Cray reports Q1 results; posts loss

Print Friendly, PDF & Email

HPC stalwart Cray, Inc. announced Q1 financial results today. Details at their site. Here’s the skinny

Cray logo…Cray today announced financial results for the first quarter ended March 31, 2008. Revenue for the quarter was $26.1 million compared to $47.1 million in the prior year period. The company reported a net loss for the quarter of ($10.6 million) or ($0.33) per share compared to a net loss of ($0.8 million) or ($0.03) per share in the first quarter of 2007.

Of course they had a bumpy quarter thanks to slippages in AMD’s Opteron delivery (think that might have influenced their recent Intel decision?).

Despite the performance, CEO Ungaro is optimistic

“Our goals for 2008 are to be profitable and to grow. Though not evident in first quarter results, we’ve made great progress over the first few months this year toward achieving these goals,” said Peter Ungaro, president and CEO of Cray. “We’ve announced a number of significant wins this year, including a near-petaflops system with the University of Tennessee and four systems with the U.S. Department of Defense; we delivered initial quad-core Cray XT4 systems; we recognized revenue on our first Cray XT5h vector system; and finally, with the Cray XT5 MPP supercomputer due to begin shipping later this year, we will expand our addressable market by as much as fifty percent.”