-----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, FY3us4zO5VwVQR1FOHvix7CKB8R44Kkeum3lgq6csOHOHo+6MQBF5NvQcU5ItYyx 9j9Uxmyeno6dZlGRB7F4Og== 0000950103-03-001937.txt : 20030926 0000950103-03-001937.hdr.sgml : 20030926 20030926170026 ACCESSION NUMBER: 0000950103-03-001937 CONFORMED SUBMISSION TYPE: NT 10-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20030627 FILED AS OF DATE: 20030926 EFFECTIVENESS DATE: 20030926 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SILICON GRAPHICS INC 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: NT 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-10441 FILM NUMBER: 03913058 BUSINESS ADDRESS: STREET 1: 1600 AMPHITHEATRE PKWY CITY: MOUNTAIN VIEW STATE: CA ZIP: 94043-1351 BUSINESS PHONE: 6509601980 MAIL ADDRESS: STREET 1: 1600 AMPHITHEATRE PKWY STREET 2: MS 6U-710 CITY: MOUNTAIN VIEW STATE: CA ZIP: 94043-1389 FORMER COMPANY: FORMER CONFORMED NAME: SILICON GRAPHICS INC /CA/ DATE OF NAME CHANGE: 19920703 NT 10-K 1 form_12b.htm form_12b
SECURITIES AND EXCHANGE COMISSION
WASHINGTON, DC 20549

FORM 12b-25

     OMB Number 3235-0058
Commission File Number
1-10441
CUSIP Number
827056-10-2

NOTIFICATION OF LATE FILING

      (Check One):      x Form 10-K      o Form 20-F      o Form 10-Q      o Form N-SAR

o Form N-CSR

   For Period Ended:         June 27, 2003                                                              

o Transition Report on Form 10-K                    o Transition Report on Form 10-Q

o Transition Report on Form 20-F                     o Transition Report on Form N-SAR

o Transition Report on Form 11-K

      For the Transition Period Ended: ___________________________________

      Read Instruction (on back page) Before Preparing Form. Please Print or Type.

     Nothing in this form shall be construed to imply that the Commission has verified any information contained herein.

      If the notification relates to a portion of the filing checked above, identify the Item(s) to which the notification relates: ___________________________________________________________________________________

PART I
REGISTRANT INFORMATION

Full Name of Registrant      Silicon Graphics, Inc.
  
Former Name if Applicable         Not Applicable
  
Address of Principal Executive Office (Street and Number)           1600 Amphitheatre Parkway
  
City, State and Zip Code      Mountain View, California 94043-1351

PART II
RULES 12b-25(b) AND (c)

     If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate.)

x  (a)The reasons described in reasonable detail in Part III of this form could not be eliminated without unreasonable effort or expense;
  
(b) The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-Q, or portion thereof, will be filed on or before the fifth calendar day

 

    following the prescribed due date;
and
(c) The accountant's statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.

PART III
NARRATIVE

     State below in reasonable detail the reasons why Forms 10-K, 20-F, 11-K, 10-Q, N-SAR, N-CSR, or the transition report portion thereof, could not be filed within the prescribed time period. (Attach extra Sheets if Needed)

     The Registrant’s Form 10-K has not been completed by the due date because the Registrant requires additional time to finalize its audited financial statements for the year ended June 27, 2003. The Registrant issued the attached press release on July 24, 2003 announcing its fourth quarter and full year results for that fiscal year. The Registrant expects that it will file the Form 10-K shortly and that the financial statements contained in such filing will be consistent with its publicly announced results in all material respects.

PART IV
OTHER INFORMATION

     (1)    Name and telephone number of person to contact in regard to this notification

        Sandra Escher (650)  933-3009

(Name)(Area Code) (Telephone Number)

     (2)    Have all other periodic reports required under Section 13 or 15(d) of the Securities Exchange Act of 1934 or Section 30 of the Investment Company Act of 1940 during the preceding 12 months or for such shorter period that the registrant was required to file such report(s) been filed? If answer is no, identify report(s).

     x Yes      o No

     (3)    Is it anticipated that any significant change in results of operations from the corresponding period for the last fiscal year will be reflected by the earnings statements to be included in the subject report or portion thereof?

 x Yes      o No

     If so, attach an explanation of the anticipated change, both narratively and quantitatively, and, if appropriate, state the reasons why a reasonable estimate of the results cannot be made.

