directors and its Compensation Committee.

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