Key Developments: Cray Inc (CRAY.O)
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23 May 2013
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Latest Key Developments (Source: Significant Developments)
Cray Inc Issues FY 2013 Guidance; Revenue Guidance Above Analysts' Estimates
Cray Inc announced that for fiscal 2013, it expect revenue to be approximately $500 million. Revenue is expected to ramp quarterly during 2013 with roughly $80 million in the second quarter and about 45% of the annual revenue expected in the fourth quarter. Non-GAAP adjustments to pre-tax earnings are anticipated to be over $10 million in 2013, driven by stock-based compensation and acquisition related expenses. Based on this outlook, we expect to be profitable on a GAAP and non-GAAP basis for fiscal 2013. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $498 million for fiscal 2013. Full Article
Cray Inc Secures $32 Million Contract to Upgrade Cray XC30 System at Swiss National Supercomputing Centre
Cray Inc announced that it has signed a contract with the Swiss National Supercomputing Centre (CSCS) to upgrade and expand its Cray XC30 supercomputer. When the upgrade and expansion is completed, the Centre's Cray XC system, nicknamed Piz Daint after a mountain in the Swiss Alps, will be the first petascale supercomputer in Switzerland. In September 2012, Cray announced it was awarded a contract to provide CSCS with a 750-teraflop Cray XC30 supercomputer and a Cray Sonexion storage system. Under the terms of this new contract, Cray will upgrade Piz Daint to include NVIDIA(R) Tesla K20X GPU accelerators. CSCS is the first customer to order a Cray XC supercomputer with NVIDIA GPUs. This contract is valued at more than $32 million, and the upgraded system is expected to be operational in 2014. Full Article
Cray Inc Issues FY 2013 Revenue Guidance In Line With Analysts' Estimates; Comments On Quarterly 2013 Revenue Guidance
Cray Inc announced that for fiscal 2013, it expects revenue to be approximately $500 million. Revenue is expected to ramp quarterly during 2013 with roughly $70 million in the first quarter and about 45% of the annual revenue expected in the fourth quarter. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $498 million for fiscal 2013; revenue of $60 million for first quarter of 2013; revenue of $90 million for second quarter of 2013; revenue of $123 million for third quarter of 2013; revenue of $223 million for fourth quarter of 2013. Full Article
Cray Inc Receives $23 Million Contract
Cray Inc announced that it has been awarded a $23 million dollar contract to provide two Cray XC30 supercomputers and two Cray Sonexion 1600 storage systems to Germany's National Meteorological Service, the Deutscher Wetterdienst (DWD). Full Article
Cray Inc Lowers FY 2012 Revenue Guidance
Cray Inc announced that for fiscal 2012, it expects total revenue of about $420 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $446 million for fiscal 2012. Full Article
Cray Inc Secures $39 Million Supercomputer Contract From North-German Supercomputing Alliance
Cray Inc announced the Company has been awarded a $39 million contract from the North-German Supercomputing Alliance (HLRN) to deliver a distributed Cray XC30 supercomputing system, which will be operated at two sites the Zuse Institute Berlin (ZIB) and the High Performance Computing Center (RRZN) at Leibniz University in Hannover, Germany. Consisting of products and services, the multi-year, multi-phase contract is valued at more than $39 million, and a vast majority of the system is expected to be delivered and put into production in 2013. As part of this contract, the HLRN-III system will also include a Cray storage solution, which will incorporate products from DDN and Hitachi Data Systems. Full Article
Cray Inc Completes Acquisition of Appro International Inc
Cray Inc announced it has completed the previously announced transaction to acquire Appro International, Inc. The aggregate merger consideration paid by Cray was approximately $21.8 million in cash, which reflects approximately $3.2 million in deductions from the previously-announced $25 million purchase price (for certain transaction expenses paid and working capital adjustments) that were made in connection with the acquisition. The agreement was previously announced on Nov. 9, 2012. Full Article
Cray Inc Issues FY 2012 Revenue Guidance Above Analysts' Estimates; Comments On FY 2013 Revenue Guidance
Cray Inc announced that for fiscal 2012, it expects total revenue to be in the range of $450 million. For fiscal 2013, it expects revenue to grow slightly as compared to 2012. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $438 million for fiscal 2012 and revenue of $402 million for fiscal 2013. Full Article
Cray Inc To Acquire Appro International, Inc
Cray Inc announced it signed a definitive agreement to acquire Appro International, Inc., a privately-held developer of advanced scalable supercomputing solutions, for approximately $25 million in cash, which assumes at least a $3.5 million net working capital balance at closing with no debt. Highlights of the transaction include: Upon closing, Appro will become Cray's newly-formed Cluster Solutions business, led by Daniel Kim, current CEO of Appro; After the completion of the transaction, Cray expects to add approximately 90 Appro employees; Cray will sell Appro's HPC cluster products under the Cray brand; The transaction is expected to close relatively soon, possibly withinthe next few days or weeks, subject to customary closing conditions. Full Article
Cray Inc. Issues Q3, FY 2012 Revenue Guidance In Line With Analysts' Estimates
Cray Inc. announced that for fiscal 2012, it expects revenue to be in the range of $430-$450 million. For third quarter of 2012, it expects revenue to be about $30 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $30 million for third quarter of 2012; revenue of $439 million for fiscal 2012. Full Article
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