SOURCE: SGI

SGI

August 07, 2013 16:01 ET

SGI Reports Fourth Quarter and Fiscal Year 2013 Financial Results

FREMONT, CA--(Marketwired - Aug 7, 2013) - SGI (NASDAQ: SGI), the trusted leader in technical computing and Big Data, today reported financial results for its fiscal fourth quarter and year ended June 28, 2013.

Total revenue for the fiscal fourth quarter was $171 million, which compares with $233 million in the previous quarter and $179 million in the fiscal fourth quarter of 2012. For fiscal year 2013, total revenue was $767 million, an increase of 2% from $753 million in fiscal year 2012.

GAAP net loss for the fiscal fourth quarter was $4 million, or $(0.13) per diluted share, which compares with net income of $9 million, or $0.27 per diluted share, in the prior quarter, and a net loss of $18 million, or $(0.58) per diluted share, in the fourth quarter of fiscal 2012. Non-GAAP net income for the quarter was $6 million, or $0.17 per diluted share, which compares with non-GAAP net income of $6 million, or $0.18 per diluted share, in the prior quarter and a non-GAAP net loss of $3 million, or $(0.10) per diluted share, in the year-ago period.

For fiscal year 2013, GAAP net loss was $3 million, or $(0.09) per diluted share, which compares with a net loss of $24 million, or $(0.77) per diluted share in fiscal 2012. On a non-GAAP basis, the company reported full-year net income of $12 million, or $0.36 per diluted share, which compares with net income of $4 million, or $0.12 per diluted share in fiscal 2012.

A reconciliation of the company's GAAP to non-GAAP results is included in the tables accompanying this press release.

Cash as of the end of the fiscal fourth quarter was $179 million, which compares with $153 million for the prior quarter and $94 million (net of debt outstanding) as of the same period a year ago.

"We achieved another solid financial quarter, capping a year in which we tripled non-GAAP net income and nearly doubled the company's net cash balance, while repositioning SGI for more profitable growth in fiscal 2014," said Jorge Titinger, president and CEO of SGI. "In fiscal year 2014, we expect to achieve solid double-digit revenue growth in our core high-performance computing (HPC), storage, and Big Data solutions, while managing the run-off of our lower margin legacy cloud infrastructure business. We are on track with our operational and financial objectives for the year, including further improvement in profitability, however because of the timing of many large deal opportunities as well as the ramp of new products, we expect our financial performance to be weighted toward the second half of the fiscal year."

Recent Highlights

  • SGI announced on August 5 that SKODA Auto has selected SGI® ICE X and SGI® UV™ 2000 computing systems to augment its computer-aided engineering (CAE) system. The new systems allow engineers to reduce processing time and improve design efficiency, quality and safety, speeding up the development process and making it even more cost effective.
  • On July 1, SGI selected Jabil as its primary global manufacturing services and supply chain management provider, subject to completion of definitive agreements.
  • Princeton University announced on June 24 that it deployed SGI Rackable® servers in the Department of Geosciences to drive next-generation earthquake research.
  • On June 17, SGI announced that the United States Department of Defense (DoD) has deployed the SGI ICE X HPC system for its supercomputer Spirit, making it the 14th fastest supercomputer in the world according to TOP500 (www.top500.org).
  • Translational Research Institute (TRI) in Australia announced on June 4 that it has selected SGI to provide a big data HPC solution powered by SGI UV 2000 shared memory platform, SGI® Rackable clusters and SGI® InfiniteStorage™ to accelerate results at its new state-of-the-art research center.
  • On May 23, NASA's Ames Research Center announced that it has selected an SGI UV 2000 shared memory system to support more than a thousand active users around the country who are doing research for earth sciences, space and aeronautics missions.
  • CQUniversity Australia announced on May 6 that it has selected SGI to supply new HPC server and storage infrastructure to accelerate its research projects. With the deployment of the SGI Rackable HPC system, CQUniversity can now analyze, store and process big data in record time, increasing ROI and results for healthcare and environmental projects.

