SMART Global Holdings Adds 4% As Quarterly Earnings Beat Estimates

(RTTNews) - Shares of SMART Global Holdings, Inc. (SGH) are rising more than 4% Wednesday morning after reporting better-than-expected first-quarter earnings.

Profit in the first quarter was $4.99 million or $0.10 per share, lower than $20.03 million or $0.37 per share in the same quarter a year ago.

Excluding one-time ites, earnings were $0.79 per share that beat the average estimate of analysts polled by Thomson-Reuters of $0.57 per share.

Quarterly sales increased 6.3% to 465.48 million.

Looking forwad, the company expects second-quarter sales to be in the range of $410 million-$460 million

Adjused EPS for the quarter is expected to be in the range of $45-$60.

Analysts expect earnings of $0.49 per share on revenue of $432.22 million for the quarter.

SGH, currently at $15.69, has traded in the range of $12.04-$34.72 in the last 1year.