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Primeur weekly 2018-11-05

Exascale supercomputing

Cray introduces first exascale-class supercomputer ...

DOE to build next-generation supercomputer at Lawrence Berkeley National Laboratory ...

Crowd computing

FaceMe to use Tatau's distributed supercomputer ...

Quantum computing

Full steam ahead to the quantum web: Mainz University is involved in the European Flagship on Quantum Technologies programme ...

A quantum computer for Europe: Joining forces for new FET flagship project OpenSuperQ ...

Tianhe-2 supercomputer works out the criterion for quantum supremacy ...

A billion euro for quantum research - the Danish contribution ...

One step closer to complex quantum teleportation ...

Tests show integrated quantum chip operations possible ...

Researchers create scalable platform for on-chip quantum emitters ...

Berkeley computer theorists show path to verifying that quantum beats classical ...

Multi-functional quantum bits for future computers ...

Focus on Europe

PRACE to issue The Scientific Case for Computing in Europe 2018-2026 ...

PRACE Digest 2018 now available online ...

Open Edge and HPC Initiative to be launched at SC18 ...

Human brain supercomputer with 1 million processors switched on for first time ...

Middleware

AccelStor unveils the advanced flash data reduction technology for the era of data intensive workloads ...

Bright unveils plans to exhibit at SC18 in Dallas ...

Hardware

Cray reports third quarter 2018 financial results ...

Ohio Supercomputer Center installing new Pitzer Cluster built by Dell EMC ...

SDSC Chief Data Science Officer Ilkay Altintas named an HDSI Fellow ...

Applications

Esther Bron is the winner of the Young eScientist Award 2018 ...

University of Tokyo team becomes Gordon Bell Prize finalist after performing the most complex earthquake simulation to date ...

HPC & Artificial Intelligence: Addressing humanity's grand challenges at SC18 ...

Machine learning to help optimize traffic and reduce pollution ...

The Cloud

Red Hat refines hybrid Cloud innovation with latest version of the world's leading enterprise Linux platform ...

Cloud computing load balancing based on ant colony algorithms improves performance ...

VoiceBase extends deep learning neural network compute to Verne Global ...

HPE delivers first above-the-cloud supercomputing services for astronauts to advance space exploration ...

Cray reports third quarter 2018 financial results

30 Oct 2018 Seattle - Cray Inc. has issued financial results for its third quarter ended September 30, 2018. All figures are based on U.S. GAAP unless otherwise noted. Revenue for the third quarter of 2018 was $92.8 million, compared to $79.7 million in the third quarter of 2017. Net loss for the third quarter of 2018 was $22.4 million, or $0.55 per diluted share, compared to a net loss of $10.2 million, or $0.25 per diluted share in the third quarter of 2017. Non-GAAP net loss was $19.3 million, or $0.47 per diluted share for the third quarter of 2018, compared to non-GAAP net loss of $13.3 million, or $0.33 per diluted share in the third quarter of 2017.

For the third quarter of 2018, overall gross profit margin on a GAAP and non-GAAP basis was 27%, compared to 36% on a GAAP and non-GAAP basis in the third quarter of 2017.

Operating expenses for the third quarter of 2018 were $48.0 million, compared to $54.7 million in the third quarter of 2017. Non-GAAP operating expenses for the third quarter of 2018 were $44.6 million, compared to $43.9 million in the third quarter of 2017.

As of September 30, 2018, cash, investments, and restricted cash totaled $184 million. Working capital at the end of the third quarter was $294 million, compared to $325 million at June 30, 2018.

"We had a solid quarter, highlighted by several large system installations, as well as continued strong bookings and market activity", stated Peter Ungaro, president and CEO of Cray. "Today we launched our next generation supercomputing platform, code-named Shasta, which we plan to begin shipping late next year. This system's revolutionary design, including a new Cray designed system interconnect, builds on our long history of leadership at the high-end of the market to deliver game-changing innovations in hardware and software. NERSC, the National Energy Research Scientific Computing Center, selected Shasta and a future-generation Cray storage solution for its NERSC-9 programme. At $146 million, this is one of the largest awards in our company's history and a major endorsement of our technology roadmap. Without a doubt, Shasta represents a major step in setting ourselves up for strong future growth."

