Cray, Inc. (CRAY) Tops Q1 EPS by 2c

Cray, Inc. (NASDAQ: CRAY) reported Q1 EPS of ($0.46), $0.02 better than the analyst estimate of ($0.48). Revenue for the quarter came in at $55.1 million versus the consensus estimate of $50.88 million.

Cray, Inc. sees FY2014 revenue of about $600 million, versus the consensus of $599.25 million.

"We're off to a solid start to the year," said Peter Ungaro, president and CEO of Cray. "We exceeded our revenue target for the first quarter, led by several CS300 supercomputer installations in the U.S. and Japan, and we were recently awarded a significant new contract by the U.S. Department of Energy for a next generation XC supercomputer which is expected to be NERSC's next flagship system. Our big data storage and analytics offerings continue to expand, and we were recently awarded our first contract for our latest storage offering called Tiered Adaptive Storage, which enables the transparent management and access of data across a dynamic storage hierarchy. While we still have a lot of work left to do to achieve our outlook for the year, I am excited about the progress we are making as we continue to target growth at two-times the market rates in our targeted markets

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

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