Outlook for Fiscal Q1 2014
The company provides technical computing solutions to large government, public, and commercial customers. Any given customer deal can include a varying mix of compute and storage hardware, software, and services, and generally will carry terms that result in most of the product revenue associated with the deal being recognized upon final shipment or acceptance of the system. The timing of final delivery or acceptance of large deals is difficult to predict and can cause significant swings in quarterly revenue. Management provides guidance on quarterly revenue and other items based on its current expectations of the timing of revenue and associated costs; however there can be no assurance that revenues and associated costs will be recognized according to expected schedules and management assumes no obligation to update its guidance if the timing of revenues or other circumstances in the business differ from current expectations.

For the first quarter ending September 27, 2013, the company is providing the following guidance:

  • Revenue for the first fiscal quarter is expected to be $160 million to $170 million.
  • GAAP net loss per diluted share for the first fiscal quarter is expected to be $(0.14) to $(0.07) and is expected to reflect approximately $7 million of total adjustments, including restructuring and severance charges, stock-based compensation expense, and intangibles amortization.
  • Non-GAAP net income per diluted share for the first fiscal quarter is expected to be $0.07 to $0.14 and is expected to exclude the $7 million of total adjustments mentioned above.

A live webcast of the earnings conference call will be available on the Investor Relations section of SGI's website at investors.sgi.com beginning at 1:30 p.m. PT (4:30 p.m. ET). A replay of the webcast will be available approximately two hours after the conclusion of the call and will remain available until the next earnings call.

The public can also listen to the earnings conference call by dialing (888) 463-5422 (toll-free) or (970) 315-0484 (international). An audio replay of the conference call will also be made available approximately two hours after the conclusion of the call. The audio replay will remain available for five days and can be accessed by dialing (855) 859-2056 (toll-free) or (404) 537-3406 (international) and entering the confirmation code: 18057562.

About SGI
SGI, the trusted leader in technical computing, is focused on helping customers solve their most demanding business and technology challenges. Visit www.sgi.com for more information.

Connect with SGI on Twitter (@sgi_corp), YouTube (youtube.com/sgicorp), Facebook (facebook.com/sgiglobal) and LinkedIn.

Cautionary Statement Regarding Forward Looking Statements
The statements made in this press release regarding projected financial results, financial objectives, and strategic plans, including SGI's 2014 first fiscal quarter financial guidance, anticipated growth and profitability, and certain statements made in the earnings conference call, are forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. Actual results could differ materially from those described by these statements due to a number of uncertainties, including, but not limited to:

  • Fluctuations in the buying patterns and sizes of customer orders from one quarter to the next;
  • Increased competition causing SGI to sell products or services at lower margins than expected;
  • Lengthy acceptance cycles of SGI's products by certain customers, development or product delivery delays, and delays in obtaining necessary components from suppliers;
  • The addition of new customers or loss of existing customers;
  • Customer concentration risks;
  • Substantial sales to U.S. government entities, which are subject to the government's budgetary constraints;
  • Write-offs of excess and obsolete inventory;
  • Unexpected changes in the price for, and the availability of, components from SGI's suppliers;
  • SGI's ability to enhance its products with new and better designs and functionality;
  • Actions taken by competitors, such as new product announcements or introductions or changes in pricing; and
  • Market acceptance of newer products.

