Silicon Graphics International
The 10-second takeaway
For the quarter ended March 29 (Q3), Silicon Graphics International beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. Non-GAAP earnings per share grew significantly. GAAP earnings per share increased.
Gross margins dropped, operating margins increased, net margins grew.
Silicon Graphics International notched revenue of $232.6 million. The three analysts polled by S&P Capital IQ anticipated sales of $214.7 million on the same basis. GAAP reported sales were 17% higher than the prior-year quarter's $199.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.18. The three earnings estimates compiled by S&P Capital IQ forecast $0.14 per share. Non-GAAP EPS of $0.18 for Q3 were 64% higher than the prior-year quarter's $0.11 per share. GAAP EPS were $0.27 for Q3 compared to -$0.04 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 22.6%, 320 basis points worse than the prior-year quarter. Operating margin was 1.0%, 170 basis points better than the prior-year quarter. Net margin was 4.0%, 460 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $190.7 million. On the bottom line, the average EPS estimate is $0.17.
Next year's average estimate for revenue is $769.4 million. The average EPS estimate is $0.31.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Silicon Graphics International is buy, with an average price target of $17.25.
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