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SGI expects another dismal quarter

SGI said late Tuesday that weak sales in its fourth quarter will result in a wider-than-expected loss for the second quarter in a row.

The computer workstation maker said it now expects fourth-quarter sales of between $525 million to $535 million in the quarter, down from the $563.7 million it recorded in the third quarter.

It also said its loss will be larger than the current First Call Corp. consensus estimate of 8 cents a share, but wouldn't elaborate on just how much wider the loss will be.

Ahead of the warning, SGI (NYSE: SGI) shares closed unchanged at 3 3/4.

"Our early analysis of the results for this quarter shows that supply constraints on the desktop products, multiple product transitions and the imminent release of the third generation cc-NUMA product family reduced fourth quarter revenue levels," said CEO Bob Bishop in a prepared release.

SGI will announce its fourth-quarter results July 24 after the bell.

Last quarter, SGI missed Street estimates, losing $18.1 million, or 10 cents a share, on sales of $563.7 million.

SGI shares hit a 52-week high of 18 7/8 last July before falling to a low of 3 1/16 earlier this month.

Reflecting the company's dismal performance of late, all 13 analysts tracking the stock rate it a "hold."