In addition, SGI's actual revenue, earnings per share and other projections on a GAAP and non-GAAP basis for the fiscal quarter ending September 27, 2013 could differ materially from the targets stated under "Outlook for Fiscal Q1 2014" above for a number of reasons, including, but not limited to (i) application of the actual consolidated GAAP and non-GAAP tax rates for such periods, or judgment by management to increase or decrease an income tax asset or liability, (ii) a determination by SGI that any portion of its goodwill or intangible assets have become impaired, (iii) changes in the anticipated amount of employee stock-based compensation expense recognized on SGI's financial statements, (iv) increases or decreases to estimated capital expenditures, (v) changes driven by new accounting or tax rules, regulations, interpretations or guidance, (vi) changes in the anticipated amounts and timing of restructuring charges to be incurred and cost savings expected to be realized from our restructuring actions in Europe, (vii) charges or gains resulting from litigation or dispute settlement, and (viii) other risks as detailed in SGI's filings with the Securities and Exchange Commission ("SEC"), including those described in SGI's Annual Report on Form 10-K under the caption "Risk Factors" filed with the SEC on Sept. 10, 2012, which are available at the SEC's web site at http://www.sec.gov. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this announcement. SGI undertakes no obligation to update the information in this earnings release or the related earnings conference call, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Use of Non-GAAP Financial Measures
This press release and the related earnings conference call include financial measures that are not determined in accordance with U.S. general accepted accounting principles ("GAAP"), including non-GAAP gross profit and gross margin, non-GAAP operating expenses, non-GAAP net income (loss) and non-GAAP basic and diluted net income (loss) per share. These non-GAAP measures are not based on any comprehensive set of accounting rules or principles and management exercises judgment in determining which items should be excluded in the calculation of non-GAAP measures. In addition, these non-GAAP measures may be different from non-GAAP measures used by other companies. While we believe that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP, we believe that non-GAAP measures are valuable in evaluating the company's operating performance and analyzing our business operations. Management excludes the following items from one or more of non-GAAP measures: (1) share-based compensation; (2) amortization of intangible assets; (3) restructuring and severance charges; and (4) other non-recurring costs, including settlements and other items. These measures are adjusted as described in the reconciliation of GAAP and non-GAAP numbers at the end of this release, but these adjustments should not be construed as an inference that all of these adjustments or costs are unusual, infrequent or non-recurring.

In addition, management uses these non-GAAP financial measures to facilitate its review of the comparability of SGI's core operating performance on a period to period basis as well as to better understand the fundamental economics of a specific period's operational and financial performance. Management uses this view of SGI's operating performance for purposes of comparison with its business plan and individual operating budgets and allocations of resources.

Management also believes that the non-GAAP financial measures provide additional insight for analysts and investors in evaluating SGI's financial and operational performance in the same way that management evaluates the company's financial performance. However, these non-GAAP financial measures have limitations as an analytical tool, as they exclude the financial impact of transactions necessary or advisable for the conduct of SGI's business, such as the granting of equity compensation awards and are not intended to be an alternative to financial measures prepared in accordance with GAAP. Hence, to compensate for these limitations, management does not review these non-GAAP financial metrics in isolation from its GAAP results, nor should investors. Pursuant to the requirements of SEC Regulation G, a detailed reconciliation between SGI's GAAP and non-GAAP financial results is provided at the end of this press release. Investors are advised to carefully review and consider this information as well as the GAAP financial results that are disclosed in SGI's SEC filings.

© 2013 SGI. SGI and its product names and logos are trademarks or registered trademarks of Silicon Graphics International Corp. or its subsidiaries in the United States and/or other countries. All other trademarks are property of their respective holders.

                       
                       
Silicon Graphics International Corp.  
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS  
(In thousands, except per share amounts)  
                       
                       
  Three Months Ended     Twelve Months Ended  
  June 28,     June 29,     June 28,     June 29,  
  2013     2012     2013     2012  
                               
Revenue $ 170,532     $ 179,488     $ 767,227     $ 752,987  
Cost of revenue   123,746       142,002       578,175       559,170  
                               
Gross profit   46,786       37,486       189,052       193,817  
                               
Operating expenses:                              
  Research and development   15,594       14,929       60,611       62,356  
  Sales and marketing   19,671       21,692       78,730       88,414  
  General and administrative   12,821       14,161       54,317       62,021  
  Restructuring   3,967       2,340       9,048       2,469  
    Total operating expenses   52,053       53,122       202,706       215,260  
                               
Loss from operations   (5,267 )     (15,636 )     (13,654 )     (21,443 )
                               
  Interest income (expense), net   (33 )     (147 )     (311 )     (297 )
  Other income (expense), net   (225 )     (1,490 )     (1,478 )     (1,720 )
    Total other income (expense), net   (258 )     (1,637 )     (1,789 )     (2,017 )
Loss before income taxes   (5,525 )     (17,273 )     (15,443 )     (23,460 )
Income tax (benefit) provision   (1,060 )     1,113       (12,623 )     1,001  
                               
