Shares of supercomputer maker Cray (CRAY) are unchanged in late trading at $7.88 after the company reported Q4 revenue ahead of consensus and forecast the current quarter’s revenue and the full year’s revenue higher as well.
Revenue in the three months ended in December fell 58%, year over year, to $91.6 million, a lingering effect of the delay in production of some of Cray’s machines. That delay has hampered its sales to Oak Ridge National Labs the last several quarters. (More detail is provided in Cray’s 10-K statement, filed today.)
Still, it was above the $89 million the Street had been modeling.
Earnings per share totaled 85 cents, ahead of the average 22 cents Street estimate, with profit being boosted by the use of $14.7 million from Cray’s deferred tax assets.
For this quarter, the company sees about $100 million in revenue, ahead of the average $99.5 million estimate. For the year, the company expects $400 million to $420 million, with much of the balance coming only in Q4 of this year.
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