Super Micro Slides on Weak Outlook as Delisting Risk Looms
- Company missed August deadline for annual financial reports
- Board committee says ‘no evidence of fraud or misconduct’
The Super Micro Computer Inc. headquarters in San Jose, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
Shares of Super Micro Computer Inc. plunged on Wednesday after the server maker issued a disappointing sales forecast and failed to give a timeline for filing its previous fiscal year’s official financial statements.
Revenue will be $5.5 billion to $6.1 billion in the quarter ending in December, the company said in a statement on Tuesday, well below analysts’ projections of $6.79 billion. Its profit outlook, excluding some items, also fell far below estimates.