Feeds

SGI “disappointed” with Q3

Loss narrows, but revenue falls too

  • alert
  • submit to reddit

Internet Security Threat Report 2014

SGI -- the computer company formerly known as Silicon Graphics -- was yesterday forced to admit its recovery programme was not going as smoothly as planned when it posted "disappointing" Q3 results, dispite a marked reduction in the amount of money it lost. The company posted a loss of $40 million for the quarter, ended . That's nearly a quarter of the $153 million it lost in the same period last year. However, revenue for the third quarter was $619 million, compared with $708 million in the same quarter a year ago. "These shortfalls mask the progress that we are continuing to make in other areas of our business, including strong new products, improved quality and operational efficiency, and lower expenses. We are focusing our efforts on generating demand in growing markets," said SGI's chairman and CEO, Richard Belluzzo. And, responding to analysts' predictions that SGI would make a profit in the current quarter, senior VP for corporate operations Bill Kelly told US newswires: "That's not going to happen." "Third quarter is not what we wanted it to be," he added. Still, the company continues to own 85 per cent of Risc processor manufacturer MIPS, and plans to divest itself of a good proportion of that stake. It had already planned to take its shareholding down to 65 per cent, but the latest figures may persude Belluzzo to sell more. It's a strategy working quite well over at Apple -- its recent profitable quarters have been boosted by ditching chunks of its stake in AMD Holdings. Apple and SGI, as companies long associated with creative computing, have much in common. Both ran into real trouble by failing to keep up with wider industry developments and, in many ways, relying on their userbase to stick with them and not opt to migrate to cheaper platforms. Both are now targetting more entry-level customers with designer hardware, and both are looking to the open source world to improve their software support. In SGI's case, that means adopting Linux, initially alongside its Windows NT-based offerings, launched earlier this year, and perhaps replacing NT as the company's core operating system. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Scrapping the Human Rights Act: What about privacy and freedom of expression?
Justice minister's attack to destroy ability to challenge state
DVLA website GOES TITSUP on day paper car tax discs retire
Welcome to GOV.UK - digital by de ... FAULT
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Hey Brit taxpayers. You just spent £4m on Central London ‘innovation playground’
Catapult me a Mojito, I feel an Digital Innovation coming on
EU probes Google’s Android omerta again: Talk now, or else
Spill those Android secrets, or we’ll fine you
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
EU to accuse Ireland of giving Apple an overly peachy tax deal – report
Probe expected to say single-digit rate was unlawful
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.