Shares in Silicon Graphics slipped more than six per cent yesterday on news that the company would only break even for its second fiscal quarter.
Although bookings are at a record $950 million, the workstation manufacturer has been unable to reach its expected level of shipments because of delays in manufacturing and problems introducing new machines.
Revenue for the quarter ended 31 December is expected to be approximately $825 million, over $70 million down on the combined revenue for Silicon Graphics and Cray Research in the comparable quarter last year (SGI acquired Cray last June). The company expects net earnings per share to be in the break even range, without counting charges arising from the Cray merger. Analysts had expected SGI to earn about 25 cents per share.
The company closed down 3/4 to 25 1/8 on the New York Stock Exchange on Tuesday. Actual results for the quarter will be released on 23 January.
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