SGI Reports Third Quarter Fiscal Year 2013 Financial Results

SGI Reports Third Quarter Fiscal Year 2013 Financial Results

FREMONT, Calif., April 30, 2013 (GLOBE NEWSWIRE) -- SGI (Nasdaq:SGI), the
trusted leader in technical computing, today reported financial results for
its third fiscal quarter ended Mar. 29, 2013. Total revenue for the third
fiscal quarter was $233 million, which compares with $171 million in the
previous quarter and $199 million in the third fiscal quarter of 2012.

GAAP net income for the third quarter was $9 million, or $0.27 per diluted
share, which compares with net income of $1 million, or $0.03 per diluted
share, in the prior quarter, and a net loss of $1 million, or $(0.04) per
diluted share, in the third quarter of fiscal 2012. Non-GAAP net income for
the quarter was $6 million, or $0.18 per diluted share, which compares with
non-GAAP net income of $3 million, or $0.10 per diluted share, in the prior
quarter and non-GAAP net income of $4 million, or $0.11 per diluted share, in
the year-ago period. GAAP net income includes the impact of an $8 million
tax-related benefit, which is excluded from the non-GAAP results.

"We achieved another solid financial quarter with both revenue and non-GAAP
net income at the high end of our guidance, while improving our net cash
position by $25 million," said Jorge Titinger, president and CEO of SGI. "As
expected, in the third fiscal quarter we completed the last of the low-margin
deals (LMDs), which represented approximately $50 million of revenue in the
quarter and $65 million of revenue in the current fiscal year. With our
emphasis on improved deal quality as well as cost reductions, we are now
positioned to achieve consistent quarterly non-GAAP profitability and steady
progress toward our medium-term non-GAAP operating margin target of at least
5% exiting calendar year 2013. In addition, although we still see near-term
macro uncertainty related to both government and enterprise IT spending, we
are investing to enhance our total solution in high-growth markets such as Big
Data and high-performance Tier-2 storage, which positions SGI to grow
profitably off of its current non-LMD baseline."

Recent Highlights

  *iVEC and the Commonwealth Scientific and Industrial Research Organisation
    (CSIRO) announced on Apr. 29 that it has selected an SGI^®
    InfiniteStorage^TM and SGI UV^TM 2000 based solution to address the scale
    and cost-efficiency requirements for the centre's initiatives to support
    the Australian Square Kilometre Array Pathfinder and the Murchison
    Widefield Array radio astronomy facility.
  *On Apr. 22, SGI introduced SGI InfiniteStorage Gateway, a virtualized data
    management solution aimed at reducing the dependency on high-cost primary
    storage by creating a virtualized storage fabric that can include SSD,
    disk, tape, object, and cloud storage.
  *On Mar. 28, SGI was named as CRN's 5-Star partner for the fourth year in a
    row.
  *Total S.A., one of the largest oil and gas companies in the world,
    announced on Mar. 25 that it has selected the SGI ICE™ X High Performance
    Computing (HPC) system as the platform for its new supercomputer named
    "Pangea."
  *SGI announced on Mar. 11 that it named Bob Braham as Senior Vice President
    and Chief Marketing Officer.
  *On Mar. 6, the company introduced SGI InfiniteStorage™ 5600, a
    next-generation high-performance storage platform perfectly suited for
    high performance computing (HPC) and Big Data workloads.
  *On Feb. 27, SGI announced that Alison Ryan, its Global Channel Sales Vice
    President, was named one of UBM Tech Channel's CRN 2013 Channel Chiefs.
  *DownUnder GeoSolutions in Australia announced on Feb. 25 that it has
    selected SGI to provide upgraded high performance computing (HPC)
    infrastructure to accelerate results for its customers in the global oil
    and gas industry.

Outlook for Fiscal Q4 2013

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 fourth quarter ending June 28, 2013, the company is providing the
following guidance:

  *Revenue for the fourth fiscal quarter is expected to be $170 million to
    $185 million.
  *GAAP net loss per diluted share for the fourth fiscal quarter is expected
    to be $(0.34) to $(0.29), and is expected to reflect approximately $16
    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 fourth fiscal quarter is
    expected to be $0.12 to $0.17 and is expected to exclude the $16 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. The public
can also listen to the earnings conference call at 2:00 p.m. PT (5:00 p.m. ET)
by dialing (888) 463-5422 (toll-free) or (970) 315-0484 (international).

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.
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: 33034465.

