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Primeur weekly 2015-05-11

Special

German Tier 2 supercomputer centres should form a collaboration network for High-Performance Computing ...

The Cloud

ANSYS 16.1 delivers enterprise simulation On The Cloud ...

IBM Watson establishes hybrid Cloud capabilities to accelerate new insights for the enterprise ...

HP and SAP accelerate journey to SAP S/4HANA on HP Helion managed Cloud ...

Industrial virtual factory lowers costs and reduces emissions ...

HP makes performance and load testing solutions available on the Microsoft Azure Marketplace ...

EuroFlash

High Performance computing element of the European Commission's new Digital Single Market Strategy for Europe ...

Biologists are increasingly becoming data scientists ...

Announcing the Hans Meuer Award winning Research Paper ...

ADVA Optical Networking launches ConnectGuard for ultimate data protection ...

German researchers use IBM Big Data solution to manage world's largest trove of climate data ...

15 million euro boost for European astronomy ...

USFlash

Gartner names CoolIT Systems a Cool Vendor in Data Center Management, Power and Cooling Report ...

University of Arkansas acquires new supercomputer for research support ...

OpenMP 4.0 examples published ...

Cray names Nick Gorga to Vice President of Asia Pacific Sales ...

Cray reports first quarter financial results ...

Cray Urika-XA system wins Best of Show Award at Bio-IT World ...

Purdue's eighth supercomputing cluster in eight years not quite 'minute' Rice, but built in a day ...

UT Austin researchers use supercomputing to assess the impact of climate change on the country's growing season ...

IBM Watson Health, Epic and Mayo Clinic to unlock new insights from electronic health records ...

Scientists get ultra-fast and robust network across the Atlantic Ocean ...

Nepal disaster relief efforts to be aided by glacier researchers ...

Clinicians tap Watson to accelerate DNA analysis and inform personalized treatment options for patients ...

New chip architecture may provide foundation for quantum computer ...

The next step in DNA computing: GPS mapping? ...

IBM unveils Power Systems solutions to support SAP HANA ...

Cray reports first quarter financial results

5 May 2015 Seattle - Cray Inc. has issued financial results for the first quarter ended March 31, 2015. All figures are based on U.S. GAAP unless otherwise noted.

Revenue for the first quarter was $79.6 million, which compares with $55.1 million in the first quarter of 2014. The company reported a net loss for the quarter of $9.4 million, or $0.24 per diluted share, compared to a net loss of $12.9 million, or $0.34 per diluted share in the prior year period. Non-GAAP net loss was $10.9 million, or $0.28 per diluted share for the first quarter, compared to non-GAAP net loss of $17.6 million, or $0.46 per diluted share for the same period last year.

Overall gross profit margin for the first quarter of 2015 was 30%, compared to 33% for the first quarter of 2014. Total non-GAAP gross profit margin for the first quarter of 2015 was 31%, compared to 34% for the first quarter of 2014.

Operating expenses for the first quarter of 2015 were $40.9 million, compared to $39.8 million for the prior year period. Non-GAAP operating expenses for the first quarter of 2015 were $37.8 million, compared to $37.3 million for the prior year period.

As of March 31, 2015, cash, investments and restricted cash increased slightly compared to December 31, 2014 and totaled $148 million. Working capital decreased modestly to $353 million, compared to $362 million at the end of 2014.

"We had a solid first quarter as we continued our strong run of new wins, including at Petroleum Geo-Services, which selected an XC40 and Cray storage to power its most advanced seismic imaging efforts", stated Peter Ungaro, president and CEO of Cray. "We also installed our first XC supercomputer in Poland at Stalprodukt, a leading advanced steel manufacturer. Looking toward the future, we recently outlined our plans for our next-generation supercomputer, code-named 'Shasta', targeted for 2018. A Shasta-based system was selected by Argonne National Laboratory along with Cray storage and an XC system for the Department of Energy's CORAL project, and we're excited to be partnering with Intel to deliver these powerful new systems. This is a significant validation of our product roadmap as Shasta will deliver on our Adaptive Supercomputing vision to bridge the world of supercomputing with data analytics."

