FREMONT, CA -- (Marketwired) -- 07/01/13 --
SGI (NASDAQ: SGI), the trusted leader in technical computing and Big Data, today announced that it has selected Jabil Circuit, Inc. (NYSE: JBL) as its primary global manufacturing services and supply chain management provider. The terms of the engagement are subject to execution of a definitive Master Supply Agreement (MSA).
Jorge Titinger, president and CEO of SGI, said, "We expect that this arrangement will provide significant benefits to SGI and our customers, including a more variable cost structure, greater flexibility to respond to changes in volumes or customer requirements, shorter cycle times for certain products, and enhanced quality management. As a world-class supply chain partner, Jabil has extensive experience in system-level assembly and testing of both compute and storage products and is able to meet the unique sourcing and technical requirements of both our government and commercial customers. We are excited about the opportunities for growth and enhanced customer satisfaction over time as we move forward with this manufacturing partnership."
SGI, the trusted leader in technical computing, is focused on helping customers solve their most demanding business and technology challenges. Visit sgi.com for more information.
Cautionary Statement Regarding Forward Looking Statements
The statements made in this press release regarding the anticipated execution of a definitive Master Supply Agreement with Jabil, the anticipated actions of Jabil and SGI that result and the anticipated benefits of a contract manufacturing relationship between Jabil and SGI, including a more variable cost structure, greater flexibility with customer requirements, increased customer satisfaction, shorter cycle times, enhanced quality management and opportunities for growth, are forward-looking statements within the meaning of the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934 and Section 27A of the Securities Act of 1933. Actual results could differ materially from those described by
these statements due to a number of uncertainties, including, but not limited to:
- Fluctuations in the buying patterns and sizes of customer orders;
- Lengthy acceptance cycles of SGI's products by certain customers, development or product delivery delays, and delays in obtaining necessary components from suppliers;
- The addition of new customers or loss of existing customers;
- Customer concentration risks;
- Substantial sales to U.S. government entities, which are subject to the government's budgetary constraints;
- Write-offs of excess and obsolete inventory;
- Unexpected changes in the price for, and the availability of, components from SGI's suppliers;
- SGI's ability to enhance its products with new and better designs and functionality;
- Actions taken by new and existing competitors, such as new product announcements or introductions or changes in pricing;
- Market acceptance of newer products; and
- Other risks as detailed in SGI's filings with the Securities and Exchange Commission ("SEC"), including those described in SGI's Annual Report on Form 10-K under the caption "Risk Factors" filed with the SEC on Sept. 10, 2012, which are available at the SEC's web site at http://www.sec.gov.
You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this announcement. SGI undertakes no obligation to update the information in this news release [or any related conference call], whether as a result of new information, future events or otherwise, unless otherwise required by law.
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