Silicon Graphics announces financial results
Silicon Graphics International has announced preliminary financial results for the second quarter of fiscal year 2009. SGI is in the process of completing its FY2009 fiscal year-end audit, which will be impacted by purchase price accounting.
'Ninety days ago we completed the acquisition of Silicon Graphics, and, over this short period of time, I have become even more excited about how compelling the market opportunity is. The strategic rationale has been well received by our customers, employees and business partners,' stated Mark Barrenechea, president and CEO of SGI. 'Our integration is well under way and we are reaffirming our previously announced internal plan of $500 million in non-GAAP revenue.'
The company expects GAAP gross margin for the second quarter of 2009 to be in the range of 6-10 per cent, compared to 6.1 per cent for the first quarter of 2009 and 9.0 per cent in the second quarter of 2008. The company expects non-GAAP gross margin for the second quarter of 2009 to be in the range of 14-18 per cent, compared to 6.3 per cent for the first quarter of 2009 and 9.5 per cent in the second quarter of 2008.