This week Cray Inc. announced 2011 preliminary financial results projecting a loss for the year. Unspecified component shortages stymied the acceptance of Titan at ORNL, but the year ahead is actually looking good for the company.
With incredible efforts from our employees and our customers we were able to complete the vast majority of our system acceptances, but due to delays related to a key component of our systems we weren’t able to complete our planned acceptance at Oak Ridge,” said Peter Ungaro, president and CEO of Cray. “This acceptance is currently in process and we expect to complete it in the first quarter of 2012. We previously expected to have record revenue in 2012, and with this change in timing we have increased our outlook accordingly.
Lumpy revenue has always been a challenge for Cray, but I see this as just a bump in the road. The company expects revenue to go up something like 60 percent year over year with $400-$420 Million expected in 2012.