SMART Modular Technologies Inc.
(SMOD)
Quarterly Earnings Report



SMOD-june18,2010

June 18, 2010 - Chipmaker Smart Modular Technologies WWH (SMOD) posted better-than-expected quarterly results and forecast fourth-quarter results ahead of market expectations helped by strong demand in its end-markets.

Shares of the company, whose rivals include Netlist Inc (NLST) and Stec Inc (STEC), were up 4 percent at $6.73 in extended trading.

Newark, California-based Smart Modular, which makes memory modules and solid state storage products, expects fourth-quarter adjusted earnings of 22 cents to 24 cents, a share, on revenue of $200 million to $210 million.

Analysts were expecting earnings of 20 cents a share, on revenue of $185.9 million, according to Thomson Reuters.

For the quarter ended May 28, net income was $14.9 million, or 23 cents a share, compared with a net loss of $2.4 million, or 4 cents a share, last year. Adjusted earnings were 26 cents a share.

Revenue jumped to $201.2 million from $91.6 million last year. Analysts were expecting earnings of 18 cents a share, on revenue of $180.7 million.

Separately, Smart Modular said Chong Park has resigned from the company's board of directors, effective July 29.

Smart Modular shares, which have gained 28 percent over the last six months, closed at $6.50 Thursday on Nasdaq.

SMOD-option-june18,2010



There has been a lot of options activity on SMOD particularly in call contracts, which is providing a very optimistic outlook for the company.



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