Dallas, Texas 02/18/2014 (FINANCIALSTRENDS) – Cray Inc.(NASDAQ:CRAY) has announced its fourth quarter results along with the Full Year financial position, ending Dec 31, 2013. First, the full year results indicated $525.7 million, a 25% increase over last year’s full year’s results valued at $421.1 million. The net income was reported to $32.2 million and diluted share stood at $0.81 per share.
Cray Inc.(NASDAQ:CRAY) beat estimates in the fourth quarter results as well. Interestingly, over half of 2013 revenues has come in from this quarter itself. The guiding for 2014 is $600 million and is nearly 14% higher over previous, while the consensus estimate was at $596.3 million. The gross margin for the full-year is expected to be in the region of 30% and above. The company posted 35% in 2013.
Cray Inc. (NASDAQ:CRAY) which is a solution provider for technology firms as it provides the hardware infrastructure these organizations need. The Seattle-based manufacturer who also designs, develops, markets and provides long-term technical support on its products has a product list which constitutes the spine of the technology hardware infrastructure. One of the oldest known technology hardware brands- Cray Inc.(NASDAQ:CRAY) today has the product to support next-generation technology standards as well. Be it high-performance Computing system or supercomputers, clusters, storage solutions, storage besides software and engineering services, Cray is known to set the standards of the segment.
Cray Inc.(NASDAQ:CRAY) currently offers services in two segments which are mainstream information technology infrastructure- Big Data and Super Computing. Besides, it also works on the Storage and Data Analytics successes as well.
Recent financial results established the company’s growth in sales in the storage and analytics hardware platforms. The loss-making segments were Research and Development divisions, besides the Acquisiton section, which saw the company pick-up ApproInternational, recording over $220.4 million in terms of cash and investments for the period.