Shares of Seattle supercomputer maker Cray Inc. fell Friday morning after it announced preliminary results for 2012, noting that it expects revenue of $420 million on the year. Analysts had expected revenue of $446 million for the fiscal year.
The company, which recently closed the acquisition of Appro, said that its gross margins for the year were slightly higher at 36 percent. Cray also said that it plans to be “solidly profitable” in 2012, and finished the year with cash and investments of $320 million.
“We had a record year in 2012 in revenue and operating income – even after excluding the gain from the Intel transaction,” said Peter Ungaro, president and CEO of Cray, in a statement. “The year was highlighted by the installations of both the largest system in our company’s history and our largest commercial win ever, and by the building momentum in our storage and Big Data initiatives.”
Cray said it expects revenue of $500 million in 2013, once again expecting to turn a profit.
As we noted earlier this week, Cray was the top performing stock of 2012, with shares surging 146 percent.