Cray cites supplier challenges, but expects profits in 2011

Citing key supplier parts challenges, supercomputer maker Cray Inc. said that revenues fells during the third quarter to $36.7 million. The Seattle company trimmed its net loss to $12.2 million, or 35 cents per share.

Revenue for the first nine months of the year was $144 million, up from $100 million for the same period last year. And the company, which finished the quarter with $92 million in cash, is bullish about its prospects going forward.

“We continue to make good progress on our roadmap and are well positioned as we head into the fourth quarter,” said Peter Ungaro, president and CEO of Cray. “Our high-end supercomputer business is strong and growing. We just launched the XK6 supercomputer, which was instrumental in our huge win at Oak Ridge National Laboratory.”

That’s a reference to a $97 million contract that the company won last month, an upgraded supercomputer that will be used for complex environmental and energy calculations. Looking ahead, Cray said it expects to be profitable for the year with revenue in the range of $290 million to $320 million.