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Technology Stocks : Silicon Graphics, Inc. (SGI)

SGI 83.87

-2.5%

Nov 18 3:59 PM EST

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To: John M. Zulauf who wrote (516)	1/14/1997 11:10:00 PM
From: brushwud	of 14451

> I don't see the sort of charges in this quarter that SGI had last. > There weren't any large aquisitions this quarter or last. If you'd check out your company's 10-K (p. 38) & 10-Q (p. 8) at sec.gov you'd see that there remains $12-22 million of merger expenses to be written off in F97. Also at least $21 million in over-valued inventory due to the Cray acquisition and $4 million in non- recognizable service revenue will depress margins. Apparently, some of the over-valued work-in-progress will carry over into F98. Some well-upholstered & highly-chilled equipment chassises! The only question remaining is which VP will break the bad news to us in April, "SGI would have made $0.02 per share in 3Q, except for continuing merger expenses and extraordinary rain in California, which led to a $0.24 per share loss. We are gratified that the U. S. Gov't has agreed to let us lose $20 million per computer..."

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