The server maker said it continues to work on matters related to its filings with the SEC, and now expects lower sales than it had previously guided for in its fiscal first quarter.

Super Micro Computer Inc. gave a sales forecast that fell short of analysts’ estimates while saying it couldn’t predict when it would file official financial statements for its previous fiscal year. The shares dropped about 16% in extended trading.

Super Micro says its special committee has so far found that its audit committee “acted independently and that there is no evidence of fraud or misconduct on the part of management” or the board.