Cray Announces Selected Preliminary 2016 Financial Results
January 09 2017 - 5:00PM
Global supercomputer leader Cray Inc. (Nasdaq:CRAY) today 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.
Safe Harbor StatementThis press release
contains forward-looking statements within the meaning of Section
21E of the Securities Exchange Act of 1934 and Section 27A of the
Securities Act of 1933, including, but not limited to, statements
related to Cray’s financial guidance and expected operating
results. These statements involve current expectations, forecasts
of future events and other statements that are not historical
facts. Inaccurate assumptions as well as known and unknown risks
and uncertainties can affect the accuracy of forward-looking
statements and cause actual results to differ materially from those
anticipated by these forward-looking statements. Factors that could
affect actual future events or results include, but are not limited
to, the risk that Cray does not achieve the operational or
financial results that it expects, the risk that changes to these
preliminary results will be required as a result of completing the
financial reporting closing process and financial audit, the risk
that Cray will not be able to secure orders for Cray systems to be
accepted in the future when or at the levels expected, the risk
that the systems ordered by customers are not delivered when
expected, do not perform as expected once delivered or have
technical issues that must be corrected before acceptance, the risk
that the acceptance process for delivered systems is not completed,
or customer acceptances are not received, when expected or at all,
the risk that Cray’s big data products, including storage, are not
as successful as expected, the risk that Cray is not able to
successfully complete its planned product development efforts in a
timely fashion or at all, the risk that Cray is not able to achieve
anticipated gross margin or expense levels and such other risks as
identified in Cray’s quarterly report on Form 10-Q for the period
ended September 30, 2016, and from time to time in other reports
filed by Cray with the U.S. Securities and Exchange Commission. You
should not rely unduly on these forward-looking statements, which
apply only as of the date of this release. Cray undertakes no duty
to publicly announce or report revisions to these statements as new
information becomes available that may change Cray’s
expectations.
Cray is a federally registered trademark of Cray Inc. in the
United States and other countries.
Cray Media: Nick Davis 206/701-2123 pr@cray.com
Investors: Paul Hiemstra 206/701-2044 ir@cray.com
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