Cray sees Q2 revenue $70M, consensus $101.6M
For 2019, while a wide range of results remains possible, Cray continues to expect revenue to grow modestly compared to 2018. Revenue is expected to be about $70M forQ2. For the year, GAAP and non-GAAP gross margins are expected to be in the 30% range. Operating expenses will increase in 2019, primarily driven by investments made toward the exascale award. For 2019, non-GAAP operating expenses are expected be in the range of $215M for the year, and total non-GAAP adjustments are expected to be about $16M, driven primarily by share-based compensation. Based on this outlook, the company continues to expect a substantial GAAP and non-GAAP net loss for 2019. Cray's effective GAAP and non-GAAP tax rates for 2019 are both expected to be in the low single-digit range.