Via #sgi@ircnet:
“SGI today announced that its Plan of Reorganization has received judicial confirmation, setting the stage for the company’s emergence from Chapter 11 in October 2006.
At today’s hearing, Judge Burton Lifland ruled that all the necessary requirements have been met for SGI to implement its Plan of Reorganization. Every voting class of creditors voted overwhelmingly in favor of the plan.”
More corporate blabla in SGI’s newsroom.
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Posted by Alexander W. Janssen
Cray Inc.’s quarterly financial results are finally available on their homepage.
News in short:
“Total revenue for the quarter was $38.5 million compared to $53.4 million in the same period of the prior year. Net loss for the quarter improved year-over-year to ($7.2 million) or ($0.32) per share compared to ($23.8 million) or ($1.08) per share in the second quarter of 2005. Cray reported total gross margin of 32.5 percent for the second quarter of 2006, a significant improvement compared to 8.8 percent in the prior year period. Product margin, which improved to 26.6 percent, was the principal driver. Service gross margin of 43.0 percent for the quarter was in line with the prior year.”
The New York Stock-Exchange doesn’t seem to like Cray very much although Cray was able to narrow their losses and decrease expenses; at the time of this writing (15:31 GMT) CRAY was down by 4.08%.
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Posted by Alexander W. Janssen
Cray will present their quarterly earnings in a web-cast tomorrow at 5:00 p.m. ET / 2:00 p.m. PT / 21:00 UTC.
Could be interesting ’cause i really like to know how SGI’s chapter-11 bankruptcy affects their business.
Link to web-cast: Q2 2006 Cray Earnings Conference Call
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Posted by Alexander W. Janssen
The US Bankruptcy Court approved SGI’s Disclosure statement, paving the way for a Chapter 11 reorganization of the company.
The way is now open for a fresh and clean financial start. Let’s see how SGI will manage it; sharp tongues comment SGI’s effort with “heh, suvived again, did it; they must be getting good at it. uh, oh… woops, saved!”.
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sgi, chapter11, bankruptcy
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Posted by Alexander W. Janssen
