Smart Global Holdings Inc (NASDAQ:SGH) has today unveiled its second quarter financial results for fiscal 2018 and analysts are proposing that the company uses the results to determine its way forward.
The President and Co-Chief Executive Officer of SMART Global Holdings Iain MacKenzie in making his statement outlined that the company’s second quarter struck them by surprise since it was above their expectations. According to him the growth drivers had played a rather significant role towards helping them close the year with such remarkable results.
He made a close reference to the general pricing and the memory densities and that was during the time he was speaking about the stability of the demand dynamics and the overall memory industry supply. There was continued growth of economy in Brazil and the top official revealed that they got top reap from the local content requirements.
According to him, it was a great opportunity for them to once again make a demonstration of the company’s exceptional operating expense control not forgetting its operating leverage financial model.
MacKenzie has exuded confidence in the company’s capacity to drive additional improvement and growth in both its Specialty Memory businesses and SMART Brazil. According to him, the company was progressively witnessing increased demand from its OEM customers, specifically in the networking and storage end markets.
Mr. MacKenzie was quite pleased by the decision by Ajay Shah to accept taking up his new role of the company’s President and CEO. He termed him a progressive leader who embraced teamwork a huge deal.
He also termed him a major asset for the company insisting that he was going to play quite a significant role helping the company forge forward. He promised to join hands with him towards helping the company achieve its set goals.
The company might be performing well and taking a lot of good steps towards the achievement of massive business success. However, in the past it has encountered challenges and will continue experiencing more. It will be resorting to working strategies as it has always done in the past in order to get back to its feet.