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4-Traders Homepage  >  Equities  >  Nasdaq  >  Cray Inc.    CRAY

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Cray : PGS Expands Industry Leading Supercomputing Platform With Purchase of Second Cray XC Supercomputer

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10/18/2016 | 10:59am CEST

(GlobeNewswire) - At the 2016 Society of Exploration Geophysicists (SEG) International Exposition in Dallas, Texas, global supercomputer leader Cray Inc. (NASDAQ:CRAY) today announced that PGS has significantly enhanced its supercomputing capabilities with the purchase of a new 12-cabinet Cray XC supercomputer. PGS, a worldwide oil-and-gas company and a leader in marine seismology, also added an additional 2.8 petabytes of capacity to its Cray Sonexion storage system.

In March 2015, PGS purchased a 5-petaflops Cray XC supercomputer and a Cray Sonexion storage solution. The Cray systems were instrumental in producing the most detailed images ever of The Gulf of Mexicos subsurface as part of the PGS Triton survey considered the most revolutionary and technologically advanced survey ever conducted in the region. The new system, which has been delivered and is currently in production, is the second Cray supercomputer at PGS and further strengthens one of the most powerful compute platforms in the oil and gas sector.

Named Galois after the French mathematician variste Galois, the new Cray XC supercomputer at PGS will analyze seismic data to produce more accurate images and multi-dimensional models of the Earths subsurface beneath the ocean floor. The new system will allow PGS to run larger jobs with more complex data and algorithms that will produce higher-quality images in less time. With the expanded supercomputing capabilities, PGS can give its customers the ability to better locate oil and gas deposits.

Galois provides forward-thinking computational capabilities for faster delivery of reverse time migration images and full waveform inversion studies, said Guillaume Cambois, executive vice president for imaging and engineering at PGS. PGS has brought unique capabilities to the market using Cray supercomputers, enabling the advanced generation and analysis of high resolution pre-stack images of the subsurface.

Todays most advanced seismic survey datasets encompass many hundreds of terabytes, and gaining insight from this data lies squarely at the convergence of supercomputing and big data, said Barry Bolding, chief strategy officer at Cray. The Cray supercomputers allow PGS to quickly process this data into an accurate, clear image of whats lying underneath the sea floor, through kilometers of varied geology. This is an extraordinarily complex computational challenge, and is where PGS excels. Were thrilled PGS continues to rely on Cray supercomputers to power the next generation of seismic processing and imaging.

For more information on the Cray XC series of supercomputers and Cray Sonexion storage systems, please visit the Cray website at www.cray.com.

About PGSPGS is the leading marine seismic company that acquires high resolution seismic data that is used to generate accurate images and 3D models of the sub-surface. Our library contains seismic and EM data, and our services include data acquisition and processing, imaging, reservoir analysis and interpretation. For more information, visit www.pgs.com.

About Cray Inc.Global supercomputing leader Cray Inc. (Nasdaq:CRAY) provides innovative systems and solutions enabling scientists and engineers in industry, academia and government to meet existing and future simulation and analytics challenges. Leveraging more than 40 years of experience in developing and servicing the worlds most advanced supercomputers, Cray offers a comprehensive portfolio of supercomputers and big data storage and analytics solutions delivering unrivaled performance, efficiency and scalability. Crays Adaptive Supercomputing vision is focused on delivering innovative next-generation products that integrate diverse processing technologies into a unified architecture, allowing customers to meet the markets continued demand for realized performance. Go to www.cray.com for more information.

Cray, the stylized CRAY mark and SONEXION are registered trademarks of Cray Inc. in the United States and other countries, and XC is a trademark of Cray Inc. Other product and service names mentioned herein are the trademarks of their respective owners.

Cray Media:Nick Davis206/701-2123pr@cray.com

Cray Investors:Paul Hiemstra206/701-2044ir@cray.com

(c) 2016 Emirates News Agency (WAM) Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2016 649 M
EBIT 2016 22,4 M
Net income 2016 -
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 1,32x
Capi. / Sales 2017 1,15x
Capitalization 859 M
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 33,3 $
Spread / Average Target 58%
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Peter J. Ungaro President, Chief Executive Officer & Director
Stephen C. Kiely Non-Executive Chairman
Wayne J. Kugel Senior VP-Operations & Customer Support
Brian C. Henry Chief Financial Officer & Executive Vice President
Margaret Ann Williams Senior Vice President-Research & Development
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