Cray (CRAY) Tops Q3 EPS by 42c

Cray (NASDAQ: CRAY) reported Q3 EPS of $0.48, $0.42 better than the analyst estimate of $0.06. Revenue for the quarter came in at $191.4 million versus the consensus estimate of $140.95 million.

A wide range of results remains possible for 2015. A significant portion of our expected fourth quarter revenue is dependent on a few large, complex systems which are currently anticipated to be accepted late in the quarter. Assuming successful acceptance of these systems, we expect revenue to be approximately $715 million for the year. For 2015, non-GAAP gross margin is expected to be in the 30-33% range and total non-GAAP operating expenses are anticipated to be in the range of $180 million. Based on this outlook, we expect our GAAP and non-GAAP operating profit margin to improve significantly for 2015 as compared to 2014.

*** The Street sees FY15 revenue of $715.7 million.

For earnings history and earnings-related data on Cray (CRAY) click here.

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