MILPITAS, CA — (Marketwired) — 08/11/16 — SGI (NASDAQ: SGI), a global leader in high-performance solutions for compute, data analytics and data management, today announced financial results for its fourth quarter and fiscal year 2016 ended June 24, 2016. Data in this release is presented on both a GAAP and non-GAAP basis and a reconciliation of GAAP to non-GAAP measures is included in the financial tables in this press release.
Total revenue for the fiscal fourth quarter was $123 million compared to $153 million in the fourth quarter of fiscal 2015. GAAP net income for the fiscal fourth quarter was $0.1 million, or breakeven per share compared with a net loss of $10 million, or $(0.28) per share in the fourth quarter of fiscal year 2015. Non-GAAP net income for the fiscal fourth quarter was $3 million, or $0.08 per share compared with a net loss of $4 million, or $(0.12) per share in the same quarter a year ago.
Total revenue for fiscal 2016 was $533 million compared with $521 million in fiscal 2015. GAAP net loss for fiscal 2016 was $11 million, or $(0.31) per share compared with a net loss of $39 million, or $(1.13) per share in fiscal 2015. Non-GAAP net income was $4 million, or $0.11 per share for fiscal 2016, compared with a net loss of $13 million, or $(0.36) per share for fiscal 2015.
Due to the earlier announcement of Hewlett Packard Enterprise–s acquisition of SGI, the previously scheduled conference call has been cancelled.
SGI is a global leader in high-performance solutions for compute, data analytics and data management that enable customers to accelerate time to discovery, innovation, and profitability. Visit sgi.com (sgi.com/) for more information.
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This press release and the related earnings conference call include financial measures that are not determined in accordance with U.S. generally accepted accounting principles (“GAAP”), including non-GAAP gross margin, non-GAAP net income (loss) and non-GAAP basic and diluted net income (loss) per share. These non-GAAP measures are not based on any comprehensive set of accounting rules or principles and management exercises judgment in determining which items should be excluded in the calculation of non-GAAP measures. In addition, these non-GAAP measures may be different from non-GAAP measures used by other companies. While we believe that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with our results of operations as determined in accordance with GAAP, we believe that non-GAAP measures are valuable in evaluating the company–s operating performance and analyzing our business operations. Management may exclude the following items from one or more of non-GAAP measures: (1) share-based compensation; (2) amortization and impairment of intangible assets; (3) restructuring and severance charges; (4) gains or losses on sale of assets; and (5) other non-recurring costs. Pursuant to the requirements of SEC Regulation G, a detailed reconciliation between GAAP and non-GAAP financial results is provided in this press release. The adjustments made should not be construed as an inference that all such adjustments or costs are unusual, infrequent or non-recurring. Investors are advised to carefully review and consider this information as well as the GAAP financial results that are disclosed in this release and SGI–s SEC filings.
For a full reconciliation of historical non-GAAP measures referenced in this press release to the comparable measures under GAAP, please refer to the company–s press releases on its website at .
SGI Investor Relations
Annie Leschin
(415) 775-1788
Ben Liao
(669) 900-8090
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