The company anticipates revenue for 2015 to be in the range of $715 million. Revenue is expected to ramp quarterly during 2015, with about $130 million in the second quarter and roughly 40-45% of the total year in the fourth quarter. Non-GAAP gross margin for 2015 is expected to be about 35%. Total non-GAAP operating expenses for the year are anticipated to be about $195 million. Based on this outlook, Cray expects to improve its GAAP and non-GAAP operating profit margin significantly for 2015.

The company's 2015 effective non-GAAP tax rate is expected to be in the range of 6-10%.

Actual results for any future period are subject to large fluctuations and a wide range of results remains possible given the nature of Cray's business.

Recent highlights include the following:

  • In April, Cray's next-generation supercomputer, code-named "Shasta", was selected by Argonne National Laboratory for the U.S. Department of Energy's CORAL project. Cray will be collaborating with Intel on this project and the contract includes a plan for a Cray XC and storage delivery in 2016 and an anticipated larger Cray Shasta-based system delivery in 2018.
  • In April, the U.S. Department of Energy's National Energy Research Scientific Computing Center (NERSC) selected a Cray XC40 supercomputer to be installed at its laboratory in Berkeley, California in 2015. This system will be a predecessor to the previously announced "Cori" system, also a Cray, that is expected to be installed at NERSC in 2016.
  • In April, the Cray Urika-XA Big Data analytics solution received the Best of Show award for IT Hardware and Infrastructure at the 2015 Bio-IT World Conference & Expo.
  • In March, Cray's XC and Sonexion storage were selected by Petroleum Geo-Services, a global energy company based in Oslo, Norway, to power its most advanced seismic imaging project called Triton. The system is expected to be installed in 2015.
  • In the first quarter, a Cray XC30 supercomputer was installed at Stalprodukt S.A. in Poland, a global steel processor, for structural analysis modelling used in the testing of steel designs.
  • Cray strengthened its global regional sales initiatives with the recent appointments of Catalin Morosanu to head up its sales efforts in Europe, Middle East and Africa and Nick Gorga to head up its sales efforts in Asia-Pacific.
- In March, Martin ("Marty") Homlish joined Cray's Board of Directors. Mr. Homlish previously ran marketing for Sony, SAP and Hewlett-Packard, and is currently the CEO of AMP, an end-to-end marketing agency.
Source: Cray

Back to Table of contents

Primeur weekly 2015-05-11

Special

German Tier 2 supercomputer centres should form a collaboration network for High-Performance Computing ...

The Cloud

ANSYS 16.1 delivers enterprise simulation On The Cloud ...

IBM Watson establishes hybrid Cloud capabilities to accelerate new insights for the enterprise ...

HP and SAP accelerate journey to SAP S/4HANA on HP Helion managed Cloud ...

Industrial virtual factory lowers costs and reduces emissions ...

HP makes performance and load testing solutions available on the Microsoft Azure Marketplace ...

EuroFlash

High Performance computing element of the European Commission's new Digital Single Market Strategy for Europe ...

Biologists are increasingly becoming data scientists ...

Announcing the Hans Meuer Award winning Research Paper ...

ADVA Optical Networking launches ConnectGuard for ultimate data protection ...

German researchers use IBM Big Data solution to manage world's largest trove of climate data ...

15 million euro boost for European astronomy ...

USFlash

Gartner names CoolIT Systems a Cool Vendor in Data Center Management, Power and Cooling Report ...

University of Arkansas acquires new supercomputer for research support ...

OpenMP 4.0 examples published ...

Cray names Nick Gorga to Vice President of Asia Pacific Sales ...

Cray reports first quarter financial results ...

Cray Urika-XA system wins Best of Show Award at Bio-IT World ...

Purdue's eighth supercomputing cluster in eight years not quite 'minute' Rice, but built in a day ...

UT Austin researchers use supercomputing to assess the impact of climate change on the country's growing season ...

IBM Watson Health, Epic and Mayo Clinic to unlock new insights from electronic health records ...

Scientists get ultra-fast and robust network across the Atlantic Ocean ...

Nepal disaster relief efforts to be aided by glacier researchers ...

Clinicians tap Watson to accelerate DNA analysis and inform personalized treatment options for patients ...

New chip architecture may provide foundation for quantum computer ...

The next step in DNA computing: GPS mapping? ...

IBM unveils Power Systems solutions to support SAP HANA ...