Cray, Inc.’s (CRAY) Fourth-Quarter Review

Analysts Glenn Hanus & Patrick O’ Brien at Needham have released a report reviewing the fourth-quarter results at Cray, Inc. (NASDAQ: CRAY). The company reported results for the fourth-quarter yesterday.

Cray reported EPS of $0.12 for the quarter. The company reported revenue of $88.2 million. According to analysts, the highlights in the quarter included acceptance of the company’s XT5 “Jaguar” upgrade at ORNL resulting in the fastest supercomputer in the world, and the exclusive reseller relationship with Dell, Inc. (NASDAQ: DELL) for CX1-iWS system, which is the company’s first custom engineering contract with a large commercial customer.

Analysts at Needham continue to rate Cray, Inc. as a Buy, with a 12-month price target of $8.