$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.

$CRAY Nice work longs. Looks like your significant other is getting a diamond from $TIF this Valentines 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.

$CRAY talk about $CRAZY seasonal earning; Q1 to Q3 are mostly loss; Q4 is always over 1 buck

— 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.

$CRAY is going Ca-Razy today. Trifecta of good news: Nice $40 million defense contract, an earnings beat and strong outlook.

— catherine tymkiw (@ctymkiw) Feb. 14 at 11:50 AM


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