Super Micro Stock stands after sales of up to $ 1.4 billion in sales of up to $ 1.4 billion

• Fortune 500 Super Micro Computer Hardware and Company Manufacturer He has published a disappointing update of the financial results of the third quarter. The technology giant reported on Tuesday that it is expected to be a deficit of income from $ 400 million to $ 1.4 billion and that its gross benefit margins decreased by 220 basic points compared to the previous quarter.

Time is money. And in Super Micro Computer Science boxCustomers need more time to make decisions on which server technology platforms or configurations they need to buy. The delay in the client hiring He pushed for some expected sales from the third quarter to the fourth, announced Super Micro Tuesday, sending his 3% spiral in shares during the day and more than 15% in the post -hours negotiation.

The company plain Its prior sales orientation of $ 5 billion to $ 6 billion up to a planned range of $ 4.5 billion to $ 4.6 billion. The benefits by action are also well below the previous orientations of 16 to 17 cents, an action versus a previous orientation of 36 to 53 cents per action. Super Micro’s profit margin decreased 220 basic points, or 2.2 percentage points, the company said to the investors.

“During the third quarter, some delayed customer platform decisions moved sales to the fourth quarter,” the company said in a statement. “The gross margin Gaap and not Gaap for the quarter was 220 basic points lower than P Mainly due to the highest inventory reserves derived from older generation products and issuing expenses to allow the market time for new products. “”

The news comes, as investors expect more significant data on the impact of rates on AI’s companies and data centers. President Trump clarified on April 11 executive order that semiconductors are exempt from new rates but uncertainty and unpredictability scared investors generally. Super Micro will hold a earnings call with investors to review the third quarter results Next week.

Technology firm has been struggling to restore their credibility with investors after a Tumultuous 2024 in which the company was run over with a Short seller critical reportI had it is The auditor leftand then delayed the issuance of audited financial files and was threatened With being eliminated from Nasdaq. The exchange had previously suspended Super Micro in 2018 after a Dry research.

Super Micro has hired since then Bdo As a new auditor and announced The results of independent investigation led by the Board. The company said it would replace CFO Dave Weigand current for a finance chief “with extensive experience working as a senior finance professional in a large public company.”

The company also announced that he would hire a general lawyer, expand his legal department and evaluate training programs around “sales and income recognition policies and practices, including the role of accounting staff in the sales transaction process”.

In the meantime, Weigand achieved a 5% increase in base salary during 2024, which ended on June 30, 2024, Super Micro told investors to his Proxy statement. The recommendation was from the CEO, founder and President Charles Liang, and partly based on the analysis showing that Weigand was paid well below the market for his role, the company said. The Weigan Base Salary is $ 547,000 and its bonus reached $ 191,000. Liang also recommended that Weigand would get a performance award with a value of $ 550,000, paid for a combination of cash and performance actions. The total CFO CFO compensation soon by 2024 was evaluated at $ 9.6 million and included a subsidy of options valued at $ 5.2 million.

Liang’s compensation, which includes a $ 1 salary and no bonus, was evaluated at $ 28 million.

The Super Micro Board saw that some counselors attended dozens of what the company called “excess meetings”, which probably made decisions about the auditor’s departure and oversee independent investigation. According to Proxy’s statement, two counselors attended 20 excessive meetings; The Council pays $ 2,000 for meeting for each meeting, as well as a regular board meeting up to 10 additional meetings.

Super Micro did not immediately respond to a comment request.

This story originally presented to Fortune.com