For 2018, while a wide range of results remains possible, Cray expects revenue to be in the range of $450 million. For 2018, GAAP and non-GAAP gross margins are expected to be in the range of 30%. 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:

  • On October 30, 2018, Cray unveiled its new, revolutionary supercomputing system code-named "Shasta". Shasta incorporates next-generation Cray system software to enable modularity and extensibility, a new Cray-designed system interconnect, unparalleled flexibility in processing choice within a system, and a software environment that provides for seamless scalability.
  • On October 30, 2018, the U.S. Department of Energy announced that the National Energy Research Scientific Computing Center has selected a Cray "Shasta" system for its NERSC-9 programme. The programme contract is valued at $146 million, one of the largest in Cray's history.
  • In October, Cray and Stradigi AI, a Canadian AI solutions provider, signed a strategic partnership to offer AI implementation solutions combining Stradigi AI's specialized data science skills with Cray's supercomputing expertise and advanced technologies.
  • In October, Cray announced a new working relationship with the Haas F1 Team in the FIA Formula One World Championship. Beginning with the 2019 season, the third-year American racing team will use the computational capacity of a Cray CS500 supercomputer, which uses AMD EPYC 7000 processors, to handle its large simulations in support of future race car designs.
  • In September, the Met Office, the U.K.'s National Weather Service, expanded its Cray XC40 supercomputer with AI and analytics capabilities. The Met Office added Cray's Urika-XC AI and analytics software suite to its supercomputers to unlock the highest levels of business value from the massive volumes of weather data it processes daily.
  • In September, the Institute for Basic Science in South Korea awarded Cray a contract valued at $9 million for a Cray XC50 supercomputer and a Cray ClusterStor L300 storage system.
  • In September, Cray has delivered and installed a Cray XC50 supercomputer and a ClusterStor L300 storage system at Railway Technical Research Institute, the research and development arm for Japan Railways Group.
Source: Cray

Back to Table of contents

Primeur weekly 2018-11-05

Exascale supercomputing

Cray introduces first exascale-class supercomputer ...

DOE to build next-generation supercomputer at Lawrence Berkeley National Laboratory ...

Crowd computing

FaceMe to use Tatau's distributed supercomputer ...

Quantum computing

Full steam ahead to the quantum web: Mainz University is involved in the European Flagship on Quantum Technologies programme ...

A quantum computer for Europe: Joining forces for new FET flagship project OpenSuperQ ...

Tianhe-2 supercomputer works out the criterion for quantum supremacy ...

A billion euro for quantum research - the Danish contribution ...

One step closer to complex quantum teleportation ...

Tests show integrated quantum chip operations possible ...

Researchers create scalable platform for on-chip quantum emitters ...

Berkeley computer theorists show path to verifying that quantum beats classical ...

Multi-functional quantum bits for future computers ...

Focus on Europe

PRACE to issue The Scientific Case for Computing in Europe 2018-2026 ...

PRACE Digest 2018 now available online ...

Open Edge and HPC Initiative to be launched at SC18 ...

Human brain supercomputer with 1 million processors switched on for first time ...

Middleware

AccelStor unveils the advanced flash data reduction technology for the era of data intensive workloads ...

Bright unveils plans to exhibit at SC18 in Dallas ...

Hardware

Cray reports third quarter 2018 financial results ...

Ohio Supercomputer Center installing new Pitzer Cluster built by Dell EMC ...

SDSC Chief Data Science Officer Ilkay Altintas named an HDSI Fellow ...

Applications

Esther Bron is the winner of the Young eScientist Award 2018 ...

University of Tokyo team becomes Gordon Bell Prize finalist after performing the most complex earthquake simulation to date ...

HPC & Artificial Intelligence: Addressing humanity's grand challenges at SC18 ...

Machine learning to help optimize traffic and reduce pollution ...

The Cloud

Red Hat refines hybrid Cloud innovation with latest version of the world's leading enterprise Linux platform ...

Cloud computing load balancing based on ant colony algorithms improves performance ...

VoiceBase extends deep learning neural network compute to Verne Global ...

HPE delivers first above-the-cloud supercomputing services for astronauts to advance space exploration ...