     The Registrant issued the press release, attached hereto as Attachment 1, on July 24, 2003 announcing its fourth quarter and full year results for that fiscal year. The Registrant expects that its financial statements contained in the Form 10-K will be consistent with its publicly announced results in all material respects.

Silicon Graphics, Inc.

(Name of Registrant as Specified in Charter)

Has caused this notification to be signed on its behalf by the undersigned hereunto duly authorized.

 

Date          September 26, 2003
 By   /s/ Jeffrey V. Zellmer
    Jeffrey V. Zellmer
Senior Vice President and Chief Financial Officer

 


      INSTRUCTION: The form may be signed by an executive officer of the registrant or by any other duly authorized representative. The name and title of the person signing the form shall be typed or printed beneath the signature. If the statement is signed on behalf of the registrant by an authorized representative (other than an executive officer), evidence of the representative's authority to sign on behalf of the registrant shall be filed with the form.

ATTENTION

     Intentional misstatements or omissions of fact constitute Federal Criminal Violations (See 18 U.S.C. 1001).

General Instructions

     1. This form is required by Rule 12b-25 (17 CFR 240.12b-25) of the General Rules and Regulations under the Securities Exchange Act of 1934.

     2. One signed original and four conformed copies of this form and amendments thereto must be completed and filed with the Securities and Exchange Commission, Washington, D.C. 20549, in accordance with Rule 0-3 of the General Rules and Regulations under the Act. The information contained in or filed with the form will be made a matter of public record in the Commission files.

     3. A manually signed copy of the form and amendments thereto shall be filed with each national securities exchange on which any class of securities of the registrant is registered.

     4. Amendments to the notifications must also be filed on form 12b-25 but need not restate information that has been correctly furnished. The form shall be clearly identified as an amended notification.

     5. Electronic filers. This form shall not be used by electronic filers unable to timely file a report solely due to electronic difficulties. Filers unable to submit a report within the time period prescribed due to difficulties in electronic filing should comply with either Rule 201 or Rule 202 of Regulation S-T (§232.201 or §232.202 of this chapter) or apply for an adjustment in filing date pursuant to Rule 13(b) of Regulation S-T (§232.13(b) of this chapter).


ATTACHMENT 1

NEWS
RELEASE

 

SGI Reports Fourth-Quarter And Fiscal Year Results

 

MOUNTAIN VIEW, Calif. (July 24, 2003)SGI (NYSE: SGI) today announced results for its fourth fiscal quarter and fiscal year 2003, which ended June 27, 2003. Revenue for the fourth quarter was $240 million, compared with $217 million in the preceding quarter. Gross margin increased to 40.3% from 37.1% in the previous quarter.

GAAP operating expenses for the fourth quarter were $131 million, including $12.6 million in restructuring and non-cash impairment charges, compared with $128 million for the previous quarter. SGI’s fourth-quarter net loss on a GAAP basis was $36.6 million or $0.18 per share compared with $35 million or $0.17 per share from the third quarter. These results are consistent with the preliminary results announced on July 10, 2003.

“Our fiscal year 2003 was a challenge. Although we have seen a sequential increase in our Q4 revenues and gross margin, we still need to take aggressive steps to reduce costs and to drive revenue from our new line of products,” said Bob Bishop, chairman and chief executive officer of SGI.

As of June 27, 2003, unrestricted cash, cash equivalents and marketable investments were $141 million, which was unchanged from the previous quarter.

Revenue for full fiscal year 2003 was $962 million, compared with $1.3 billion from fiscal year 2002. Net loss for the year was $130 million or $0.64 per share, compared with $46 million or $0.24 per share from the previous year.

 


—more—

SGI will conduct a conference call today at 2 p.m. PDT to provide additional details. The dial-in number is (888) 208-1824 (no passcode required) and the webcast site is www.sgi.com. An audio replay of this call will be available after 5 p.m. PDT today at (719) 457-2649 (reference passcode 745390) for seven days. All links to the archived webcast and audio replay are available at www.sgi.com/company_info/investors/. International investors can dial (888) 203-1112 (no passcode required). International replay is (719) 457-0820 (reference passcode 745390).

