By Sabela Ojea
Server maker Super Micro Computer filed recent quarterly and annual reports with the Securities and Exchange Commission, restoring its compliance with financial reporting requirements.
The steps removed a major overhang over Super Micro over recent months, during which its auditor resigned, saying it could no longer rely on management's representations.
Shares jumped 22% to $55.50 in post-market trading after closing down 12% to $45.54. The once high-flying stock had dropped 47% over the past year.
"Today's filings represent an important milestone," Chief Executive Charles Liang said Tuesday, adding that the resolution will allow the company to focus on its growth strategy and investments.
The filings -- two quarterly reports from 2024 and an annual report for 2024 -- came two weeks after Super Micro Computer reported preliminary earnings for the fourth quarter. At the time, it said it was working diligently to have its quarterly and annual reports finalized.
Super Micro says it is now current with its SEC financial reporting obligations and that there were no restatements of previously filed financial statements. It also said it regained compliance with Nasdaq filing requirements.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 25, 2025 18:13 ET (23:13 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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