Silicon Graphics Inc’s shares fell a massive 33% to $18.13 on Monday as the company broke the bad news about its poor first quarter ended September 30. Revenue is predicted to fall 0.7% to $760m with a forecast net loss per share of $0.20, down from earnings of $0.56 per share in the quarter to June 30. Chairman and chief executive officer, Edward R McCracken, blamed the shortfall on a strong preceding quarter and disappointing figures from the group’s server business. The company also said it would be reviewing its operating expenses in the light of current business conditions.
