Cray Announces Selected Preliminary 2016 Financial Results
SEATTLE, Wash., Jan. 10 -- Global supercomputer leader Cray Inc. (Nasdaq: CRAY) has announced selected preliminary 2016 financial results. The 2016 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 2016 is expected to be about $630 million, in the range of the previously provided guidance, and the Company expects to be profitable on both a GAAP and non-GAAP basis for 2016.
As of December 31, 2016, cash and investments are expected to total about $225 million.
For 2017, while a wide range of results remains possible, the Company currently believes it will be difficult to grow over 2016.
“While 2016 was challenging, we finished the year on a high-note, delivering the largest revenue quarter in our history,” said Peter Ungaro, president and CEO of Cray. “We achieved all of the large system acceptances and most of the smaller ones we were working toward in the quarter, installing high-end supercomputers and analytics solutions at numerous sites around the world. We are not yet able to provide detailed 2017 guidance as we continue to lack visibility for the year, but we remain confident in our competitive position and our ability to drive long-term growth.”
About Cray Inc.
Global supercomputing leader Cray Inc. (Nasdaq: CRAY) provides innovative systems and solutions enabling scientists and engineers in industry, academia and government to meet existing and future simulation and analytics challenges. Leveraging more than 40 years of experience in developing and servicing the world’s most advanced supercomputers, Cray offers a comprehensive portfolio of supercomputers and big data storage and analytics solutions delivering unrivaled performance, efficiency and scalability. Cray’s Adaptive Supercomputing vision is focused on delivering innovative next-generation products that integrate diverse processing technologies into a unified architecture, allowing customers to meet the market’s continued demand for realized performance. Go to www.cray.com for more information.