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SGI Reports FY2008 Second Quarter Financial Results, posts loss

SGI today announced its financial results from the second quarter of fiscal year 2008 [ending December 28, 2007].

SGI logoI’m very pleased with the continued growth in our order rate this quarter,” said Bo Ewald, SGI Chief Executive Officer. “We saw continuing momentum in our bookings, with an increase of 30 percent over Q1. We’ve also further strengthened our leadership team with the addition of Irene Qualters, who has joined SGI to lead the software organization and specifically drive our efforts to develop and productize the SGI Industrial Strength Linux Environment.”

A few highlights include:

  • Achieved bookings of $100 million; which constituted a 30 percent increase over Q1
  • Increased backlog by ~50 percent
  • Added key personnel to its leadership team
  • Secured major new wins: including HLRN and Total

[Addition by Ed.] The company is focusing on pro forma, rather than GAAP, results in most of its press material. GAAP results? They lost money, again, and more of it.

GAAP revenue for the second quarter was $90.1 million, compared to $91.1 million in the first quarter. The second quarter GAAP operating loss was $30.8 million, compared to $27.2 million in the first quarter of fiscal 2008. GAAP operating expenses were $58.6 million for the second quarter of 2008, as compared to $54.7 million for the first quarter of fiscal 2008.

Read the all the details from the disclosure here.

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