Silicon Graphics crawls to black

NEW YORK: Computer maker Silicon Graphics Inc. said its fiscal third-quarter loss narrowed, driven by cost cutting.

Mountain View, California-based Silicon Graphics, which was best known in the 1990s for its high-end computers, reported a net loss of $4.1 million, or 2 cents a share, versus a net loss of $35.0 million, or 17 cents a share.

Revenue rose to $230.2 million from $217.1 million.

The company said it cut operating expenses for the third quarter to $111 million, compared with $128 million. Gross margins rose to 45.4 percent from 37.1 last year.

In a statement, the company called its quarterly financial performance "solid," although order rates in North America were "not as strong as we had projected."

Shares of SGI closed on Tuesday at $2.84, off 3 cents, or about 1 percent, on the New York Stock Exchange.

© Reuters