Net loss $ (4,465 )   $ (18,386 )   $ (2,820 )   $ (24,461 )
                               
Basic and diluted net loss per share $ (0.13 )   $ (0.58 )   $ (0.09 )   $ (0.77 )
                               
Shares used in computing basic and diluted net loss per share   33,859       31,947       32,909       31,653  
                               
Share-based compensation by category is as follows:                              
Cost of revenue $ 336     $ 323     $ 1,598     $ 1,358  
Research and development   504       390       2,250       1,938  
Sales and marketing   347       312       1,629       1,570  
General and administrative   1,097       1,111       4,623       5,195  
Total $ 2,284     $ 2,136     $ 10,100     $ 10,061  
                               
                               
                               
       
       
Silicon Graphics International Corp.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
       
  June 28,   June 29,
  2013   2012
ASSETS          
Current assets:          
  Cash and cash equivalents $ 175,181   $ 104,851
  Current portion of restricted cash   531     980
  Accounts receivable, net   59,842     98,293
  Inventories   61,770     123,391
  Deferred cost of revenue   21,204     49,407
  Prepaid expenses and other current assets   14,094     18,443
    Total current assets   332,622     395,365
Non-current portion of restricted cash   2,853     3,088
Property and equipment, net   26,170     27,404
Intangible assets, net   4,643     8,675
Non-current portion of deferred cost of revenue   7,281     17,466
Other assets   34,284     44,882
      Total assets $ 407,853   $ 496,880
           
LIABILITIES AND STOCKHOLDERS' EQUITY          
Current liabilities:          
  Accounts payable $ 51,531   $ 69,448
  Credit facility   -     15,200
  Accrued compensation   28,504     24,246
  Other current liabilities   35,364     48,587
  Current portion of deferred revenue   86,357     124,924
    Total current liabilities   201,756     282,405
Non-current portion of deferred revenue   50,362     64,717
Long-term income taxes payable   10,149     20,568
Retirement benefit obligations   11,542     11,484
Other non-current liabilities   3,790     6,814
    Total liabilities   277,599     385,988
           
Stockholders' equity   130,254     110,892
      Total liabilities and stockholders' equity $ 407,853   $ 496,880
           
           
           
Silicon Graphics International Corp.
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES
(In thousands, except per share data)
(Unaudited)
                                                           
      Three Months Ended     Twelve Months Ended  
      June 28, 2013     June 28, 2013  
               
      Net (Loss)
Income
    EPS     Gross Profit   Gross Margin     Operating
Expenses
    Net (Loss)
Income
    EPS     Gross Profit   Gross Margin     Operating
Expenses
 
GAAP     $ (4,465 )   $ (0.13 )   $ 46,786   27 %   $ 52,053     $ (2,820 )   $ (0.09 )   $ 189,052   25 %   $ 202,706  
                                                                           
  Share-based compensation in cost of revenue (1 )   336       0.01       336   0 %     -       1,598       0.05       1,598   0 %     -  
  Share-based compensation in operating expenses (1 )   1,948       0.06       -   -       (1,948 )     8,502       0.25       -   -       (8,502 )
  Amortization of intangibles in cost of revenue (1 )   255       0.01       255   0 %     -       1,033       0.03       1,033   0 %     -  
  Amortization of intangibles in operating expenses (1 )   615       0.02       -   -       (615 )     2,676       0.08       -   -       (2,676 )
  Restructuring and severance in cost of revenue (2 )   872       0.02       872   1 %     -       1,865       0.06       1,865   0 %     -  
  Restructuring and severance in operating expenses (2 )   5,936       0.17       -   -       (5,936 )     12,100       0.36       -   -       (12,100 )
  Other non-recurring items in cost of revenue (2 )   161       -       161   0 %     -       161       -       161   0 %     -  
  Other non-recurring items in operating expenses (2 )   220       0.01       -   0 %     (220 )     (218 )     (0.01 )     -   -       218  
  Canada tax benefits (2 )   -       -       -   -       -       (12,736 )     (0.37 )     -   -       -  
Non-GAAP     $ 5,878     $ 0.17     $ 48,410   28 %   $ 43,334     $ 12,161     $ 0.36     $ 193,709   25 %   $ 179,646  
                                                                           
