Super Micro said its board of directors found there was no evidence of fraud or misconduct from management after its auditor resigned last week., the embattled server maker that's late in releasing annual financials and at risk of being delisted by the Nasdaq, reported unaudited first-quarter results on Tuesday.
Adjusted net income for the quarter was 75 cents to 76 cents a share, in line with analyst expectations compiled by LSEG. Super Micro said on Tuesday that its board of directors had commissioned a special committee to look into Ernst & Young's concerns. In a three-month investigation, the committee found there was"no evidence of fraud or misconduct" from management, the company said.
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