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SGI announces Q3 results; losses widen

SGI announced its Q3 financial results yesterday, tag teaming it with the 20,480 NASA system announcement and then bracing it with the PFLOPS deal announced today.

Evidently they were trying to soften the news that the company’s revenue dropped $11M from Q2, with losses widening from $30.8M in Q3 to $40.6M this quarter

One bright(er) spot was the growth of orders with grew 50% year over year, and backlogs

Backlog at the end of the third quarter of 2008 grew to $133.9 million compared to $95.8 million at the end of the second quarter of fiscal 2008, the highest backlog level in the past five quarters.

SGI stock is down over 10% in mid-afternoon trading today.

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