SGI profits take a tumble

Silicon Graphics(SGI) says its net income fell 22%, to US$53 million in its third quarter ended March 31. This compares with earnings of US$68 million in the same quarter last year. Quarterly revenue increased 17%, to US$677 million, up from US$577 million in the year-ago period. The company blames the drop in earnings on its failure to meet demand for new products. The company also predicts it will bounce back next quarter with the help of a 34% increase in orders during its third quarter.

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