SGI Reports Fourth Quarter and Fiscal Year 2013 Financial Results

                                                                            
                                                                            
                    Silicon Graphics International Corp.                    
               UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS              
                               (In thousands)                               
                                                                            
                                                      June 28,     June 29, 
                                                        2013         2012   
                                                    -----------  -----------
                       ASSETS                                               
Current assets:                                                             
  Cash and cash equivalents                         $   175,181  $   104,851
  Current portion of restricted cash                        531          980
  Accounts receivable, net                               59,842       98,293
  Inventories                                            61,770      123,391
  Deferred cost of revenue                               21,204       49,407
  Prepaid expenses and other current assets              14,094       18,443
                                                    -----------  -----------
    Total current assets                                332,622      395,365
Non-current portion of restricted cash                    2,853        3,088
Property and equipment, net                              26,170       27,404
Intangible assets, net                                    4,643        8,675
Non-current portion of deferred cost of revenue           7,281       17,466
Other assets                                             34,284       44,882
                                                    -----------  -----------
      Total assets                                  $   407,853  $   496,880
                                                    ===========  ===========
                                                                            
        LIABILITIES AND STOCKHOLDERS' EQUITY                                
Current liabilities:                                                                                                               
    Accounts  payable                                                                    $        51,531    $        69,448
    Credit  facility                                                                                          -              15,200
    Accrued  compensation                                                                      28,504              24,246
    Other  current  liabilities                                                            35,364              48,587
    Current  portion  of  deferred  revenue                                        86,357            124,924
                                                                                                        -----------    -----------
        Total  current  liabilities                                                      201,756            282,405
Non-current  portion  of  deferred  revenue                                    50,362              64,717
Long-term  income  taxes  payable                                                      10,149              20,568
Retirement  benefit  obligations                                                      11,542              11,484
Other  non-current  liabilities                                                          3,790                6,814
                                                                                                        -----------    -----------
        Total  liabilities                                                                      277,599            385,988
                                                                                                                                                        
Stockholders'  equity                                                                        130,254            110,892
                                                                                                        -----------    -----------
            Total  liabilities  and  stockholders'  equity        $      407,853    $      496,880
                                                                                                        ===========    ===========
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
                                        Silicon  Graphics  International  Corp.                                        
                RECONCILIATION  OF  SELECTED  GAAP  MEASURES  TO  NON-GAAP  MEASURES              
                                        (In  thousands,  except  per  share  data)                                      
                                                                  (Unaudited)                                                                
                                                                                                                                                        
                                                                                    Three  Months  Ended                                
                                                      ------------------------------------------------  
                                                                                          June  28,  2013                                    
                                                                                                                                                        
                                                            Net                                                                                      
                                                        (Loss)                              Gross      Gross        Operating  
                                                        Income            EPS          Profit      Margin      Expenses    
                                                      --------    --------    --------  -------    ----------  
GAAP                                              $  (4,465)  $    (0.13)  $  46,786            27%  $      52,053  
                                                                                                                                                        
    Share-based                                                                                                                              
      compensation  in  cost                                                                                                          
      of  revenue                      (1)          336            0.01              336              0%                    -  
    Share-based                                                                                                                              
      compensation  in                                                                                                                    
      operating  expenses      (1)      1,948            0.06                  -              -            (1,948)
    Amortization  of                                                                                                                      
      intangibles  in  cost                                                                                                            
      of  revenue                      (1)          255            0.01              255              0%                    -  
    Amortization  of                                                                                                                      
      intangibles  in                                                                                                                      
      operating  expenses      (1)          615            0.02                  -              -                (615)
    Restructuring  and                                                                                                                  
      severance  in  cost  of                                                                                                          
      revenue                            (2)          872            0.02              872              1%                    -  
    Restructuring  and                                                                                                                  
      severance  in                                                                                                                          
      operating  expenses      (2)      5,936            0.17                  -              -            (5,936)
    Other  non-recurring                                                                                                              
      items  in  cost  of                                                                                                                  
      revenue                            (2)          161                  -              161              0%                    -  
    Other  non-recurring                                                                                                              
      items  in  operating                                                                                                              
      expenses                          (2)          220            0.01                  -              0%              (220)
    Canada  tax  benefits      (2)              -                  -                  -              -                      -  
                                                      --------    --------    --------  -------    ----------  
Non-GAAP                                      $    5,878    $      0.17    $  48,410            28%  $      43,334  
                                                      ========    ========    ========  =======    ==========  
                                                                                                                                                        