Weighted average shares used in computing:                                                                          
    Basic net income (loss) per share               33,859                                   32,909                      
    Dilutive net income (loss) per share               35,000                                   33,814                      
                                                               
      Three Months Ended     Twelve Months Ended  
      June 29, 2012     June 29, 2012  
               
      Net
Loss
    EPS     Gross Profit     Gross Margin     Operating
Expenses
    Net (Loss)
Income
    EPS     Gross Profit     Gross Margin     Operating
Expenses
 
GAAP     $ (18,386 )   $ (0.58 )   $ 37,486     21 %   $ 53,122     $ (24,461 )   $ (0.77 )   $ 193,817     26 %   $ 215,260  
                                                                               
  Share-based compensation in cost of revenue (1 )   323       0.01       323     0 %     -       1,358       0.04       1,358     0 %     -  
  Share-based compensation in operating expenses (1 )   1,813       0.06       -     -       (1,813 )     8,703       0.28       -     0 %     (8,703 )
  Amortization of intangibles in cost of revenue (1 )   371       0.01       371     0 %     -       1,736       0.05       1,736     0 %     -  
  Amortization of intangibles in operating expenses (1 )   696       0.03       -     -       (696 )     3,454       0.11       -     0 %     (3,454 )
  Restructuring and severance in cost of revenue (2 )   148       -       148     0 %     -       148       0.00       148     0 %     -  
  Restructuring and severance in operating expenses (2 )   2,811       0.09       -     0 %     (2,811 )     2,944       0.10       -     0 %     (2,944 )
  Excess and obsolete inventory write-off in cost of revenue (2 )   10,135       0.32       10,135     6 %     -       10,135       0.32       10,135     1 %     -  
  Other non-recurring items in costs of revenue (2 )   (1,222 )     (0.04 )     (1,222 )   (1 )%     -       (1,222 )     (0.04 )     (1,222 )   0 %     -  
  Other non-recurring items in operating expenses (2 )   -       -       -     0 %     -       1,000       0.03       -     0 %     (1,000 )
Non-GAAP     $ (3,311 )   $ (0.10 )   $ 47,241     26 %   $ 47,802     $ 3,795     $ 0.12     $ 205,972     27 %   $ 199,159  
                                                                               
Weighted average shares used in computing:                                                                              
    Basic net income (loss) per share               31,947                                     31,653                        
    Dilutive net income (loss) per share               31,947                                     31,653                        
                                                                               
                                         
        Three Months Ended  
        March 29, 2013  
           
        Net Income     EPS     Gross Profit   Gross Margin     Operating
Expenses
 
GAAP       $ 9,224     $ 0.27     $ 52,492   23 %   $ 51,006  
                                      -  
  Share-based compensation in cost of revenue   (1 )   391       0.01       391   0 %     -  
  Share-based compensation in operating expenses   (1 )   2,418       0.07       -   -       (2,418 )
  Amortization of intangibles in cost of revenue   (1 )   255       0.01       255   0 %     -  
  Amortization of intangibles in operating expenses   (1 )   668       0.02       -   -       (668 )
  Restructuring and severance in cost of revenue   (2 )   98       -       98   0 %     -  
  Restructuring and severance in operating expenses   (2 )   1,646       0.05       -   -       (1,646 )
  Other non-recurring items in operating expenses   (2 )   -       -       -   -       -  
  Canada tax benefits   (2 )   (8,447 )     (0.25 )     -   -       -  
Non-GAAP       $ 6,253     $ 0.18     $ 53,236   23 %   $ 46,274  
                                         
Weighted average shares used in computing:                                        
    Basic net income (loss) per share                 33,201                      
    Dilutive net income (loss) per share                 34,467                      
 
NOTE: This presentation includes certain financial measures not in conformity with Generally Accepted Accounting Principles in the United States (non-GAAP measures). Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.
 
