Cray +9.7% AH on Q4 beat, healthy 2014 outlook

|About: Cray Inc (CRAY)|By:, SA News Editor

In addition to beating estimates for a quarter responsible for well over half its 2013 revenue, CRAY is guiding for 2014 revenue of $600M, +14% Y/Y and above a $596.3M consensus. Full-year gross margin is expected to be in the mid-30s after coming in at 35% in 2013.

Opex rose 35% Y/Y in both Q4 and the whole of 2013. Cray attributes the full-year growth to investments in its storage and analytics hardware platforms, the loss of R&D credits, and the Appro International acquisition. Cash/investments totaled $220.4M at year's end.

Shares have made new 52-week highs in AH trading. It wasn't long ago that they were pressured by federal shutdown-related worries.

Q4 results, PR