Super Micro Computer Inc. (SMCI) shares are soaring in extended trading Tuesday after the company provided strong preliminary results for the fourth quarter.

Super Micro announced its backlog grew to “record levels” after the company received total new orders of more than $60 billion during its fiscal fourth quarter. The company expects to deliver these new orders in future quarters.

Revenue for the fourth quarter is expected to come in close to the lower end of its prior guidance of $11 billion to $12.5 billion. However, the company said gross margins are now expected to be between 15% and 17%, which is significantly higher than prior guidance of 8.2% to 8.4%. The gross margin growth was attributed to favorable customer and product mix.

Super Micro will report earnings for the fourth quarter on Aug. 11.

SMCI Price Action: Super Micro shares were up 16.99% in after-hours, trading at $29.83 at the time of publication, according to market data.