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BUSINESS
January 5, 2001 | Bloomberg News
Silicon Graphics Inc., a maker of computer workstations, said it sold part of its headquarters property in Mountain View, Calif., to Goldman Sachs Group Inc. for $276 million as it raises cash by selling assets. The property encompasses 850,000 square feet of buildings that the company built in 1997. Silicon Graphics occupies all but a 120,000-square-foot building under construction. The sales price is about a third of Silicon Graphics' stock market value of about $765 million.
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BUSINESS
April 2, 2009 | TIMES WIRE REPORTS
Computer maker Silicon Graphics Inc. filed for bankruptcy protection for the second time in three years and agreed to sell most of its assets to Rackable Systems Inc. for $25 million. Shares of Silicon Graphics of Sunnyvale, Calif., plunged 23 cents to close at 18 cents. Shares of Rackable Systems, a Fremont, Calif., maker of server and data storage products, shed 18 cents to $3.88. In U.S. Bankruptcy Court documents, Silicon Graphics said it had been scrambling to find a buyer for months but couldn't secure a deal even after contacting about 150 potential suitors.
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BUSINESS
May 9, 2006 | From Reuters
Silicon Graphics Inc., known for computers that create special effects for Hollywood movies, filed for Chapter 11 bankruptcy protection. SGI said it expected to exit from Chapter 11 within six months. In its court filing, SGI said its business had been challenged by delays in introducing technology, a focus on more specialized markets and more intense competition. The Mountain View, Calif.
BUSINESS
May 9, 2006 | From Reuters
Silicon Graphics Inc., known for computers that create special effects for Hollywood movies, filed for Chapter 11 bankruptcy protection. SGI said it expected to exit from Chapter 11 within six months. In its court filing, SGI said its business had been challenged by delays in introducing technology, a focus on more specialized markets and more intense competition. The Mountain View, Calif.
BUSINESS
May 6, 1997 | (Bloomberg News)
Silicon Graphics Inc. said Chief Financial Officer Stanley J. Meresman and Michael Ramsey, a senior vice president, have resigned to pursue other opportunities as the company restructures. Meresman, 50, had been with the maker of high-end computers for eight years. William Kelly, senior vice president of corporate operations, will take over Meresman's duties until a replacement is found.
BUSINESS
January 24, 1998 | Associated Press
Silicon Graphics Inc. named the head of Hewlett-Packard Co.'s computer unit as its chairman and chief executive Friday in a bid to revive the flagging high-tech company. Richard Belluzzo, the No. 2 executive at Palo Alto-based HP, replaces Ed McCracken, who had announced that he would step down when the company chose a new CEO. Analysts lauded the choice of Belluzzo, who is expected to boost SGI with his no-nonsense management abilities.
BUSINESS
January 22, 2003 | From Reuters
Computer maker Silicon Graphics Inc. reported a fiscal second-quarter net loss, contrasted with a year-earlier profit, as revenue slid amid tough times in the technology industry. Mountain View, Calif.-based SGI posted a loss of $17 million, or 8 cents a share, for the period ended Dec. 27. Year-earlier net income was $49.3 million, or 24 cents. Revenue fell 28% to $262.7 million. Silicon Graphics shares rose 3 cents to $1.33 on the NYSE before the earnings announcement.
BUSINESS
April 21, 2004 | From Bloomberg News
Silicon Graphics Inc., which builds computers that create special effects and graphics, reported a narrower third-quarter loss as sales rose for the first time in almost five years. The net loss was $4.1 million, or 2 cents a share, compared with a loss of $35 million, or 17 cents, a year earlier, the Mountain View, Calif.-based company said. Sales rose 6% to $230.2 million. Silicon Graphics shares fell 44 cents to $2.40 in extended trading after the report. Earlier they fell 3 cents to $2.
BUSINESS
May 15, 1997 | (Reuters)
Silicon Graphics Inc. said it agreed to acquire ParaGraph International, a Campbell-based company that makes 3-D Internet software for personal computers. Mountain View-based Silicon Graphics also said it is establishing a company called Cosmo Software to focus on the fast-emerging market for interactive 3-D Internet software, which runs on multiple computer systems.