About SGI

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

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 Q4 FY13
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, gross margin, earnings per share and other
projections on a GAAP and non-GAAP basis for the fiscal quarter ending June
28, 2013 could differ materially from the targets stated under "Outlook for
Fiscal Q4 2013" 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.

Contact Information:

SGI Investor Relations
John Swenson
+1-510-933-8370
jswenson@sgi.com

Ben Liao
+1-510-933-8430
bliao@sgi.com

© 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    Nine Months Ended
                                  March 29,  March 30,  March 29,  March 30,
                                  2013       2012       2013       2012
                                                                
Revenue                            $232,588 $199,390 $596,695 $573,499
Cost of revenue                    180,096   147,880   454,429   417,168
                                                                
Gross profit                       52,492    51,510    142,266   156,331
                                                                
Operating expenses:                                              
Research and development          15,518    14,982    45,017    47,427
Sales and marketing               19,824    21,824    59,059    66,722
General and administrative         14,924    16,176    41,496    47,860
Restructuring                     740       19        5,081     129
Total operating expenses           51,006    53,001    150,653   162,138
                                                                
Income (loss) from operations      1,486     (1,491)   (8,387)   (5,807)
                                                                
Interest income (expense), net     (11)      (126)     (278)     (150)
Other income (expense), net        (359)     913       (1,253)   (230)
Total other income (expense), net  (370)     787       (1,531)   (380)
Income (loss) before income taxes  1,116     (704)     (9,918)   (6,187)
Income tax (benefit) provision     (8,108)   458       (11,563)  (112)
                                                                
Net income (loss)                  $9,224   $(1,162) $1,645   $(6,075)
                                                                
Basic net income (loss) per share  $0.28    $(0.04)  $0.05    $(0.19)
Diluted net income (loss) per      $0.27    $(0.04)  $0.05    $(0.19)
share
                                                                
Shares used in computing basic net 33,201    31,783    32,593    31,557
income (loss) per share
Shares used in computing diluted   34,467    31,783    33,295    31,557
net income (loss) per share
                                                                
Share-based compensation by category is as                        
follows:
Cost of revenue                   $391     $368     $1,262   $1,035
Research and development          619       526       1,746     1,548
Sales and marketing               473       458       1,282     1,258
General and administrative        1,326     2,264     3,526     4,084
Total                             $2,809   $3,616   $7,816   $7,925



Silicon Graphics International Corp.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
                                                         
                                               March 29,  June 29,
                                               2013       2012
ASSETS                                                    
Current assets:                                           
Cash and cash equivalents                       $149,394 $104,851
Current portion of restricted cash              670       980
Accounts receivable, net                       98,577    98,293
Inventories                                     76,338    123,391
Deferred cost of revenue                        30,081    49,407
Prepaid expenses and other current assets       22,502    18,443
Total current assets                            377,562   395,365
Non-current portion of restricted cash         2,935     3,088
Property and equipment, net                     26,027    27,404
Intangible assets, net                          5,534     8,675
Non-current portion of deferred cost of revenue 9,719     17,466
Other assets                                    44,491    44,882
Total assets                                    $466,268 $496,880
                                                         
LIABILITIES AND STOCKHOLDERS' EQUITY                      
Current liabilities:                                      
Accounts payable                                $55,305  $69,448
Credit facility                                 --       15,200
Accrued compensation                            26,485    24,246
Other current liabilities                       54,543    48,587
Current portion of deferred revenue             112,465   124,924
Total current liabilities                       248,798   282,405
Non-current portion of deferred revenue         55,496    64,717
Long-term income taxes payable                  11,602    20,568
Retirement benefit obligations                  11,353    11,484
Other non-current liabilities                   4,604     6,814
Total liabilities                               331,853   385,988
                                                         
Stockholders' equity                            134,415   110,892
Total liabilities and stockholders' equity      $466,268 $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                                 Nine Months Ended
                March 29, 2013                                     March 29, 2013
                Net        EPS       Gross     Gross  Operating    Net        EPS       Gross      Gross  Operating
                  Income               Profit    Margin Expenses      Income               Profit     Margin Expenses
GAAP             $9,224   $0.27   $52,492 23%    $51,006    $1,645   $0.05   $142,266 24%    $150,653
                                                                                                 
