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Primeur weekly 2013-08-12

Special

Hybrid architectures and stream computing are becoming the norm in life sciences ...

Focus

UberCloud successful in bringing HPC Cloud to SMEs - and interview with Wolfgang Gentzsch ...

The Cloud

New IBM Flex Systems allow clients to build larger Clouds in smaller data centres ...

Orion Health chooses HP to support managed health services ...

Oracle Enterprise Manager 12c delivers comprehensive management for Oracle Database 12c ...

Capitalonline taps IBM to offer enhanced Cloud services ...

IBM to help Geraldton become smarter, more sustainable city with new Cloud data centre ...

Adaptive Computing unveils Moab Cloud Optimizer Integration for HP Cloud Service Automation 3.2 ...

EuroFlash

Putting Big Data into Perspective ...

Magnetic switching simplified ...

Quantum communication controlled by resonance in 'artificial atoms' ...

Skoda Auto selects SGI ICE X and SGI UV 2000 HPC systems to accelerate automotive innovation ...

ClusterVision strengthens commercial teams in the UK and Germany ...

Wroclaw University Library turns to IBM Big Data solution to preserve European heritage, open digital archives to the world ...

USFlash

Fujitsu receives order for new supercomputer system from Canon ...

IBM Research creates new foundation to program SyNAPSE chips ...

Google, IBM, Mellanox, NVIDIA, and Tyan announce development group for data centres ...

HP helps New Zealand Government Council boost employee productivity ...

Cray names John Josephakis Vice President of Worldwide Sales ...

CSIRO takes charge of Australia's information overload ...

Supercomputer-enabled metagenomic research explores ecosystems in oceans and microbes in the human esophagus ...

Speed limit set for ultrafast electrical switch ...

SGI reports fourth quarter and fiscal year 2013 financial results ...

NVIDIA reports financial results for second quarter fiscal 2014 ...

How superbug spreads among regional hospitals: a domino effect ...

SGI reports fourth quarter and fiscal year 2013 financial results

7 Aug 2013 Fremont - SGI, an expert in technical computing and Big Data, has 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.

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", stated 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 include the following:

  • Skoda Auto has selected SGI ICE X and SGI UVTM 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, 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.
  • 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 centre.
  • 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 health care and environmental projects.

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.
Source: Rackable Systems

Back to Table of contents

Primeur weekly 2013-08-12

Special

Hybrid architectures and stream computing are becoming the norm in life sciences ...

Focus

UberCloud successful in bringing HPC Cloud to SMEs - and interview with Wolfgang Gentzsch ...

The Cloud

New IBM Flex Systems allow clients to build larger Clouds in smaller data centres ...

Orion Health chooses HP to support managed health services ...

Oracle Enterprise Manager 12c delivers comprehensive management for Oracle Database 12c ...

Capitalonline taps IBM to offer enhanced Cloud services ...

IBM to help Geraldton become smarter, more sustainable city with new Cloud data centre ...

Adaptive Computing unveils Moab Cloud Optimizer Integration for HP Cloud Service Automation 3.2 ...

EuroFlash

Putting Big Data into Perspective ...

Magnetic switching simplified ...

Quantum communication controlled by resonance in 'artificial atoms' ...

Skoda Auto selects SGI ICE X and SGI UV 2000 HPC systems to accelerate automotive innovation ...

ClusterVision strengthens commercial teams in the UK and Germany ...

Wroclaw University Library turns to IBM Big Data solution to preserve European heritage, open digital archives to the world ...

USFlash

Fujitsu receives order for new supercomputer system from Canon ...

IBM Research creates new foundation to program SyNAPSE chips ...

Google, IBM, Mellanox, NVIDIA, and Tyan announce development group for data centres ...

HP helps New Zealand Government Council boost employee productivity ...

Cray names John Josephakis Vice President of Worldwide Sales ...

CSIRO takes charge of Australia's information overload ...

Supercomputer-enabled metagenomic research explores ecosystems in oceans and microbes in the human esophagus ...

Speed limit set for ultrafast electrical switch ...

SGI reports fourth quarter and fiscal year 2013 financial results ...

NVIDIA reports financial results for second quarter fiscal 2014 ...

How superbug spreads among regional hospitals: a domino effect ...