Silicon Graphics shares headed for delisting

silicon-graphics-logo1Silicon Graphics will have its shares delisted from the Nasdaq stock market beginning Thursday morning, according to an SEC filing it made Monday. The news was delivered last week to the Sunnyvale computer maker in a letter from Nasdaq that said the company had failed to become compliant with a rule that the company maintain a minimum level of stockholders’ equity or market value.

The company had been warned by Nasdaq in a letter on Dec. 1 and had until the end of last year to comply. On Jan. 13, the exchange filed a rule change with the SEC to extend the compliance period from 30 days to 90 days, which period expired March 2.

Silicon Graphcis says it has requested a hearing to stay the decision.

 

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  • Steve

    Didn’t they drop the “Silicon Graphics” name in favor of being called just SGI years ago?

  • Leo Bulero

    Silicon Graphics started going downhill when they dropped the cube logo for the silly “sgi” one.

  • I didn’t realize that they were back on NASDAQ, weren’t they delisted once already a few years ago? Or was it just that they were dropped to “penny stock” status?

  • derrif

    The skids hit them when they adopted WindowsNT.

  • Allan

    The final legacy of shareholder-destroying CEO Rick Beluzzo.
    May he rot in hell.

  • Yes – They stopped being Silicon Graphics many years ago.
    They also have had a completely different logo… for many years now.
    It probably took more effort to put up this old one than
    getting a current one off their website…

    lame.

  • Jim

    What a shame to see such a pioneering company on the skids. They basically invented 3-d rendering graphics. The beginning of the end was when they shared thier golden egg (graphics) with Intel in exchange for a proprietary SGI-Windows based processor, which ultimately failed. They tried to enter market that was increasingly dominated by Intel/Windows PC’s and Servers and by giving away their technology they ultimately sealed thier own fate. Changing the logo was just plain silly! Luckily for me I sold what little stock I had in SGI a long time ago…

  • Wow, what a difference a decade makes. I remember growing up in lust with SGI hardware. Now to see it fade away is a sad state of affairs. But then again this is probably the first time I’ve thought of the company or their products since they went Intel.

    End of an era.

  • Gordon

    Amen to Allan’s comment … however I bet Belluzo (and the rest of the CEO parade before and after him) is kicked back reading a book on at some resort his personal wealth having been crushed down to a paltry $4M or so with the depression … For a span of a few years the golden parachutes were a flyin’ out of the spinning SGI plane …

  • Goodbye sg…

  • Wow, what a difference a decade makes. I remember growing up in lust with SGI hardware. Now to see it fade away is a sad state of affairs.

  • For some reason my browser does not show this page as it should… It appears that a big portion of it is not correctly displayed and the template of your page does not seem right. Can you confirm that this article has been tested under Opera?

 
 
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