Cray Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, total revenue was $79,594,000 against $59,031,000 a year ago. Loss from operations was $24,860,000 against $32,281,000 a year ago. Loss before income taxes was $24,529,000 against $30,361,000 a year ago. Net loss was $25,008,000 against $19,215,000 a year ago. Basic net loss per basic and diluted common share was $0.62 against $0.48 a year ago. Non-GAAP net loss was $21.4 million against $28.4 million a year ago. Non-GAAP diluted net loss per common share was $0.53 against $0.71 a year ago. Non-GAAP operating loss was $21.2 million against $29.4 million a year ago.

For 2018, while a wide range of results remains possible, Cray continues to expect revenue to grow in the range of 10%-15% over 2017. GAAP gross profit is expected to be about $2 million lower than non-GAAP gross profit. Based on this outlook, Cray's effective GAAP and non-GAAP tax rates for 2018 are both expected to be in the low-single digit range, on a percentage basis.

Revenue is expected to be about $110 million for the second quarter of 2018.