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SGI Reports Q1

SUNNYVALE, Calif. -- SGI (NASDAQ:SGIC) today announced financial results for the first quarter of its fiscal year 2008, which ended September 28, 2007.

First Quarter FY08 Highlights

Overall in its first quarter, SGI:

  • Grew bookings more than 40% over the fourth quarter of fiscal 2007 with
    key wins in target growth areas
  • Continued stability in pro forma results
  • Achieved its goals for revenue, expenses and cash

"The first step in our growth strategy is to increase our bookings, so I'm very pleased with our order rate this quarter," said Bo Ewald, SGI Chief Executive Officer. "We saw very good momentum in our bookings, with an increase of 43% over Q4. I'm particularly encouraged by the composition and mix of the Q1 orders, which came from across our target markets with the largest single order being under $5M. That is a good step in our plan to build our base of customers without having to rely on very large single system orders."

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