Cataclysmic first quarter figures from MIPS Computer Systems Inc – a loss of $12.7m on sales that plunged 46% to $23.7m (see page seven) underline how much the company needed a rescue acquisition by Silicon Graphics Inc: turnover was down 50% from the $47.3m reported for the fourth quarter to December 31, with product revenue down 24% form a year ago at $27.8m, and technology revenue dwindled to just $2.5m from $16.2m a year ago; the company says that while it expected somewhat lower revenue in the first quarter because of seasonal factors and a product transition to R4000-based systems, the revenue decline was principally down to deferrals in customer orders and licensing activity as a result of the announcement of the proposed merger deal.
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