SGI sees red
Print storyCouldn't close the deals, says Bishop
Posted in Servers, 20th April 2005 07:07 GMT
Increase your knowledge of the latest threats to your busines
SGI lost $45m in the most recent quarter, and offered the same reason IBM gave for its poor results last week.
Gross revenue in Q3 FY2005 was $159m, down from $212 million a year ago, when it reported an $8m loss. Product revenue was down $39m year on year to $78.7m.
CEO Bob Bishop echoed IBM chief Sam Palmisano for the poor performance. "Several major server and storage orders failed to close at the end of the quarter," he said in a statement.
SGI's recent history is one of steep losses and savage restructuring. Less than two years ago SGI was aiming for quarterly revenues of around $240m, while four years ago it was pulling in $500 million a quarter. Six years ago it was netting $760m a quarter.
The bad news, which the company had trailed earlier in the month, pushed SGI shares below $1. ®
Related stories
Intel misses Itanium sales mark by $26.6bn
Major server vendors in giant, supercomputing cluster cluck
SGI renders graphics kit full of Linux tools
Reducing messaging and web security costs with managed services
Can Outsiders Enhance Exchange?
The security implications of Web 2.0
The future of SaaS and IT infrastructure management
Modular Services - Can Dell Deliver?
Neon revs cost-cutting mainframeware
Symantec eliminates dedupe disparities
NetApp ponders getting off the pot, or...
EMC wins Data Domain with $2.1bn offer