Cray Inc. announced selected preliminary 2014 financial results. The 2014 anticipated results presented in this release are based on preliminary financial data and are subject to change until the year-end financial reporting process is complete. Based on preliminary results, total revenue for 2014 is expected to be about $560 million. Based on these results, the company expects to be solidly profitable on both a GAAP and non-GAAP basis for 2014.

For 2015, while a wide range of results remains possible, based on current expectations for 2014, The company anticipates revenue for the year to be in the range of $715 million. Revenue is expected to ramp quarterly during 2015, with about $80 million in the first quarter and roughly 40-45% of the total year in the fourth quarter. Non-GAAP gross margin for 2015 is expected to be about 35%. Total non-GAAP operating expenses for the year are anticipated to be about $195 million. Based on this outlook, The company expects to improve GAAP and non-GAAP operating profit margin significantly for 2015. The company's 2015 effective non-GAAP tax rate is expected to be about 10%.