Cray Announces Selected Preliminary 2018 Financial Results
CRAY (CRAY)
Last cray earnings: 8/2 04:05 pm
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Source: GlobeNewswire
SEATTLE, Jan. 14, 2019 (GLOBE NEWSWIRE) -- Global supercomputer leader Cray Inc. (Nasdaq: CRAY) today announced selected preliminary 2018 financial results. The 2018 anticipated results presented in this release are based on preliminary financial data and are subject to change until the year-end financial reporting process is complete. Based on preliminary results, total revenue for 2018 is expected to be about $450 million. As of December 31, 2018, cash, investments, and restricted cash totaled somewhat more than $240 million. While a wide range of results remains possible for 2019 and based on the Company’s preliminary 2018 results, Cray continues to expect 2019 annual revenue to grow modestly compared to 2018. The Company expects to recognize a substantial net loss for both 2018 and 2019. Revenue is expected to be about $70 million for the first quarter of 2019. “We finished the year on a strong note, completing all of our large acceptances targeted for the fourth quarter,
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