- Cray (CRAY +16.3%) now expects 2013 revenue of $520M, above prior guidance of $500M and a $500.5M consensus.
- Revenue was roughly flat Y/Y. Gross margin fell 900 bps Y/Y to 32% thanks to a product margin of 24% (-1800 bps), The supercomputer maker blames this on "higher than anticipated costs on a single, large installation." If not for this issue, GM would've come in at 38%. Services GM was 54%, up from 35% a year ago.
- Opex +66% Y/Y to $36.6M. But it would've fallen slightly if not for a $15M R&D credit recorded last year.
- Cray mentioned on its CC its YarcData big data/analytics appliance unit saw major orders from government and financial services clients.
- SA contributor Vince Martin talked up Cray's prospects in June.
- Q2 results, PR, CC transcript
Check out Seeking Alpha’s new Earnings Center »
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs