Probably, but not necessarily. They're dead in the water on the consumer side, but enterprise can be turned around. I'd heard tell they were working on some uber-high-end scientific and government hardware, too, and maybe that becomes their cash cow eventually. Government contracting has certainly been kind to other hardware companies in the past.

They might be able to pull out of the race to the bottom / razor-thin-margins that is the non-Apple PC market, build up a high-end image doing cutting-edge industrial hardware, then (possibly) reconsider a consumer relaunch as a high-end, high-margin brand.