Global supercomputer leader Cray Inc. (NASDAQ:CRAY) announced financial results for the third quarter ended September 30, 2010.
For the quarter, the supercomputer maker posted revenue of $42.8 million and a loss of 55 cents a share, down from the $58.6 million in revenue and a loss of 6 cents posted a year ago, and below the Street consensus at $44.3 million and a loss of 41 cents. Gross margin fell to 25%, from 39% a year ago.
The Cray Inc. (CRAY) continues to see 2010 revenue of $302 million to $325 million. Cray expects 2011 revenues to top those in 2010. It sees a profit for both this year and next year.
For the third quarter, the company posted a net loss of $18.8 million or 55 cents a share compared with a net loss of $2.1 million or 6 cents a share in the year-ago period.
Total revenue fell 27 percent to $42.8 million, while total gross profit margin was 25 percent, compared with 39 percent year ago.
Shares of Cray (CRAY), which have fallen 5 percent since its last quarterly report in August, closed at $6.15 Monday on Nasdaq.
Total gross profit margin for the third quarter was 25 percent, compared to 39 percent in the third quarter of 2009.
Social Media's #1 Financial Newsletter Reaching Over 105,000 Readers!
Join Our FREE Newsletter! http://stocktwiter.com/
Join us on Twitter!
Disclosure: "No Positions"