$CRAY: Supercomputer-maker Soars on EPS, Rev. beat
Shares of supercomputer-maker Cray are skyrocketing on super earnings results.
The Seattle-based manufacturer of supercomputers reported quarterly profits and revenues that surpassed Wall Street consensus estimates, according to data from the Analyst Ratings Network.
Fourth quarter EPS of $1.27 beat expectations by nine cents. Quarterly revenues grew nearly 63% from the same period a year ago to $307.4 million.
The much-better than anticipated results had some investors thanking the company for a Happy Valentine’s Day.
— Kramer (@LukeKramer) Feb. 14 at 10:41 AM
Guidance also impressed. The company said sales would be in the range of $600 million for the year. About half of that revenue is expected to come in during the fourth quarter of 2014, according to the press release.
A large upswing in sales during the last three months of the year is typical for $Cray, cashtaggers noted.
— Derrick T (@angstrom) Feb. 14 at 12:00 PM
Rounding out the bullish earnings results was the announcement of two government contracts worth more than $40 million. The Air Force Research Laboratory in Ohio and the Navy Department of Defense Supercomputing Research Center ordered Cray XC30 supercomputers and Sonexions storage systems.
— catherine tymkiw (@ctymkiw) Feb. 14 at 11:50 AM
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