Weighted  average  shares                                                                                                          
  used  in  computing:                                                                                                                  
        Basic  net  income                                                                                                                
          (loss)  per  share                                    33,859                                                              
        Dilutive  net  income                                                                                                          
          (loss)  per  share                                    35,000                                                              

                                                                                                                                                    
                                                                                Twelve  Months  Ended                              
                                                  ------------------------------------------------  
                                                                                      June  28,  2013                                    
                                                                                                                                                    
                                                        Net                                                                                      
                                                    (Loss)                              Gross      Gross        Operating  
                                                    Income            EPS          Profit      Margin      Expenses    
                                                  --------    --------    --------  -------    ----------  
GAAP                                          $  (2,820)  $    (0.09)  $189,052            25%  $    202,706  
                                                                                                                                                    
    Share-based                                                                                                                          
      compensation  in  cost                                                                                                      
      of  revenue                              1,598            0.05          1,598              0%                    -  
    Share-based                                                                                                                          
      compensation  in                                                                                                                
      operating  expenses              8,502            0.25                  -              -            (8,502)
    Amortization  of                                                                                                                  
      intangibles  in  cost                                                                                                        
      of  revenue                              1,033            0.03          1,033              0%                    -  
    Amortization  of                                                                                                                  
      intangibles  in                                                                                                                  
      operating  expenses              2,676            0.08                  -              -            (2,676)
    Restructuring  and                                                                                                              
      severance  in  cost  of                                                                                                      
      revenue                                    1,865            0.06          1,865              0%                    -  
    Restructuring  and                                                                                                              
      severance  in                                                                                                                      
      operating  expenses            12,100            0.36                  -              -          (12,100)
    Other  non-recurring                                                                                                          
      items  in  cost  of                                                                                                              
      revenue                                        161                  -              161              0%                    -  
    Other  non-recurring                                                                                                          
      items  in  operating                                                                                                          
      expenses                                    (218)        (0.01)                -              -                  218  
    Canada  tax  benefits          (12,736)        (0.37)                -              -                      -  
                                                  --------    --------    --------  -------    ----------  
Non-GAAP                                  $  12,161    $      0.36    $193,709            25%  $    179,646  
                                                  ========    ========    ========  =======    ==========  
                                                                                                                                                    
Weighted  average  shares                                                                                                      
  used  in  computing:                                                                                                              
        Basic  net  income                                                                                                            
          (loss)  per  share                                32,909                                                              
        Dilutive  net  income                                                                                                      
          (loss)  per  share                                33,814                                                              
                                                                                                                                                        
                                                                                  Three  Months  Ended                                  
                                                  --------------------------------------------------  
                                                                                        June  29,  2012                                      
                                                                                                                                                        
                                                        Net                                Gross        Gross          Operating  
                                                      Loss              EPS          Profit        Margin        Expenses    
                                                  --------    --------    --------    -------      ----------  
GAAP                                          $(18,386)  $    (0.58)  $  37,486              21%    $      53,122  
                                                                                                                                                        
