SGI posts small net profit

Mountain View 28 Jul 99 SGI announced its results for its fourth quarter and fiscal year ended June 30, 1999. Revenue for the fourth quarter was $829 million, compared with $774 million in the same quarter a year ago. The company reported a net profit for the fourth quarter, including the company's gain on the secondary offering of shares of its MIPS Technologies subsidiary, of $158 million. Excluding the MIPS gain, the company's net income would have been $22 million.

Revenue for fiscal 1999 was $2.7 billion, compared with $3.1 billion for fiscal 1998. The company's net income for fiscal 1999 was $54 million or $0.28 per share, including gains from its initial and secondary offerings of portions of the company's interest in MIPS of $169 million, net of tax. Excluding the MIPS gain, the company's fiscal 1999 net loss was $115 million or $0.62 per share.

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