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Cray reports Q2; posts profits

Cray reported results for its third fiscal quarter ended Sep 30, and posted in the black this time.

Cray logoRevenue for the quarter grew to $55.0 million compared to $32.6 million in the prior year period. The company reported net income for the quarter of $5.1 million or $0.16 per share compared to a net loss of ($8.3 million) or ($0.37) per share in the third quarter of 2006.

Margins were also looking better across the board

Total gross margin for the third quarter of 2007 was 40.3 percent compared to 35.0 percent in the prior year period. Product margin was 40.1 percent compared to 27.0 percent in the third quarter of 2006. Service margin of 41.0 percent for the third quarter was in line with the company’s target level.

Cray is still anticipating a loss for the year overall.

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