Silicon Graphics' revenues up, president departs
- 01 August, 1996 22:00
Silicon Graphics has announced revenues of US$826 million for the second quarter of 1996, a 26% increase over the same period last year. Separately, it says that president and COO Thomas Jermoluk has resigned to join the @Home Corp.
Income for the second quarter was US$81 million compared with US$53 million for the second quarter of 1995. Both income and revenues, which do not take into account Silicon Graphics' April acquistion of Cray Research, were the highest of any individual quarter in history for the company, growth which Silicon Graphics attributes to "acceptance of our 64-bit, R10000-based products", according to Ed McCracken, the company's chairman and CE.
Taking the acquisition into account, Silicon Graphics' total revenue for the fourth quarter was US$977 million, resulting in a net loss of US$49 million.
Meanwhile, Jermoluk, who has worked for the company since 1986, has left, accepting a new role as chairman, CEO and president of the @Home Corp., a cable Internet venture. In the interim, McCrackenis assuming Jermoluk's duties.
The parting of ways is reportedly amicable. "Tom has decided to leave Silicon Graphics so that he can work in a smaller environment where he can closely manage all aspects of the business. The @Home Corporation is a significant business partner of Silicon Graphics, and we wish Tom and @Home great success," says McCracken.