SGI warns: lower revenue, deeper loss
The high-end computer maker says revenue for the first quarter of fiscal 2005 will be lower than previously projected.
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Stephen Shankland worked at CNET from 1998 to 2024 and wrote about processors, digital photography, AI, quantum computing, computer science, materials science, supercomputers, drones, browsers, 3D printing, USB, and new computing technology in general. He has a soft spot in his heart for standards groups and I/O interfaces. His first big scoop was about radioactive cat poop.
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Silicon Graphics stock dropped 12 cents, or 8 percent, to $1.35 in midday trading Wednesday, a day after the company said its revenue would be lower and its losses deeper than earlier expected. However, because of a higher backlog, the high-end computer maker said it expects an increase in revenue for the current quarter, which ends in December.
Revenue for the first quarter of fiscal 2005, which ended Sept. 24, will be about $175 million instead of the previously projected range of $190 million to $210 million, SGI said. The net loss will be about $25 million instead of between $10 million and $20 million. SGI reports detailed financial results Oct. 19.
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