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SGI reports Q3 results; posts loss

SGI reported on 08 May that for their 3rd fiscal quarter ended 30 March 2007 the company lost money:

On a GAAP basis, revenue for the quarter was $111 million and operating loss was $20 million. GAAP gross margin was 33.0% and operating expenses were $57 million.

SGI ended the third quarter with $70 million in total unrestricted cash, compared with $75 million at the end of the second quarter of fiscal 2007. The company utilized approximately $6 million of cash during the quarter for the settlement of bankruptcy-related obligations. Availability under the company’s revolving line of credit was $30 million as of March 30, 2007 and no borrowings were made under the line during the quarter.

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