I can highly recommend you head on over to HPCWire and read their article, Mind the GAAP, which features an in-depth deconstruction of SGI’s financial results, and an interview with Silicon Graphics CFO Greg Wood.

SUNNYVALE, Calif., Feb. 10 /PRNewswire-FirstCall/ — Silicon Graphics, Inc. (SGI) (Nasdaq: SGIC) is in a category all by itself when it comes to massive globally shared main memory and globally addressable memory on SGI(R) Altix(R) 4700 systems. With numerous installations in the 4 TB range, and a number more in the 8 TB range, the groundbreaking scalability of SGI systems extends to 21 TB of globally addressable main memory at customer sites. This is over five times the size of memory that other vendors can offer today. The system is designed to accommodate 128 terabytes of globally shared memory under the control of a single instance of the Linux operating system! The system may also be partitioned among multiple instances of Linux and provide globally addressable shared memory among OS instances via SGI’s unique NUMAlink(R) interconnect technology.

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Russia’s Federal Service for Hydrometeorology and Environmental Monitoring (Roshydromet) after a thorough evaluation and rigorous procurement procedure has deployed Silicon Graphics solutions to rapidly develop detailed models that enable more precise weather forecasts. The systems operate at 27 trillion operations per second, providing 10,000 times the computational power of Roshydromet’s previous Cray supercomputer. This enhanced capability has expanded both the forecast duration and the accuracy of these critical forecasts.

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With markets drying up and R&D budgets taking a pounding, both Silicon Graphics and Nvidia are facing some tough times. Nvidia are being squeezed in the chipset arena by both Intel and AMD/ATI, and their graphics biz is taking a hit from AMD/ATI and also their recent production issues.

With a number of staff leaving SGI to work at Nvidia, Quadro’s presence in SGI’s visualisation systems, and Nvidia looking more and more to move into high end visualisation, how long will it be before the two companies get together?

A partnership – or even a full merger – would benefit both companies enormously, and allow them to merge R&D spend and come up with some really innovative solutions for high end visualisation problems. CUDA and discrete GPUs as processing units seems to play into SGI’s strategy for mix-and-match processing (see their use of FPGAs in Altix) and with Altix ICE taking off even more, such modular solutions could provide a compelling solution for many different vertical markets.

Will it happen? I think it should, and I forecast that we’ll see some movement in this direction in the coming year, as the economy gets worse.

Revenue for the second quarter was $82.8 million, compared to $92.8 million in the previous quarter and $90.1 million in the second quarter of the prior year. The company’s net loss for the quarter was $49.2 million, or $4.24 per share, versus a net loss of $33.7 million or $2.91 per share last quarter and $42.2 million or $3.78 per share in the second quarter of the prior year.

Three interesting things came out of the call:

1. SGI have reached an agreement with existing creditors, who’s debts were supposed to start being repaid in December, to postpone this for 2 years. Obviously this will have a positive effect on cash flow.
2. There was another round of layoffs (restructuring, external promotions, reduction in force – call it what you will) at the end of December, so the financial hit for that comes in this quarter
3. Despite receiving another NASDAQ delisting notice (see Deja Vu – Silicon Graphics to be delisted from NASDAQ), given the tough times all business is facing, the NASDAQ has relaxed it’s rules and SGI are no longer in danger of being delisted (again)

Read the full Silicon Graphics financial results release at http://www.sgi.com/company_info/newsroom/press_releases/2009/february/results.html