SGI has officially reported their first quarter results for FY 2008. A few high notes:
- Bookings grew 40% over Q4 of FY 2007.
- Continued stability in pro forma results
- Achieved goals in revenue, expenses and cash
GAAP revenue for Q1 was $91.1 million, compared to that of Q4 at $122.3 million. GAAP operating expenses were down from $56.9 million in Q4 to $54.7 million in Q1 of 2008. Backlog for Q1 was $65 million, falling from $66.5 million in Q4 of 2007. Excluding two large transactions in Q4/07 and Q1/08, pro forma revenue was comparable for the two reporting quarters.
Read the full financial statement here.
– The 1Q 2008 loss was $27.2 million.
– The 4Q 2007 loss was $24.8 million.
– “…the largest single order being under $5M.”