SGH says Intelligent Platform Solutions revenue to be weighted toward H2 of 2024

In the company’s Q4 earnings call, CEO Mark Adams stated: As I’ve mentioned on prior calls, our IPS business, specifically with regards to HPC is lumpy in nature with high customer concentration. While we continue to deeply engage with our existing customers, we are also focused on reducing customer concentration over the next few years. We are prioritizing driving higher-quality revenue through a customer-focused products and services approach. We anticipate IPS revenue will be somewhat weighted towards the second half of fiscal year 2024 based on our current visibility, which is affected by factors such as timing of customer deployments, supply chain challenge and customer capital budgets. Shifting to memory. Our Memory Solutions Group, which operates under the SMART Modular brand is focused on enterprise Specialty Memory applications. In the fourth quarter, Specialty Memory revenue came in at $105 million or 33% of total SGH sales, and was relatively flat with the third quarter… While we are starting to see some early signs of price stabilization in the memory markets going into the first quarter of fiscal 2024, demand for specialty products is lower than expected. Inventories are elevated at a number of our key customers and lead times are lower, affecting customers’ buying patterns and making forecasting difficult. That said, qualifications of new products are progressing both for our 64-gigabyte DDR4 and our 32-gigabyte DDR5 very-low-profile or VLP RDIMM products.”