The Seattle, Washington-based company reported net income of $1.3m on revenue of $39.2m for the fourth quarter, compared to a net loss of $17.3m on revenue of $26.1m in the same quarter last year. For the full year, the company recorded net income of $5.4m on revenue of $155.1m, compared to a net loss of $35.2m on revenue of $133.6m in 2001.
The company’s revenue was boosted by some substantial deals in the fourth quarter, including a $90m contract with Sandia National Labs for the Red Storm, a $16.4m order from the Arctic Region Supercomputing Center, and an $8.4m order with Spain’s National Institute of Meteorology.
After four consecutive quarters of profitability, the company is also feeling confident about its future performance. Following the formal launch of its Cray X1 supercomputer and a recent $15m contract with the Army High Performance Computing Research Center, the company has reiterated its guidance of revenue of at least $200m for full-year 2003, with pre-tax net operating income between 5% and 10% of revenue.
Source: Computerwire
