Cray (CRAY) Tops Q2 EPS by 45c; Guides FY Revs In-Line

Cray (NASDAQ: CRAY) reported Q2 EPS of $0.30, $0.45 better than the analyst estimate of ($0.15). Revenue for the quarter came in at $186.2 million versus the consensus estimate of $129.44 million.

Cray sees FY2015 revenue of $715 million, versus the consensus of $716 million.

"We had a strong second quarter, highlighted by several key customer wins and our new installation at the King Abdullah University of Science and Technology in Saudi Arabia," said Peter Ungaro, president and CEO of Cray. "We also expanded our storage and data management team by hiring a number of development and service engineers from Terascala, adding new skills and capabilities to this growing business. With recent wins at the Bureau of Meteorology in Australia and the Texas Advanced Computing Center, our momentum of new awards has continued and we're well positioned to deliver strong growth for the year."

Outlook

"We anticipate revenue for 2015 to be in the range of $715 million. Revenue for the third quarter is expected to be approximately $140 million. Non-GAAP gross margin for 2015 is expected to be in the 30-33% range. Total non-GAAP operating expenses for the year are anticipated to be in the range of $180 million. Based on this outlook, we expect to improve our GAAP and non-GAAP operating profit margin significantly for 2015 as compared to 2014."

For earnings history and earnings-related data on Cray (CRAY) click here.

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