Share-based
compensation  (1) 391       0.01     391      0%     --         1,262     0.03     1,262     0%     --
in cost of
revenue
Share-based
compensation  (1) 2,418     0.07     --      --   (2,418)     6,554     0.20     --       --   (6,554)
in operating
expenses
Amortization
of
intangibles   (1) 255       0.01     255      0%     --         778       0.02     778       0%     --
in cost of
revenue
Amortization
of
intangibles   (1) 668       0.02     --      --   (668)       2,061     0.06     --       --   (2,061)
in operating
expenses
Restructuring
and severance (2) 98        --      98       0%     --         993       0.03     993       0%     --
in cost of
revenue
Restructuring
and severance (2) 1,646     0.05     --      --   (1,646)     6,164     0.19     --       --   (6,164)
in operating
expenses
Other
non-recurring
items in      (2) --       --      --      0%     --         (438)     (0.01)   --       --   438
operating
expenses
Canada tax    (2) (8,447)   (0.25)   --      --   --         (12,736)  (0.38)   --       --   --
benefits
Non-GAAP         $6,253   $0.18   $53,236 23%    $46,274    $6,283   $0.19   $145,299 24%    $136,312
                                                                                                 
Weighted
average                                                                                           
shares used
in computing:
Basic net
income (loss)              33,201                                        32,593                   
per share
Dilutive net
income (loss)              34,467                                        33,295                   
per share
                                                                                                 

                Three Months Ended                                 Nine Months Ended
                March 30, 2012                                     March 30, 2012
                Net Income EPS       Gross     Gross  Operating    Net Income EPS       Gross      Gross  Operating
                  /(Loss)              Profit    Margin Expenses      /(Loss)              Profit     Margin Expenses
GAAP             $(1,162) $(0.04) $51,510 26%    $53,001    $(6,075) $(0.19) $156,331 27%    $162,138
                                                                                                 
Share-based
compensation  (1) 368       0.01     368      0%     --      (1) 1,035     0.04     1,035     0%     --
in cost of
revenue
Share-based
compensation  (1) 3,248     0.11     --      --   (3,248)  (1) 6,890     0.21     --       --   (6,890)
in operating
expenses
Amortization
of
intangibles   (1) 447       0.01     447      0%     --      (1) 1,365     0.04     1,365     1%     --
in cost of
revenue
Amortization
of
intangibles   (1) 759       0.02     --      --   (759)    (1) 2,758     0.09     --       --   (2,758)
in operating
expenses
Restructuring
and severance (2) --       --      --      --   --      (2) 133       --      --       --   (133)
in operating
expenses
Other
non-recurring
costs in      (2) --       --      --      --   --      (2) 1,000     0.03     --       --   (1,000)
operating
expenses
Non-GAAP        $3,660   $0.11   $52,325 26%    $48,994    $7,106   $0.22   $158,731 28%    $151,357
                                                                                                 
Weighted
average                                                                                           
shares used
in computing:
Basic net
income (loss)              31,783                                        31,557                   
per share
Dilutive net
income (loss)              32,504                                        32,625                   
per share
                                                                                                 
                                                                                                 
                Three Months Ended                                 
                December 28, 2012                                  
                Net        EPS       Gross     Gross  Operating                                       
                  Income               Profit    Margin Expenses
GAAP             $1,101   $0.03   $47,564 28%    $50,444                                       
                                                                                                 
Share-based
compensation  (1) 371       0.01     371      0%     --                                            
in cost of
revenue
Share-based
compensation  (1) 2,125     0.06     --            (2,125)                                        
in operating
expenses
Amortization
of
intangibles   (1) 255       0.01     255      0%     --                                            
in cost of
revenue
Amortization
of
intangibles   (1) 689       0.02     --      --   (689)                                          
in operating
expenses
Restructuring
and severance (2) 667       0.02     667      1%     --                                            
in cost of
revenue
Restructuring
and severance (2) 2,862     0.09     --      --   (2,862)                                        
in operating
expenses
Other
non-recurring
items in      (2) (438)     (0.01)   --      --   438                                            
operating
expenses
Canada tax    (2) (4,289)   (0.13)   --      --   --                                            
benefits
Non-GAAP        $3,343   $0.10   $48,857 29%    $45,206                                       
                                                                                                 
Weighted
average                                                                                           
shares used
in computing:
Basic net
income (loss)              32,410                                                                 
per share
Dilutive net
income (loss)              32,778                                                                 
per share

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 companyin 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
                                                           March 29, 2013
                                                           
GAAP - Income before income taxes                           $1,116
                                                           
Adjustments of GAAP to Non-GAAP earnings before income      5,476
taxes (*)
                                                           
Non - GAAP Income before income taxes                       6,592
Depreciation                                                2,666
Interest income                                             (66)
Interest expense                                            77
Non-GAAP EBITDA                                             $9,269
                                                           