(1) Adjustments to exclude certain non-cash expenses such as share-based compensation and amortization of intangible assets.
 
(2) Adjustments to exclude the items discussed below because such items are either operating expenses which would not otherwise have been incurred by the company in the normal course of the company's business operations or are not reflective of the company's core results over time. These items may include recurring as well as non-recurring items.
 
  (a) Restructuring Charges and severance - Restructuring charges consist primarily of severance expense, facility closure and relocation costs.
 
  (b) Other non-recurring items include settlements and other items
 
 
           
Silicon Graphics International Corp.        
RECONCILIATION OF SELECTED GAAP MEASURES TO NON-GAAP MEASURES        
GAAP to NON-GAAP EARNINGS BEFORE INTEREST, TAXES, AND AMORTIZATION & DEPRECIATION        
(In thousands)        
(Unaudited)        
           
  Three Months Ended     Twelve Months Ended  
  June 28, 2013     June 28, 2013  
               
GAAP - Loss before income taxes $ (5,525 )   $ (15,443 )
               
  Adjustments of GAAP to Non-GAAP earnings before income taxes (*)   10,343       27,717  
               
Non - GAAP Income before income taxes   4,818       12,274  
  Depreciation   2,719       10,560  
  Interest income   (45 )     (208 )
  Interest expense   78       519  
Non-GAAP EBITDA $ 7,570     $ 23,145  
               
               
               
  Three Months Ended     Twelve Months Ended  
  June 29, 2012     June 29, 2012  
               
GAAP - Loss before income taxes $ (17,273 )   $ (23,460 )
               
  Adjustments of GAAP to Non-GAAP earnings before income taxes (*)   15,075       28,256  
               
Non - GAAP Loss before income taxes   (2,198 )     4,796  
  Depreciation   2,287       9,384  
  Interest income   (44 )     (275 )
  Interest expense   191       571  
Non-GAAP EBITDA $ 236     $ 14,476  
               
               
  Three Months Ended          
  March 29, 2013          
               
GAAP - Loss before income taxes $ 1,116          
               
  Adjustments of GAAP to Non-GAAP earnings before income taxes (*)   5,476          
               
Non - GAAP Income before income taxes   6,592          
  Depreciation   2,666          
  Interest income   (66 )        
  Interest expense   77          
Non-GAAP EBITDA $ 9,269          
               
(*) Refer to the Reconciliation of GAAP to Non-GAAP net income (loss) for further details          
           
           
           
SILICON GRAPHICS INTERNATIONAL CORP. AND SUBSIDIARIES
TRENDED FINANCIAL DATA
(In thousands, except per share amounts)
(Unaudited)
                                                 
    Q1 FY12     Q2 FY12     Q3 FY12     Q4 FY12     Q1 FY13     Q2 FY13     Q3 FY13     Q4 FY13  
                                                                 
Revenue                                                                
  Product Revenue   $ 128,952     $ 143,043     $ 150,239     $ 134,499     $ 146,315     $ 128,040     $ 187,140     $ 129,194  
  Service Revenue     49,943       52,171       49,151       44,989       46,566       43,186       45,448       41,338  
    Total revenue   $ 178,895     $ 195,214     $ 199,390     $ 179,488     $ 192,881     $ 171,226     $ 232,588     $ 170,532  
Cost of revenue                                                                
  Product   $ 99,767     $ 112,316     $ 121,263     $ 113,800     $ 122,597     $ 97,350     $ 152,523     $ 99,469  
  Service     26,489       30,715       26,617       28,202       28,074       26,312       27,573       24,277  
    Total cost of revenue   $ 126,257     $ 143,031     $ 147,880     $ 142,002     $ 150,671     $ 123,662     $ 180,096     $ 123,746  
Gross margin by Product and Service                                                                
  Product Gross Margin     22.6 %     21.5 %     19.3 %     15.4 %     16.2 %     24.0 %     18.5 %     23.0 %
  Service Gross Margin     47.0 %     41.1 %     45.8 %     37.3 %     39.7 %     39.1 %     39.3 %     41.3 %
    Total gross margin     29.4 %     26.7 %     25.8 %     20.9 %     21.9 %     27.8 %     22.6 %     27.4 %
                                                                 
