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Silicon Graphics Warns of Lower Revenue

July 09, 2002|Bloomberg News

Silicon Graphics Inc., whose computers create digital images for training pilots and making movies, said its fourth-quarter sales would fall short of forecasts as customers reduce spending on its equipment.

The Mountain View, Calif.-based company said a preliminary review shows sales of $280 million to $290 million for the quarter, compared with a prior estimate of $310 million to $330 million.

It expects a loss of $20 million to $25 million for the quarter.

Shares of Silicon Graphics, which have more than doubled in the last year, closed off 13 cents at $2.45 on the New York Stock Exchange before the announcement.

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