Cray, Inc. (CRAY) Tops Q2 EPS by 8c, Offers Guidance

Cray, Inc. (NASDAQ: CRAY) reported Q2 EPS of ($0.22), $0.08 better than the analyst estimate of ($0.30). Revenue for the quarter came in at $85.15 million versus the consensus estimate of $74.75 million.

Cray, Inc. sees FY2014 revenue of $600 million, versus the consensus of $599.43 million.

Cray, Inc. sees Q3 2014 revenue of $125 million, versus the consensus of $156.85 million.

Outlook For 2014, while a wide range of results remains possible, the Company anticipates revenue to be in the range of $600 million for the year and, as previously indicated, to be heavily weighted to the fourth quarter as has been typical in recent years. Revenue is expected to be about $125 million for the third quarter. Non-GAAP gross margin for 2014 is anticipated to be in the mid-30% range. Total non-GAAP operating expenses for the year are anticipated to be about $175 million. Based on this outlook, the Company expects to be profitable on both a GAAP and non-GAAP basis for 2014.

The Company's 2014 effective non-GAAP tax rate is expected to be about 10%.

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

You May Also Be Interested In

• Jefferies sees a buying opportunity in this S&P 500 sector
• CorMedix (CRMD) Tops Q2 EPS by 6c; Offers Guidance
• Jefferies upgrades Five Below to Buy, sees path to TJX-like re-rating