Back to Table of contents

Primeur weekly 2018-05-07

Quantum computing

Portland State receives NSF grant to battle cyber-security threats ...

Picking one photon out of the flow ...

Focus on Europe

Spring 2018 edition of the e-IRG Magazine available ...

Middleware

Software System Award honours Project Jupyter Team ...

Hardware

Cray reports first quarter 2018 financial results ...

Cavium announces ThunderX2 general availability ...

NetSpeed and Esperanto partner to power SoCs for Artificial Intelligence ...

UltraSoC analytics IP selected by Esperanto Technologies for RISC-V many-core parallel processing in AI and ML applications ...

Design for magneto-electric device may improve your memory ...

Cavium announces availability of driver to support NVMe over fibre channel ...

Supermicro launches new look all-flash 1U server with 256TB of hot-swap NVMe optimized Intel "Ruler" drives ...

Applications

CIRES expert and NIST colleagues discover electroplated rhenium's unexpected superconductive characteristics ...

Supercomputer simulations reveal new "Achilles heel" in dengue virus ...

Nanodiamond turns into controllable light source ...

Catching mantle plumes by their magma tails - Deep Earth imaging supported by XSEDE resources ...

Nine research teams receive GLCPC allocations on Blue Waters ...

NCSA announces 2018-19 Blue Waters Graduate Fellows ...

Eni achieves breakthrough in oil & gas reservoir numerical modelling with HPC4 supercomputer ...

The Cloud

Cisco sets new standard for production grade Kubernetes, enabling enterprises to confidently deliver technology innovation faster with AppDynamics and Cisco CloudCenter ...

Bright Computing signs X-ISS as reseller and services partner ...

Cray reports first quarter 2018 financial results

1 May 2018 Seattle - Cray Inc. has issued financial results for its first quarter ended March 31, 2018. All figures are based on U.S. GAAP unless otherwise noted. Revenue for the first quarter of 2018 was $79.6 million, compared to $59.0 million in the first quarter of 2017. Net loss for the first quarter of 2018 was $25.0 million, or $0.62 per diluted share, compared to a net loss of $19.2 million, or $0.48 per diluted share in the first quarter of 2017. Non-GAAP net loss was $21.4 million, or $0.53 per diluted share for the first quarter of 2018, compared to non-GAAP net loss of $28.4 million, or $0.71 per diluted share in the first quarter of 2017.

Overall gross profit margin on a GAAP and non-GAAP basis for the first quarter of 2018 was 34%, compared to 40% on a GAAP and non-GAAP basis in the first quarter of 2017.

Operating expenses for the first quarter of 2018 were $51.8 million, compared to $56.1 million in the first quarter of 2017. Non-GAAP operating expenses for the first quarter of 2018 were $48.5 million, compared to $53.3 million in the first quarter of 2017.

As of March 31, 2018, cash, investments and restricted cash totaled $147 million. Working capital at the end of the first quarter was $332 million, compared to $354 million at December 31, 2017.

"We are off to a strong start to the year", stated Peter Ungaro, president and CEO of Cray. "We completed several large acceptances during the first quarter at sites around the world, a few of these ahead of schedule. We had one of our strongest bookings quarters in several years, what we believe is another early sign that our target market is continuing to strengthen. Among these new awards, we were selected by the Japanese National Institutes for Quantum and Radiological Science and Technology to deliver our latest generation XC supercomputer to serve as their new flagship system. These are good examples of our strong competitive position, which is key for us to drive growth in 2018 and beyond."

For 2018, while a wide range of results remains possible, Cray continues to expect revenue to grow in the range of 10-15% over 2017. Revenue is expected to be about $110 million for the second quarter of 2018. For 2018, GAAP and non-GAAP gross margins are expected to be in the low-30% range. Non-GAAP operating expenses for 2018 are expected to be in the range of $190 million. For 2018, non-GAAP adjustments are expected to total about $14 million, driven primarily by share-based compensation. For the year, GAAP operating expenses are anticipated to be about $12 million higher than non-GAAP operating expenses, and GAAP gross profit is expected to be about $2 million lower than non-GAAP gross profit.

Based on this outlook, Cray's effective GAAP and non-GAAP tax rates for 2018 are both expected to be in the low-single digit range, on a percentage basis.

Actual results for any future periods are subject to large fluctuations given the nature of Cray's business.

Recent highlights include the following:

  • In March, the National Institutes for Quantum and Radiological Science and Technology (QST) in Japan selected a Cray XC50 supercomputer to be their new flagship supercomputing system. Once installed, the new system is expected to be more than twice as powerful as the existing system.
  • In March, Cray has added new options to its line of CS-Storm GPU-accelerated servers as well as improved fast-start Artificial Intelligence (AI) configurations, making it easier for organisations implementing AI to get started on their journey with AI proof-of-concept projects and pilot-to-production use.
  • In April, Paderborn University in Germany selected a Cray CS500 cluster system as well as Cray's ClusterStor storage appliance. The supercomputer will feature FPGA accelerators as well as the latest generation Intel Xeon processors. It is expected to be put into production in 2018 and to triple the performance of the previous flagship system.
  • In April, Cray has added AMD EPYC processors to its Cray CS500 product line. Cray has integrated and optimized the Cray Programming Environment and libraries to enhance AMD EPYC processor performance. The new system is expected to be generally available in Summer 2018.
Source: Cray

Back to Table of contents

Primeur weekly 2018-05-07

Quantum computing

Portland State receives NSF grant to battle cyber-security threats ...

Picking one photon out of the flow ...

Focus on Europe

Spring 2018 edition of the e-IRG Magazine available ...

Middleware

Software System Award honours Project Jupyter Team ...

Hardware

Cray reports first quarter 2018 financial results ...

Cavium announces ThunderX2 general availability ...

NetSpeed and Esperanto partner to power SoCs for Artificial Intelligence ...

UltraSoC analytics IP selected by Esperanto Technologies for RISC-V many-core parallel processing in AI and ML applications ...

Design for magneto-electric device may improve your memory ...

Cavium announces availability of driver to support NVMe over fibre channel ...

Supermicro launches new look all-flash 1U server with 256TB of hot-swap NVMe optimized Intel "Ruler" drives ...

Applications

CIRES expert and NIST colleagues discover electroplated rhenium's unexpected superconductive characteristics ...

Supercomputer simulations reveal new "Achilles heel" in dengue virus ...

Nanodiamond turns into controllable light source ...

Catching mantle plumes by their magma tails - Deep Earth imaging supported by XSEDE resources ...

Nine research teams receive GLCPC allocations on Blue Waters ...

NCSA announces 2018-19 Blue Waters Graduate Fellows ...

Eni achieves breakthrough in oil & gas reservoir numerical modelling with HPC4 supercomputer ...

The Cloud

Cisco sets new standard for production grade Kubernetes, enabling enterprises to confidently deliver technology innovation faster with AppDynamics and Cisco CloudCenter ...

Bright Computing signs X-ISS as reseller and services partner ...