BUSINESS
January 22, 1992 | JONATHAN WEBER, TIMES STAFF WRITER
Compaq Computer and workstation vendor Silicon Graphics said Tuesday that they have dissolved a much-heralded alliance established last April to develop a next-generation personal computer, with Silicon Graphics agreeing to buy back the 13% of its shares now owned by Compaq. The move comes as Compaq's new chief executive, Ekhard Pfeiffer, struggles to establish a new direction for the troubled company after the ouster of company founder Joseph (Rod) Canion late last year.
BUSINESS
April 21, 2004 | From Bloomberg News
Silicon Graphics Inc., which builds computers that create special effects and graphics, reported a narrower third-quarter loss as sales rose for the first time in almost five years. The net loss was $4.1 million, or 2 cents a share, compared with a loss of $35 million, or 17 cents, a year earlier, the Mountain View, Calif.-based company said. Sales rose 6% to $230.2 million. Silicon Graphics shares fell 44 cents to $2.40 in extended trading after the report. Earlier they fell 3 cents to $2.
BUSINESS
May 23, 2003 | P.J. Huffstutter, Times Staff Writer
Computer hardware manufacturer Silicon Graphics Inc. cut nearly 10% of its staff Thursday to reduce costs as it struggles to find its place in an increasingly Linux-oriented world. The layoffs underscore how deep the troubles are for the onetime Silicon Valley powerhouse -- and how dim its future appears. Its sales, which peaked at nearly $3.7 billion in fiscal 1997, fell sharply to $1.3 billion last year.
BUSINESS
April 22, 2003 | From Reuters
Computer maker Silicon Graphics Inc. said Monday that it swung to a loss in its fiscal third quarter as revenue declined 31%. Silicon Graphics, also known as SGI, reported a net loss of $35 million, or 17 cents a share, in the quarter ended March 28, compared with net income of $10.3 million, or 5 cents, a year earlier. Revenue fell to $217.1 million from $313.6 million. The Mountain View, Calif.
BUSINESS
February 19, 2003 | From Bloomberg News
Silicon Graphics Inc., whose computers are used in missile-defense systems, said Tuesday that it won a $26-million contract from the Department of Defense. Its shares rose as much as 21%. The government ordered hardware, software and services for its High Performance Computing Modernization Program, which conducts simulations of weapons and weather, said Tony Celeste, director of Silicon Graphics' defense business.
BUSINESS
February 2, 2003 | P.J. Huffstutter, Times Staff Writer
A long time ago, in an economy far, far away, computer manufacturer Silicon Graphics Inc. was a powerful force. Hollywood studios courted its executives. They spent hundreds of millions of dollars on the company's colorful and whimsically named machines -- "Indigo," Crimson" and "Onyx," among others. The technology gave birth to a new breed of big-screen special effects, from the shape-shifting Terminator to the exploding White House in "Independence Day."
BUSINESS
January 22, 2003 | From Reuters
Computer maker Silicon Graphics Inc. reported a fiscal second-quarter net loss, contrasted with a year-earlier profit, as revenue slid amid tough times in the technology industry. Mountain View, Calif.-based SGI posted a loss of $17 million, or 8 cents a share, for the period ended Dec. 27. Year-earlier net income was $49.3 million, or 24 cents. Revenue fell 28% to $262.7 million. Silicon Graphics shares rose 3 cents to $1.33 on the NYSE before the earnings announcement.
BUSINESS
April 14, 1998 | From Reuters
Silicon Graphics Inc. will unveil a new strategy today aimed at rebuilding a market lost to competitors making cheaper computers. The presentation, to a group of analysts in New York, will be the first major announcement from Richard Belluzzo since he was named chief executive of the struggling computer maker in February. His new strategy is expected to include a licensing deal with Intel Corp. and a possible spin off of part of its MIPS microprocessor business.
BUSINESS
July 9, 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.
BUSINESS
May 14, 2002 | Bloomberg News
Silicon Graphics Inc., whose computers created images for movies such as "Shrek," agreed to pay $4 million in cash and 8 million shares worth $20.7 million to settle a class-action lawsuit that accused the company of artificially boosting its stock price. The company had paid 2.4 million shares to the plaintiffs' attorneys, the New York-based firm Milberg Weiss Bershad Hynes & Lerach.
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