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Cray Q1 loss narrows YOY

Cray Inc. said its first-quarter normalized net income came to a loss of 14 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 25 cents per share.

The per-share loss decreased 43.3% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $5.7 million, compared with a loss of $9.8 million in the year-earlier period.

The normalized profit margin climbed to negative 5.4% from negative 12.3% in the year-earlier period.

Total revenue climbed 32.5% year over year to $105.5 million from $79.6 million, and total operating expenses grew 18.9% year over year to $114.8 million from $96.5 million.

Reported net income came to a loss of $5.2 million, or a loss of 13 cents per share, compared to a loss of $9.4 million, or a loss of 24 cents per share, in the prior-year period.