Business Context and Reporting Period
Company: Super Micro Computer, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: January 12, 2018
Event: Entry into a Material Definitive Agreement regarding a credit facility extension.
Key Financial Metrics
This filing does not report specific revenue, profit, cash flow, margin, or debt balance figures. The document solely addresses a procedural extension of reporting deadlines related to the company's existing Credit Agreement dated June 30, 2016.
Material Changes
On January 12, 2018, Bank of America, N.A. issued an Extension Letter to Super Micro Computer, Inc. This agreement modifies the delivery deadlines for financial reporting under the Credit Agreement:
- Extended Delivery Date: March 13, 2018.
- Items Affected:
- Audited Consolidated and consolidating financial statements for the fiscal year ending June 30, 2017.
- The FYE 2017 Compliance Certificate.
- Consolidated financial statements for the fiscal quarters ending September 30, 2017, and December 31, 2017.
- Associated Compliance Certificates.
Guidance, Outlook, and Risks
Management Commentary: The filing contains no forward-looking guidance, outlook, or management commentary regarding business operations or financial performance.
Risks and Contingencies: The filing notes that the description of the Extension Letter is qualified in its entirety by reference to the full terms of the agreement (Exhibit 10.1). No specific new risks or contingencies are detailed in the text of this report.
Investor Verification Checklist
- Verify the full terms of the Extension Letter filed as Exhibit 10.1 to understand any covenants or conditions attached to the deadline extension.
- Confirm the status of the audited FYE 2017 financial statements and whether they have been filed by the new March 13, 2018 deadline.
- Review the underlying Credit Agreement dated June 30, 2016, to understand the original reporting requirements and potential consequences of further delays.
- Monitor subsequent filings for the actual delivery of the FYE 2017 and Q3/Q4 2017 financial statements.