-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RvRqaq1L4Wfye/SUSkvAE9zACN53HRcmp7HxB+X7NJ+5UGegRlpPn6IOGdCekKBP Lylo2cgitdz7t6H8SRDQ1g== 0000929624-97-000954.txt : 19970808 0000929624-97-000954.hdr.sgml : 19970808 ACCESSION NUMBER: 0000929624-97-000954 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19970724 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19970807 SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: SILICON GRAPHICS INC /CA/ CENTRAL INDEX KEY: 0000802301 STANDARD INDUSTRIAL CLASSIFICATION: ELECTRONIC COMPUTERS [3571] IRS NUMBER: 942789662 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10441 FILM NUMBER: 97652679 BUSINESS ADDRESS: STREET 1: 2011 N SHORELINE BLVD P O BOX 7311 STREET 2: MS 6U-710 CITY: MOUNTAIN VIEW STATE: CA ZIP: 94039-7311 BUSINESS PHONE: 4159601980 MAIL ADDRESS: STREET 1: 2011 N SHORELINE BLVD STREET 2: POST OFFICE BOX 7311 MS 6U-710 CITY: MOUNTAIN VIEW STATE: CA ZIP: 94039-7311 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________ FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: July 24, 1997 (Date of earliest event reported) SILICON GRAPHICS, INC. -------------------------------------- (Exact name of Registrant as specified in its charter) Delaware 1-10441 94-2789662 - ------------------------------------------------------------------------------- (State or other (Commission (I.R.S. Employer jurisdiction of File Number) Identification No.) incorporation) 2011 N. Shoreline Blvd., Mountain View, California 94043-1389 - -------------------------------------------------- ---------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (415) 960-1980 -------------- ---------------------------------------------------------------- (Former name or former address, if changed since last report.) 2 Item 5. Other Events. - --------------------- News Release dated July 24, 1997, filed as Exhibit 20 to this Current Report on Form 8-K, is incorporated by reference herein. Item 7. Financial Statements and Exhibits. - ------------------------------------------- Exhibit No. Description Method of Filing - ----------- ----------- ---------------- 20 News Release dated July 24, 1997. Filed with this Report. 3 SIGNATURES: Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on the date indicated. SILICON GRAPHICS, INC. (Registrant) By: /s/ William M. Kelly -------------------- Name: William M. Kelly Title: Senior Vice President Corporate Operations Dated: August 7, 1997 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- 20 News Release dated July 24, 1997. EX-20 2 NEWS RELEASE DATED JULY 24, 1997 SILICON GRAPHICS REPORTS FIRST BILLION DOLLAR QUARTER New "O Series" Product Line Fuels Revenue Growth MOUNTAIN VIEW, California, July 24, 1997 -- Silicon Graphics, Inc. (NYSE: SGI) today announced results for its quarter and fiscal year ended June 30, 1997. The Company's $1.2 billion in revenues marked its first billion dollar fiscal quarter and represented a 28% increase over the quarter ended March 31, 1997. Revenue growth was balanced across the company's business units and was especially driven by the success of the Octane(TM) workstation and Origin(TM) 2000 scalable server families. "This quarter was all about execution," commented Edward R. McCracken, chairman and chief executive officer. "Our product transition is complete, we are shipping our entire product line without significant constraints and, most importantly, the new products are finding strong acceptance with customers. We are entering the new fiscal year with our entire organization aligned to build on this success and we are encouraged by our prospects for fiscal 1998." Fourth quarter 1997 revenues represented a 19% increase over the $977 million in revenues for the year ago quarter. Net income for the quarter increased to $102 million, or $0.56 per common share, compared with a net loss of $49 million or net loss of $0.30 per common share in the year ago quarter. Pre-tax merger charges related to the April 1996 acquisition of Cray Research were $6 million for the quarter ended June 30, 1997 and $120 million in the same quarter a year ago. Total revenues for the fiscal year ended June 30, 1997 were $3.7 billion, a 25% increase over