About SGI

SGI, also known as Silicon Graphics, Inc., is the world’s leader in high-performance computing, visualization and storage. SGI’s vision is to provide technology that enables the most significant scientific and creative breakthroughs of the 21st century. Whether it’s sharing images to aid in brain surgery, finding oil more efficiently, studying global climate or enabling the transition from analog to digital broadcasting, SGI is dedicated to addressing the next class of challenges for scientific, engineering and creative users. SGI was named on FORTUNE magazine’s 2003 list of “Top 100 Companies to Work For.” With offices worldwide, the company is headquartered in Mountain View, Calif., and can be found on the Web at www.sgi.com.

—end—

Silicon Graphics, SGI and the SGI logo are registered trademarks of Silicon Graphics, Inc., in the United States and/or other countries worldwide. All other trademarks mentioned herein are the property of their respective owners.


SILICON GRAPHICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands except per share amounts)

Three Months Ended

Twelve Months Ended

    June 27,     June 28,     June 27,     June 28,

2003

2002

2003

 

2002


   


   

 

Product and other revenue

$

144,126

$

171,718

$

547,719

 

$

856,719

Service revenue

96,039

 

112,783

414,029

 

484,666

   
   
   
   
 

    Total revenue

240,165

284,501

961,748

 

1,341,385

 

Costs and expenses:

 

   Cost of product and other revenue

86,711

98,961

333,245

 

464,405

   Cost of service revenue

56,640

 

68,331

239,569

 

306,007

   Research and development

40,463

44,087

170,937

 

176,893

   Selling, general and administrative

78,250

95,430

319,360

 

450,365

   Other operating expense, net (1)

12,585

1,929

30,046

 

44,476

   
   
   
   
 

       Total costs and expenses

274,649

308,738

1,093,157

 

1,442,146

   
   
   
   
 

Operating loss

(34,484

)

(24,237

)

(131,409

)

(100,761

)

Interest and other income (expense), net

(10,701

)

(6,358

)

(21,104

)

(16,919

)

Other non-recurring income (expense), net

(3,454

)

(4,603

)

(3,454

)

35,422

(2)




 


 

Loss before income taxes

(48,639

)

(35,198

)

(155,967

)

(82,259

)

 

Income tax benefit (provision)

(11,991

)

1,492

(26,263

)

(35,936

)




 


 

Net loss

$

(36,648

)

$

(36,690

)

$

(129,704

)

$

(46,323

)




 


                         

Net loss per common share - basic and diluted

$

(0.18

)

$

(0.18)

$

(0.64

)

$

(0.24

)




 


                         

Shares used in the calculation of net loss per
common share - basic and diluted

203,281

198,545

201,424

 

194,974




 


 

 


SILICON GRAPHICS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
         
         
  June 27,   June 28,  
  2003   2002  
ASSETS
 
 
         
Current assets:        
   Cash and cash equivalents $ 140,836   $ 213,302  
   Short-term marketable investments   440     4,878  
   Short-term restricted investments   35,298     43,506  
   Accounts receivable, net   133,166     193,992  
   Inventories   71,426     109,410  
   Prepaid expenses and other current assets   51,727     66,525  
   
   
 
      Total current assets   432,893     631,613  
             
Restricted investments   1,430     1,183  
             
Net property and equipment   108,062     160,282  
             
Other assets   107,469     117,041  
   
   
 
             
  $ 649,854   $ 910,119  
   
   
 
             
             
LIABILITIES AND STOCKHOLDERS’ DEFICIT             
             
Current liabilities:            
   Accounts payable $ 76,507   $ 92,326  
   Accrued compensation   38,916     46,734  
   Income taxes payable   22,666     10,369  
   Other current liabilities   157,545     219,236  
   Deferred revenue   149,434     168,283  
   
   
 
       Total current liabilities   445,068     536,948  
             
Long-term debt   291,956     308,631  
Other liabilities   91,385     119,181  
   
 
   
 
       Total liabilities   828,409     964,760  
             
Total stockholders’ deficit   (178,555)     (54,641)  
   
   
 
             
  $ 649,854   $ 910,119  
   
   
 


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