Exhibit 99.1
craylogoregistered2a01a01a12.jpg
Cray Media:
Investors:
Juliet McGinnis
Paul Hiemstra
206/701-2152
206/701-2044
pr@cray.com
ir@cray.com


CRAY INC. REPORTS SECOND QUARTER 2018 FINANCIAL RESULTS
Company expects 2018 revenue growth in the range of 15%
        
Seattle, WA - July 31, 2018 - Global supercomputer leader Cray Inc. (Nasdaq: CRAY) today announced financial results for its second quarter ended June 30, 2018.

All figures in this release are based on U.S. GAAP unless otherwise noted. A reconciliation of GAAP to non-GAAP measures is included in the financial tables in this press release.

Revenue for the second quarter of 2018 was $120.2 million, compared to $87.1 million in the second quarter of 2017. Net loss for the second quarter of 2018 was $11.0 million, or $0.27 per diluted share, compared to a net loss of $6.8 million, or $0.17 per diluted share in the second quarter of 2017. Non-GAAP net loss was $8.1 million, or $0.20 per diluted share for the second quarter of 2018, compared to non-GAAP net loss of $8.0 million, or $0.20 per diluted share in the second quarter of 2017.

For the second quarter of 2018, overall gross profit margin on a GAAP and non-GAAP basis was 31% and 32%, respectively, compared to 33% on a GAAP and non-GAAP basis in the second quarter of 2017.

Operating expenses for the second quarter of 2018 were $50.2 million, compared to $39.8 million in the second quarter of 2017. Non-GAAP operating expenses for the second quarter of 2018 were $47.1 million, compared to $37.5 million in the second quarter of 2017. Operating expenses for the second quarter of 2018 were impacted by lower research and development credits compared to the second quarter of 2017.

As of June 30, 2018, cash, investments, and restricted cash totaled $144 million. Working capital at the end of the second quarter was $325 million, compared to $332 million at March 31, 2018.

“Our second quarter was highlighted by a number of new AI wins, several installations of supercomputers and storage systems around the world, and expanded storage and AI offerings,” said Peter Ungaro, president and CEO of Cray. “We continue to see signs of improvement in our target market and, although it is still early to predict the extent of the rebound, I remain confident that our market is returning to growth. While we have work left to do, we remain focused on executing on our outlook for the remainder of 2018 and setting the company up for strong long-term growth.”

Outlook
For 2018, while a wide range of results remains possible, Cray expects revenue to be in the range of $450 million. For the third quarter of 2018, revenue is expected to be about $90 million. For 2018, GAAP and non-GAAP gross margins are expected to be in the low-30% range. Non-GAAP operating expenses for 2018 are expected to be in the range of $190 million. For 2018, non-GAAP adjustments are expected to total about $14 million, driven primarily by share-based compensation. For the year, GAAP operating

1

The following information was filed by Cray Inc (CRAY) on Tuesday, July 31, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Cray Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Cray Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account