MILPITAS, Calif., April 30 — SGI, a global leader in high performance solutions for compute, data analytics, and data management, today reported financial results for its fiscal third quarter 2015 ended March 27, 2015.
Total revenue for the fiscal third quarter was $119 million, a decrease of 14% from $138 million in the previous quarter and a decrease of 5% from $124 million in the third fiscal quarter of 2014.
GAAP net loss for the fiscal third quarter was $9 million, or $(0.25) per share, compared with a GAAP net loss of $10 million, or $(0.30) per share, in the prior quarter, and a GAAP net loss of $22 million, or $(0.64) per share, in the third quarter of fiscal 2014. Non-GAAP net loss for the quarter was $3.4 million, or $(0.10) per share, compared with a non-GAAP net income of $0.1 million, or breakeven per diluted share, in the prior quarter and a non-GAAP net loss of $7 million, or $(0.22) per share, in the year-ago period.
“Demand for our HPC solutions remained robust this quarter as bookings increased significantly, driven by multiple large program wins across the company, including our Federal business and international operations,” said Jorge Titinger, President and CEO of SGI. “In addition, we received certification for our UV solution for SAP HANA for up to 16-sockets, which represents a significant milestone as we position to capture share in the In-Memory market.”
“Looking at the fiscal year, it now appears likely that revenue for one of our large DoD projects will be delayed one quarter, adding to what we believe will be a strong first half of fiscal 2016. Overall, we remain encouraged by our progress in diversifying our HPC business, entering the In-Memory market with our UV products and continuing our focus on operational excellence,” continued Titinger.
Recent Highlights
- SGI’s Federal business continues to strengthen with significant successes across the intelligence community, the Department of Defense and multiple civilian agencies. SGI’s HPC and HPDA capabilities are providing mission focused capability and speeding time to insight and discovery. SGI has been awarded several large programs and contract vehicles with multi-year funding available for data analytics solutions, shared memory and cluster products.
- The fourth largest oil and gas company in the world, TOTAL S.A., selected SGI to upgrade its supercomputer “Pangea,” with a new ICE X system to increase Pangea with an additional 4.4 petaflops of compute power. With this upgrade, Pangea will continue to be the largest commercial supercomputer in the world.
- The UK Atomic Weapons Establishment (AWE) selected SGI’s record-breaking ICE XA systems for its new supercomputer to support complex scientific modeling at high resolution and faster processing speeds for research and development. This will be one of the first global customer installations of SGI ICE XA, taking energy efficiency and flexible packaging to new levels.
- The Japan Atomic Energy Agency awarded SGI a contract for its fully integrated, 2.4 petaflop, 35 rack ICE-X supercomputer and storage system for its comprehensive R&D institute dedicated to nuclear energy. This system will be the largest Intel Xeon-based supercomputer in Japan.
Fiscal Fourth Quarter and Full Year Guidance
- The company expects total revenue for its fiscal fourth quarter ending June 26, 2015 to be in the range of $130 million to $145 million.
- The company expects non-GAAP net loss for the fiscal fourth quarter is expected to be in the range of $4 to $8 million, or $(0.12) to $(0.24) per share after excluding approximately $5 million of recurring adjustments for stock-based compensation expense, restructuring and severance costs, intangibles amortization and other items. GAAP net loss for the fiscal fourth quarter to be in the range of $9 to $13 million, or $(0.26) to $(0.38) per share.
- The company expects total revenue for its fiscal year ending June 26, 2015 to be in the range of $500 million to $515 million.
About SGI
SGI is a global leader in high performance solutions for compute, data analytics and data management that enable customers to accelerate time to discovery, innovation and profitability. Visit sgi.com for more information.
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Source: SGI