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Primeur weekly 2018-08-06

Focus

Univa's Navops launch product for Cloud bursting is breaking usage and performance records ...

Exascale supercomputing

Exascale Computing Project (ECP) names LLNL's Lori Diachin as new Deputy Director ...

Focus on Europe

High-resolution imaging of nanoparticle surface structures is now possible ...

Middleware

Univa announces collaboration with Sylabs Inc. and expanded support for Singularity container science ...

DDN reseller agreement with Tintri gives immediate support to Tintri customers ...

Fayetteville State University moves to Bright Cluster Manager 8.1 with help from Bright partner Data in Science to help take its Artificial Intelligence research to the next level ...

vScaler unlocks the benefits of virtualisation for GPU power users ...

Hardware

SDSC's Comet supercomputer extended into 2021 ...

BSC software makes Lenovo's new set of cooling technologies more energy efficient ...

MiTAC selects Mellanox BlueField System-on-Chip to accelerate their NVMe storage platforms ...

Mellanox introduces world's fastest Ethernet storage fabric controller ...

Cray reports second quarter 2018 financial results ...

Applications

Supercomputing the 'how' of chemical reactions ...

Preventing natural hazards from becoming societal disasters ...

Study of cardiac arrhythmia's is using high performance computing ...

UCF professor discovers a first-of-its-kind material for the quantum age ...

Memory-processing unit could bring memristors to the masses ...

Software framework designed to accelerate drug discovery wins IEEE International Scalable Computing Challenge ...

University at Buffalo's supercomputing facility awarded $2 million for economic development, PhD programme ...

The Cloud

How the Science Cloud could pay its way ...

Mirantis partners with Fujitsu to build supercomputer and wide-area distributed Cloud system for high performance computing at Hokkaido University ...

Cray reports second quarter 2018 financial results

31 Jul 2018 Seattle - Cray Inc. has issued financial results for its second quarter ended June 30, 2018. All figures are based on U.S. GAAP unless otherwise noted. Revenue for the second quarter of 2018 was $120.2 million, compared to $87.1 million in the second quarter of 2017. Net loss for the second quarter of 2018 was $11.0 million, or $0.27 per diluted share, compared to a net loss of $6.8 million, or $0.17 per diluted share in the second quarter of 2017. Non-GAAP net loss was $8.1 million, or $0.20 per diluted share for the second quarter of 2018, compared to non-GAAP net loss of $8.0 million, or $0.20 per diluted share in the second quarter of 2017.

For the second quarter of 2018, overall gross profit margin on a GAAP and non-GAAP basis was 31% and 32%, respectively, compared to 33% on a GAAP and non-GAAP basis in the second quarter of 2017.

Operating expenses for the second quarter of 2018 were $50.2 million, compared to $39.8 million in the second quarter of 2017. Non-GAAP operating expenses for the second quarter of 2018 were $47.1 million, compared to $37.5 million in the second quarter of 2017. Operating expenses for the second quarter of 2018 were impacted by lower research and development credits compared to the second quarter of 2017.

As of June 30, 2018, cash, investments, and restricted cash totaled $144 million. Working capital at the end of the second quarter was $325 million, compared to $332 million at March 31, 2018.

"Our second quarter was highlighted by a number of new AI wins, several installations of supercomputers and storage systems around the world, and expanded storage and AI offerings", stated Peter Ungaro, president and CEO of Cray. "We continue to see signs of improvement in our target market and, although it is still early to predict the extent of the rebound, I remain confident that our market is returning to growth. While we have work left to do, we remain focused on executing on our outlook for the remainder of 2018 and setting the company up for strong long-term growth."

For 2018, while a wide range of results remains possible, Cray expects revenue to be in the range of $450 million. For the third quarter of 2018, revenue is expected to be about $90 million. 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.

While a wide range of results remains possible and it is still early in the planning process, Cray expects 2019 annual revenue to grow modestly compared to its current 2018 outlook.

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

Recent highlights include the following:

  • In July, Cray has delivered and installed an XC50 supercomputer at the National Astronomical Observatory of Japan (NAOJ). The supercomputer is the world’s most powerful system dedicated to astrophysical calculations.
  • In July, the Indian Institute of Technology Bombay has selected a Cray XC50 supercomputer and Cray ClusterStor scale-out Lustre storage system. The new solution will support IIT Bombay in its mission to deliver transformative education to create leaders and innovators.
  • In June, Cray announced a new AI workflow software suite and reference system configurations to jump-start AI and analytics deployments. The company introduced the Cray Urika-CS AI and Analytics software suite for the Cray CS series, and new Cray Accel AI reference configurations to help both IT and AI teams.
  • In June, Cray announced the ClusterStor L300F Lustre-based scalable flash storage solution, designed for applications that need high-performance scratch storage to quickly store and retrieve intermediate results. Also in June, the latest GENCI supercomputer in France, integrated by ATOS, planned to include a five petabyte Cray ClusterStor storage solution.
  • In June, Cray has partnered with UK Innovation Center Digital Catapult and its Machine Intelligence Garage to help organisations of all sizes speed the development of machine intelligence systems.
  • In May, the Japan Meteorological Agency was in the process of implementing two Cray XC50 supercomputers at its site in Kiyose, Tokyo. These systems are expected to deliver a combined peak performance of more than 18 petaflops.
Source: Cray

Back to Table of contents

Primeur weekly 2018-08-06

Focus

Univa's Navops launch product for Cloud bursting is breaking usage and performance records ...

Exascale supercomputing

Exascale Computing Project (ECP) names LLNL's Lori Diachin as new Deputy Director ...

Focus on Europe

High-resolution imaging of nanoparticle surface structures is now possible ...

Middleware

Univa announces collaboration with Sylabs Inc. and expanded support for Singularity container science ...

DDN reseller agreement with Tintri gives immediate support to Tintri customers ...

Fayetteville State University moves to Bright Cluster Manager 8.1 with help from Bright partner Data in Science to help take its Artificial Intelligence research to the next level ...

vScaler unlocks the benefits of virtualisation for GPU power users ...

Hardware

SDSC's Comet supercomputer extended into 2021 ...

BSC software makes Lenovo's new set of cooling technologies more energy efficient ...

MiTAC selects Mellanox BlueField System-on-Chip to accelerate their NVMe storage platforms ...

Mellanox introduces world's fastest Ethernet storage fabric controller ...

Cray reports second quarter 2018 financial results ...

Applications

Supercomputing the 'how' of chemical reactions ...

Preventing natural hazards from becoming societal disasters ...

Study of cardiac arrhythmia's is using high performance computing ...

UCF professor discovers a first-of-its-kind material for the quantum age ...

Memory-processing unit could bring memristors to the masses ...

Software framework designed to accelerate drug discovery wins IEEE International Scalable Computing Challenge ...

University at Buffalo's supercomputing facility awarded $2 million for economic development, PhD programme ...

The Cloud

How the Science Cloud could pay its way ...

Mirantis partners with Fujitsu to build supercomputer and wide-area distributed Cloud system for high performance computing at Hokkaido University ...