04:44 PM EDT, 04/09/2024 (MT Newswires) -- SMART Global Holdings ( SGH ) reported fiscal Q2 non-GAAP earnings late Tuesday of $0.27 per diluted share, down from $0.87 a year earlier.

Analysts surveyed by Capital IQ expected $0.25.

Net sales for the quarter ended March 1 were $284.8 million, down from $388.4 million a year earlier.

Analysts surveyed by Capital IQ expected $285.1 million.

The company said it expects fiscal Q3 non-GAAP EPS of $0.30, plus or minus $0.15. Analysts surveyed by Capital IQ expect $0.29. The company expects sales for the quarter of $300 million, plus or minus $25 million. Analysts surveyed by Capital IQ expect $310.4 million.

Shares of the company dropped more than 11% in after-hours trading.

Price: 23.04, Change: -2.88, Percent Change: -11.11