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SGI Reports Third Quarter Fiscal Year 2013 Financial Results

Stocks in this article: SGI

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 ICEā„¢ 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 InfiniteStorageā„¢ 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.

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