SEATTLE, Jan. 15, 2019 — Global supercomputer leader Cray Inc. has announced selected preliminary 2018 financial results. The 2018 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 2018 is expected to be about $450 million. As of December 31, 2018, cash, investments, and restricted cash totaled somewhat more than $240 million.
While a wide range of results remains possible for 2019 and based on the Company’s preliminary 2018 results, Cray continues to expect 2019 annual revenue to grow modestly compared to 2018. The Company expects to recognize a substantial net loss for both 2018 and 2019. Revenue is expected to be about $70 million for the first quarter of 2019.
“We finished the year on a strong note, completing all of our large acceptances targeted for the fourth quarter,” said Peter Ungaro, president and CEO of Cray. “While our core market continues to show signs of a rebound, we expect to grow modestly in 2019 as we transition to our next generation Shasta supercomputer systems late this year and a significant number of large opportunities are slated for delivery in 2020 and beyond. Overall, I’m pleased with our progress in 2018 and excited about our product roadmap and ability to drive long-term growth.”
About Cray Inc.
Cray Inc. combines computation and creativity so visionaries can keep asking questions that challenge the limits of possibility. Drawing on more than 45 years of experience, Cray develops the world’s most advanced supercomputers, pushing the boundaries of performance, efficiency and scalability. Cray continues to innovate today at the convergence of data and discovery, offering a comprehensive portfolio of supercomputers, high-performance storage, data analytics and artificial intelligence solutions. Go to www.cray.com for more information.
Source: Cray Inc.