Fourth quarter results from Silicon Graphics (SGI), show the firm took a $130 million hit following its purchase of Cray Research earlier this year.
Q4 losses reached $48.7 million on turnover of $826 million for the period ended 30 July. SGI claimed profits of $81 million if the Cray figures are discounted. For the fiscal year ended 30 June 1996, SGI reported a profit of $115 million on turnover up 24 per cent of $2.9 billion. Cray Research recorded a loss of $23 million in Q4 on $151 million turnover.
Ed McCracken, SGI chairman and CEO, said: 'Our Q4 results show that we are able to be aggressive on pricing while continuing to deliver industry leading operating profits.'
Despite the sickly results, McCracken said Cray Research had accumulated a significant backlog of orders which would return the subsidiary to profitability in 1997.
SGI president and COO, Thomas Jermoluk announced last week that he was leaving the company. He has joined startup firm @Home, which will develop communication systems using cable TV networks.
An SGI representative said the firm would be looking to do significant business with @Home.
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