the Company's results as reported for fiscal 1996. Including the Cray Research revenue for the full fiscal year 1996 on a pro forma combined basis, the Company's revenue grew 7%. Net income for fiscal 1997 was $79 million, or $0.43 per common share, compared with net income of $115 million, or $0.65 per common share for fiscal 1996. Pre-tax merger charges were $53 million for fiscal 1997 compared with $121 million for fiscal 1996. The Company's consolidated backlog at June 30, 1997 was $537 million. Silicon Graphics, Inc. is a leading supplier of high-performance interactive computing systems. Silicon Graphics and its subsidiaries have offices throughout the world and headquarters in Mountain View, California. SILICON GRAPHICS, INC CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
Three Months Ended Twelve Months Ended June 30, June 30, June 30, June 30, 1997 1996 1997 1996 (1) - ------------------------------------------------------------------------------------------------------------------------------------ (UNAUDITED) Product and other revenue $ 1,011,896 $ 835,264 $ 3,086,791 $ 2,553,128 Service revenue 150,421 142,109 575,810 368,188 ------------- ----------- ------------- ------------- Total revenue 1,162,317 977,373 3,662,601 2,921,316 Costs and expenses: Cost of product and other revenue 512,226 463,679 1,697,277 1,279,742 Cost of service revenue 85,396 84,716 325,269 202,697 Research and development 125,196 121,915 479,101 353,461 Selling, general and administrative 297,712 246,593 1,038,313 807,830 Merger-related expenses 3,110 101,918 10,757 103,193 ------------- ----------- ------------- ------------- Total costs and expenses 1,023,640 1,018,821 3,550,717 2,746,923 ------------- ----------- ------------- ------------- Operating income (loss) 138,677 (41,448) 111,884 174,393 Interest and other (expense) income, net (9,323) (385) (13,694) 14,395 ------------- ----------- ------------- ------------- Income (loss) before income taxes 129,354 (41,833) 98,190 188,788 Provision for income taxes 26,951 6,871 19,639 73,751 ------------- ----------- ------------- ------------- Net income (loss) $ 102,403 $ (48,704) $ 78,551 $ 115,037 ------------- ----------- ------------- -------------
Net income (loss) per common share $ 0.56 $ (0.30) $ 0.43 $ 0.65 Common and common equivalent shares used in the calculation of net income (loss) per common share 183,461 164,388 182,637 175,790 ------------- ----------- ------------- -------------
(1) Fiscal year 1996 amounts include the results of Cray Research, Inc. for the fourth quarter only. SILICON GRAPHICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (IN THOUSANDS)
June 30, June 30, 1997 1996 - ----------------------------------------------------------------------------------------------------------------- ASSETS Current assets: Cash and cash equivalents $ 227,222 $ 257,080 Short-term marketable investments 60,109 38,316 Accounts receivable, net 1,131,647 978,874 Inventories 628,064 520,045 Prepaid expenses and other current assets 268,552 301,940 ---------- ---------- Total current assets 2,315,594 2,096,255 Other marketable investments 86,961 161,541 Property and equipment, at cost 940,695 825,359 Accumulated depreciation and amortization (415,243) (360,480) ---------- ---------- Net property and equipment 525,452 464,879 Other assets 416,585 435,571 ---------- ---------- $3,344,592 $3,158,246 ========== ========== LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts and notes payable $ 299,684 $ 397,838 Other current liabilities 786,522 703,600 ---------- ---------- Total current liabilities 1,086,206 1,101,438 Long-term debt and other 419,144 381,490 Stockholders' equity: Preferred stock 16,998 16,998 Common stock 178 173 Additional paid-in capital 1,263,007 1,172,787 Retained earnings 537,238 461,311 Treasury stock -- (867) Accumulated translation adjustment and other 21,821 24,916 ---------- ---------- Total stockholders' equity 1,839,242 1,675,318 ---------- ---------- $3,344,592 $3,158,246 ========== ========== - -----------------------------------------------------------------------------------------------------------------
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