SGI Reports Fiscal Second Quarter 2016 Financial Results 

MILPITAS, Calif., Jan. 27 -- SGI (NASDAQ: SGI), a global leader in high performance solutions for compute, data analytics and data management, today reported financial results for its fiscal second quarter ended December 25, 2015. The data in this release is presented on both a GAAP and non-GAAP basis and a reconciliation of GAAP to non-GAAP measures is included in the financial tables in this press release.

Total revenue for the second quarter was $152 million compared to $138 million in the second quarter of 2015. GAAP net loss for the second quarter was $0.5 million, or $(0.01) per share compared with a net loss of $10 million, or $(0.30) per share in the second quarter of 2015. Non-GAAP net income in the second quarter was $5 million, or $0.14 per share compared with net income of $0.1 million, or breakeven per share in the same quarter a year ago.

"The second quarter results marked our return to non-GAAP profitability with improvements in both the top and bottom line," said Jorge Titinger, President and CEO. "We made significant progress in our high performance data analytics business as we surpassed $10 million in revenue this quarter. We also continued to gain traction winning large deals in HPC such as the recent NCAR award in the weather vertical."

Recent Highlights

• The National Center for Atmospheric Research ("NCAR") selected SGI's ICE XA to build one of the world's most advanced computer systems that will be used to develop models able to predict climate change and severe weather events on a global scale well into the future.
• SGI delivered and put in production one of the fastest supercomputers in Latin America to CINVESTAV, which is expected to rank in the TOP500 supercomputers in the world. This new supercomputer will be used for modeling and research in earth and life sciences and was selected for its leading energy efficiency and flexible compute power.
• The Nagaoka University of Technology recently chose SGI's family of servers for its Information Processing Centre. As demand outpaced capacity, the SGI solution was the preferred choice for the university to significantly improve both performance and capacity for its users.

Outlook 

Consistent with its previously provided outlook for the full year, the company continues to expect:

For the third quarter, we expect to be profitable on a non-GAAP basis at approximately $140 million in revenue.

Conference Call and Webcast

SGI's second quarter fiscal 2016 financial results conference call is scheduled to take place on Wednesday, January 27, 2016 at 1:30 p.m. PT (4:30 p.m. ET). A live webcast of the company's earnings conference call will be available simultaneously on the Investor Relations section of the company's website at investors.sgi.com. A replay of the webcast will also be available approximately two hours after the conclusion of the conference call and will remain available until next quarter.

The earnings conference call can also be accessed by dialing (888) 463-5422 (toll-free) or (970) 315-0484 (international) and entering the confirmation code: 17957979. An audio replay of the conference call will also be made available approximately two hours after the conclusion of the call. The audio replay will remain available for five days and can be accessed by dialing (855) 859-2056 (toll-free) or (404) 537-3406 (international) and entering the confirmation code: 17957979.

About SGI

SGI is a global leader in high performance solutions for compute, data analytics and data management that enable customers to accelerate time to discovery, innovation and profitability. Visit sgi.com for more information.

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Source: SGI