SGI reports fiscal second quarter 2016 financial results
27 Jan 2016 Milpitas - SGI, a global expert in high performance solutions for compute, data analytics and data management, has reported financial results for its fiscal second quarter ended December 25, 2015. The data is presented on both a GAAP and non-GAAP basis.
Total revenue for the second quarter was $152 million compared to $138 million in the second quarter of 2015. GAAP net loss for the second quarter was $0.5 million, or $(0.01) per share compared with a net loss of $10 million, or $(0.30) per share in the second quarter of 2015. Non-GAAP net income in the second quarter was $5 million, or $0.14 per share compared with net income of $0.1 million, or breakeven per share in the same quarter a year ago.
"The second quarter results marked our return to non-GAAP profitability with improvements in both the top and bottom line", stated Jorge Titinger, President and CEO. "We made significant progress in our high performance data analytics business as we surpassed $10 million in revenue this quarter. We also continued to gain traction winning large deals in HPC such as the recent NCAR award in the weather vertical."
Recent highlights include the following:
- The National Center for Atmospheric Research (NCAR) selected SGI's ICE XA to build one of the world's most advanced computer systems that will be used to develop models able to predict climate change and severe weather events on a global scale well into the future.
- SGI delivered and put in production one of the fastest supercomputers in Latin America to CINVESTAV, which is expected to rank in the TOP500 supercomputers in the world. This new supercomputer will be used for modelling and research in earth and life sciences and was selected for its leading energy efficiency and flexible compute power.
- The Nagaoka University of Technology recently chose SGI's family of servers for its Information Processing Centre. As demand outpaced capacity, the SGI solution was the preferred choice for the university to significantly improve both performance and capacity for its users.
Consistent with its previously provided outlook for the full year, the company continues to expect:
- Revenue in the range of $600 to $625 million, or year-over-year growth of 15 - 20%;
- Non-GAAP gross margin between 26% and 27%;
- Non-GAAP operating expenses flat to down 5% year-over-year;
- Non-GAAP net income in the range of $0.25 to $0.35 per share after excluding approximately $17 million of adjustments; and
- GAAP net loss in the range of $(0.11) to $(0.21) per share.
For the third quarter, the company expects to be profitable on a non-GAAP basis at approximately $140 million in revenue.