                                                           
                                                           Three Months Ended
                                                           March 30, 2012
                                                           
GAAP - Loss before income taxes                             $(704)
                                                           
Adjustments of GAAP to Non-GAAP earnings before income      4,822
taxes (*)
                                                           
Non - GAAP Income before income taxes                       4,118
Depreciation                                                2,299
Interest income                                             (51)
Interest expense                                            177
Non-GAAP EBITDA                                             $6,543
                                                           
                                                           
                                                           Three Months Ended
                                                           December 28, 2012
                                                           
GAAP - Loss before income taxes                             $(2,779)
                                                           
Adjustments of GAAP to Non-GAAP earnings before income      6,531
taxes (*)
                                                           
Non - GAAP Income before income taxes                       3,752
Depreciation                                                2,649
Interest income                                             (54)
Interest expense                                            166
Non-GAAP EBITDA                                             $6,513
                                                           
(*) 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
                                                                      
Revenue                                                                
Product   $128,952 $143,043 $150,239 $134,499  $146,315 $128,040 $187,140
Revenue
Service   49,943    52,171    49,151    44,989     46,566    43,186    45,448
Revenue
Total     $178,895 $195,214 $199,390 $179,488  $192,881 $171,226 $232,588
revenue
Cost of                                                                
revenue
Product   $99,767  $112,316 $121,263 $113,800  $122,597 $97,350  $152,523
Service   26,489    30,715    26,617    28,202     28,074    26,312    27,573
Total
cost of   $126,257 $143,031 $147,880 $142,002  $150,671 $123,662 $180,096
revenue
Gross
margin by
Product                                                                
and
Service
Product
Gross     22.6%      21.5%      19.3%      15.4%       16.2%      24.0%      18.5%
Margin
Service
Gross     47.0%      41.1%      45.8%      37.3%       39.7%      39.1%      39.3%
Margin
Total
gross     29.4%      26.7%      25.8%      20.9%       21.9%      27.8%      22.6%
margin
                                                                      
Total
operating $55,006  $54,131  $53,001  $53,122   $49,203  $50,444  $51,006
expenses
                                                                      
Net
income    $(2,657) $(2,256) $(1,162) $(18,386) $(8,680) $1,101   $9,224
(loss)
                                                                      
Earnings                                                               
per share
Basic net
income    $(0.08)  $(0.07)  $(0.04)  $(0.58)   $(0.27)  $0.03    $0.28
(loss)
per share
Diluted
net
income    $(0.08)  $(0.07)  $(0.04)  $(0.58)   $(0.27)  $0.03    $0.27
(loss)
per share
Shares used in
computing                                                               
net income (loss)
per share
Basic     31,303    31,604    31,783    31,947     32,166    32,410    33,201
Diluted   31,303    31,604    31,783    31,947     32,166    32,778    34,467



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
                                                                      
Total                                                                  
Revenue
Americas  $112,392 $109,721 $128,321 $123,311  $123,385 $112,358 $142,215
APJ       40,106    56,873    44,660    28,753     44,434    27,735    36,314
EMEA      26,397    28,620    26,409    27,424     25,062    31,133    54,059
Total     $178,895 $195,214 $199,390 $179,488  $192,881 $171,226 $232,588
revenue
Product                                                                
Revenue
Americas  $89,056  $88,429  $107,580 $102,100  $101,642 $91,698  $119,341
APJ       21,801    34,090    25,253    13,350     26,821    12,605    19,854
EMEA      18,095    20,524    17,406    19,049     17,852    23,737    47,945
Total
product   $128,952 $143,043 $150,239 $134,499  $146,315 $128,040 $187,140
revenue
Service                                                                
Revenue
Americas  $23,336  $21,292  $20,741  $21,212   $21,743  $20,660  $22,874
APJ       18,305    22,783    19,407    15,403     17,613    15,130    16,460
EMEA      8,302     8,096     9,003     8,374      7,210     7,396     6,114
Total
service   $49,943  $52,171  $49,151  $44,989   $46,566  $43,186  $45,448
revenue
Operating
profit                                                                 
(loss) -
GAAP
Americas  $(133)   $1,868   $(2,083) $(10,346) $1,576   $3,055   $8,374
APJ       78        1,883     1,749     (332)      (1,411)   (1,265)   3,018
EMEA      (2,313)   (5,699)   (1,157)   (4,958)    (7,158)   (4,670)   (9,906)
Total
operating $(2,368) $(1,948) $(1,491) $(15,636) $(6,993) $(2,880) $1,486
profit
(loss)

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