    Total operating expenses   $ 55,006     $ 54,131     $ 53,001     $ 53,122     $ 49,203     $ 50,444     $ 51,006     $ 52,053  
                                                                 
Net (loss) income   $ (2,657 )   $ (2,256 )   $ (1,162 )   $ (18,386 )   $ (8,680 )   $ 1,101     $ 9,224     $ (4,465 )
                                                                 
Earnings per share                                                                
  Basic net (loss) income per share   $ (0.08 )   $ (0.07 )   $ (0.04 )   $ (0.58 )   $ (0.27 )   $ 0.03     $ 0.28     $ (0.13 )
  Diluted net (loss) income per share   $ (0.08 )   $ (0.07 )   $ (0.04 )   $ (0.58 )   $ (0.27 )   $ 0.03     $ 0.27     $ (0.13 )
Shares used in computing net (loss) income per share                                                                
  Basic     31,303       31,604       31,783       31,947       32,166       32,410       33,201       33,859  
  Diluted     31,303       31,604       31,783       31,947       32,166       32,778       34,467       33,859  
                                                                 
                                                                 
SILICON GRAPHICS INTERNATIONAL CORP. AND SUBSIDIARIES
TRENDED FINANCIAL DATA
(In thousands)
(Unaudited)
                                               
  Q1 FY12     Q2 FY12     Q3 FY12     Q4 FY12     Q1 FY13     Q2 FY13     Q3 FY13     Q4 FY13  
                                                               
Total Revenue                                                              
  Americas $ 112,392     $ 109,721     $ 128,321     $ 123,311     $ 123,385     $ 112,358     $ 142,215     $ 118,550  
  APJ   40,106       56,873       44,660       28,753       44,434       27,735       36,314       28,084  
  EMEA   26,397       28,620       26,409       27,424       25,062       31,133       54,059       23,898  
    Total revenue $ 178,895     $ 195,214     $ 199,390     $ 179,488     $ 192,881     $ 171,226     $ 232,588     $ 170,532  
Product Revenue                                                              
  Americas $ 89,056     $ 88,429     $ 107,580     $ 102,100     $ 101,642     $ 91,698     $ 119,341     $ 97,764  
  APJ   21,801       34,090       25,253       13,350       26,821       12,605       19,854       15,046  
  EMEA   18,095       20,524       17,406       19,049       17,852       23,737       47,945       16,384  
    Total product revenue $ 128,952     $ 143,043     $ 150,239     $ 134,499     $ 146,315     $ 128,040     $ 187,140     $ 129,194  
Service Revenue                                                              
  Americas $ 23,336     $ 21,292     $ 20,741     $ 21,212     $ 21,743     $ 20,660     $ 22,874     $ 20,786  
  APJ   18,305       22,783       19,407       15,403       17,613       15,130       16,460       13,038  
  EMEA   8,302       8,096       9,003       8,374       7,210       7,396       6,114       7,514  
    Total service revenue $ 49,943     $ 52,171     $ 49,151     $ 44,989     $ 46,566     $ 43,186     $ 45,448     $ 41,338  
Operating profit (loss) - GAAP                                                              
  Americas $ (133 )   $ 1,868     $ (2,083 )   $ (10,346 )   $ 1,576     $ 3,055     $ 8,374     $ 660  
  APJ   78       1,883       1,749       (332 )     (1,411 )     (1,265 )     3,018       (816 )
  EMEA   (2,313 )     (5,699 )     (1,157 )     (4,958 )     (7,158 )     (4,670 )     (9,906 )     (5,111 )
    Total operating (loss) profit $ (2,368 )   $ (1,948 )   $ (1,491 )   $ (15,636 )   $ (6,993 )   $ (2,880 )   $ 1,486     $ (5,267 )
                                                               

Contact Information