Cray Expects To Be Profitable In 2016 But Refrains From Providing 2017 Outlook

Cray Inc. on Monday said it expects to be profitable in 2016 on both adjusted and GAAP basis but did not provide an earnings outlook for 2017 due to a "lack of visibility for the year." However, it projected 2016 revenue of $630 million, which fell short of $633.3 million projected by analysts in a FactSet survey. Wall Street also forecast the supercomputer company to post adjusted earnings of 18 cents a share in 2016. Cray shares slumped 5% after hours.

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