    Share-based                                                                                                                              
      compensation  in                                                                                                                    
      cost  of  revenue        (1)          323            0.01              323                0%                      -  
    Share-based                                                                                                                              
      compensation  in                                                                                                                    
      operating  expenses  (1)      1,813            0.06                  -                -              (1,813)
    Amortization  of                                                                                                                      
      intangibles  in  cost                                                                                                            
      of  revenue                  (1)          371            0.01              371                0%                      -  
    Amortization  of                                                                                                                      
      intangibles  in                                                                                                                      
      operating  expenses  (1)          696            0.03                  -                -                  (696)
    Restructuring  and                                                                                                                  
      severance  in  cost                                                                                                                
      of  revenue                  (2)          148                  -              148                0%                      -  
    Restructuring  and                                                                                                                  
      severance  in                                                                                                                          
      operating  expenses  (2)      2,811            0.09                  -                0%            (2,811)
    Excess  and  obsolete                                                                                                              
      inventory  write-off                                                                                                            
      in  cost  of  revenue  (2)    10,135            0.32        10,135                6%                      -  
    Other  non-recurring                                                                                                              
      items  in  costs  of                                                                                                                
      revenue                        (2)    (1,222)        (0.04)      (1,222)            (1)%                    -  
    Other  non-recurring                                                                                                              
      items  in  operating                                                                                                              
      expenses                      (2)              -                  -                  -                0%                      -  
                                                  --------    --------    --------    -------      ----------  
Non-GAAP                                  $  (3,311)  $    (0.10)  $  47,241              26%    $      47,802  
                                                  ========    ========    ========    =======      ==========  
                                                                                                                                                        
Weighted  average                                                                                                                        
  shares  used  in                                                                                                                          
  computing:                                                                                                                                  
        Basic  net  income                                                                                                                
          (loss)  per  share                                31,947                                                                  
        Dilutive  net                                                                                                                        
          income  (loss)  per                                                                                                            
          share                                                      31,947                                                                  
                                                                                                                                                        

                                                                                                                                                  
                                                                            Twelve  Months  Ended                                
                                              -------------------------------------------------  
                                                                                  June  29,  2012                                      
                                                                                                                                                  
                                                    Net                                                                                        
                                                (Loss)                              Gross        Gross        Operating  
                                                Income            EPS          Profit        Margin      Expenses    
                                              --------    --------    --------    -------    ----------  
GAAP                                      $(24,461)  $    (0.77)  $193,817              26%  $    215,260  
                                                                                                                                                  
    Share-based                                                                                                                        
      compensation  in                                                                                                              
      cost  of  revenue                1,358            0.04          1,358                0%                    -  
    Share-based                                                                                                                        
      compensation  in                                                                                                              
      operating  expenses          8,703            0.28                  -                0%          (8,703)
    Amortization  of                                                                                                                
      intangibles  in  cost                                                                                                      
      of  revenue                          1,736            0.05          1,736                0%                    -  
    Amortization  of                                                                                                                
      intangibles  in                                                                                                                
      operating  expenses          3,454            0.11                  -                0%          (3,454)
    Restructuring  and                                                                                                            
      severance  in  cost                                                                                                          
      of  revenue                              148            0.00              148                0%                    -  
    Restructuring  and                                                                                                            
      severance  in                                                                                                                    
      operating  expenses          2,944            0.10                  -                0%          (2,944)
    Excess  and  obsolete                                                                                                        
      inventory  write-off                                                                                                      
      in  cost  of  revenue        10,135            0.32        10,135                1%                    -  
    Other  non-recurring                                                                                                        
      items  in  costs  of                                                                                                          
      revenue                              (1,222)        (0.04)      (1,222)              0%                    -  
    Other  non-recurring                                                                                                        
      items  in  operating                                                                                                        
      expenses                              1,000            0.03                  -                0%          (1,000)
                                              --------    --------    --------    -------    ----------  
Non-GAAP                              $    3,795    $      0.12    $205,972              27%  $    199,159  
                                              ========    ========    ========    =======    ==========  
                                                                                                                                                  
Weighted  average                                                                                                                  
  shares  used  in                                                                                                                    
  computing:                                                                                                                            
        Basic  net  income                                                                                                          
          (loss)  per  share                            31,653                                                                
        Dilutive  net                                                                                                                  
          income  (loss)  per                                                                                                      
          share                                                  31,653                                                                
                                                                                                                                                  
 

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