Cray Inc. Enjoys Huge Gains in 2014

Cray Inc

Cray Inc., an American supercomputer and big data storage manufacturer, enjoyed double-digit gains in stock shares for most of the calendar year 2014. In 2013, Cray Inc. reported an annual revenue of USD$520 million, and exceeded its estimated revenue for 2014. In the 4th quarter of 2014 particularly, an acceptance process was installed and completed on more supercomputers than in any other quarter so far in history, subsequently breaking both quarterly and annual revenue records. Because of this, for the full year of 2014, Cray Inc. generated over USD$600 million in revenue.

Cray Inc.’s revenue growth has significantly exceeded the industry average of 2.8%. On average, the company is enjoying a gross profit margin of 43.88% and also has a debt-to-equity ratio of zero, considered very favorable. However, it can be noted that return on equity has decreased and net operating cash flow has also decreased when compared to previous years.

Since its inception as Cray Research Inc. in 1972 by computer designer Seymour Cray, the company, now Cray Inc., generates in excess of USD$420 million in annual revenue on average. In past years, the growth has been significantly higher. The company, at 900+ employees currently, is still considered a mid-cap company that is publicly traded on the NASDAQ. The company, which went bankrupt in 1995 and was later acquired by SGI the following year, reached its final state when Tera Computer Company bought out Cray Research Inc. from SGI in 2000 and adopted its name.

The company has focused on silicon graphics in the 1990s-2000s, several entry-level supercomputers in the early 2000s, and hybrid supercomputers in more recent years. The company made its initial breakthrough into the computer market in the 1970s with several revolutionary ideas, starting with the introduction of the first Cray-1 system, which was installed at Los Alamos National Laboratory and cost USD$8.8 million. The computer operated at 160 million floating-point operations per second (8 megaflops), which at the time was a world-record speed. In the decades to come, Cray Inc. would continue to innovate the industry.

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