Cray (CRAY) Puts Analysts on Ice with Solid Prelim. FY15 Revenue Results

Global supercomputer leader Cray Inc. (Nasdaq: CRAY) announced selected preliminary 2015 financial results. The 2015 anticipated results presented in this release are based on preliminary financial data and are subject to change until the year-end financial reporting process is complete.

Based on preliminary results, total revenue for 2015 is expected to be about $720-725 million, higher than the previously provided guidance, and the Company expects to be solidly profitable on both a GAAP and non-GAAP basis for 2015.

*** Consensus expectations called for FY15 revenue of $716.8 million.

As of Dec. 31, 2015, cash and investments are expected to total about $285 million.

"We had another great year in 2015, with record revenue and strong profitability," said Peter Ungaro, president and CEO of Cray. "We expect to outperform our previously provided 2015 revenue guidance and are maintaining our previous 2016 revenue guidance. With strong momentum building throughout our business, including an expanding presence in the commercial market across each of our offerings, we're well positioned to deliver continued growth into the future."

For 2016, while a wide range of results remains possible, the Company is maintaining the outlook provided in its most recent quarterly earnings release, which included expecting revenue to be in the range of $825 million.

Separately, we recently entered into an expanded credit agreement with Wells Fargo Bank for a $50 million revolving line of credit. The facility is intended to support general corporate purposes. We do not have any current plans to draw on the facility. For more information please refer to the Form 8-K filed with the SEC today.

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