SGI posts considerable loss

Mounyain View 20 Oct 99 Silicon Graphics announced its results for its fiscal first quarter ended September 30, 1999. Revenue for the first quarter was $585 million, a 5% decrease from the previous year. The Company's net loss for the first fiscal quarter was $213 million compared with a net loss of $44 million, in the same quarter a year ago.

The Company's first quarter results for fiscal 2000 included approximately $145 million in pretax restructuring charges related to the Company's reduction in force. Included in its cost of goods sold was an $86 million charge related to its reduced expectations for its 320 and 540 Visual Workstation product lines. Net loss for the quarter, excluding restructuring and special charges, was $68 million.

Cash, cash equivalents and marketable securities were $640 million at September 30, 1999, as compared to $782 million at June 30, 1999. The lower cash resulted from the Company's election to purchase the property it occupies in Mountain View, CA at substantially lower than market value and from ongoing share repurchase activity. The Company's consolidated backlog at September 30, 1999 was $333 million.

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