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Supermicro narrows first quarter earnings per share to 75c-76c from 67c-83c, consensus 75c
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Supermicro narrows first quarter earnings per share to 75c-76c from 67c-83c, consensus 75c

Cuts first-quarter revenue guidance to $5.9 billion-$6.0 billion from $6.0 billion-$7.0 billion, consensus $6.45 billion. The Company also states: As previously disclosed by the Company, in response to information brought to the attention of the Audit Committee of the Company’s Board of Directors, the Board of Directors has formed an independent committee. The Special Committee provided the following statement to Super Micro today, but provided no additional details or information. “The Special Committee has completed its investigation based on a series of initial concerns raised by EY. After a three-month investigation led by independent counsel, the committee’s investigation to date has found that the audit committee acted independently and that there is no evidence of fraud or misconduct on the part of management or the board of directors . The committee recommends a series of corrective actions for the company to strengthen its internal governance and oversight functions, and the committee expects to deliver the full report on the completed work this week or next. The Special Committee has other work that is ongoing, but expects this to be completed shortly.”