Silicon Graphics (SGI) reported a first quarter loss of $77 million on revenue that fell by one-fifth year on year, but this was still better than analysts had expected.
The loss equalled 41 cents a share, 10 cents a share worse than last year's Q1 but four cents better than the First Call analyst consensus.
Richard Belluzzo, SGI's chief executive, said the company was making progress in moving into growth markets but admitted it "still had a way to go" to regain profitability. "Reporting a loss is never satisfying but I am very encouraged by the progress demonstrated in this quarter's results."
Revenue fell almost 20 per cent to $616 million.
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