SEC Filings

10-Q
CRAY INC filed this Form 10-Q on 10/30/2018
Entire Document
 


PART I. FINANCIAL INFORMATION
Item 1. Unaudited Condensed Consolidated Financial Statements
CRAY INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited and in thousands, except share data)
 
September 30,
2018
 
December 31,
2017
ASSETS
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
166,848

 
$
137,326

Restricted cash
1,303

 
1,964

Short-term investments

 
6,997

Accounts and other receivables, net
74,961

 
162,034

Inventory
141,561

 
186,307

Prepaid expenses and other current assets
21,231

 
25,015

Total current assets
405,904

 
519,643

 
 
 
 
Long-term restricted cash
16,030

 
1,030

Long-term investment in sales-type lease, net
13,024

 
23,367

Property and equipment, net
36,325

 
36,623

Goodwill
14,182

 
14,182

Intangible assets other than goodwill, net
3,471

 
4,345

Other non-current assets
17,433

 
19,567

TOTAL ASSETS
$
506,369

 
$
618,757

 
 
 
 
LIABILITIES AND SHAREHOLDERS’ EQUITY
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
28,956

 
$
57,207

Accrued payroll and related expenses
17,768

 
18,546

Other accrued liabilities
7,717

 
9,471

Customer contract liabilities
57,290

 
80,119

Total current liabilities
111,731

 
165,343

 
 
 
 
Long-term customer contract liabilities
31,661

 
38,622

Other non-current liabilities
12,725

 
14,495

TOTAL LIABILITIES
156,117

 
218,460

 
 
 
 
Shareholders’ equity:
 
 
 
Preferred stock — Authorized and undesignated, 5,000,000 shares; no shares issued or outstanding

 

Common stock and additional paid-in capital, par value $.01 per share — Authorized, 75,000,000 shares; issued and outstanding 40,825,905 and 40,464,963 shares, respectively
643,059

 
633,408

Accumulated other comprehensive income
707

 
915

Accumulated deficit
(293,514
)
 
(234,026
)
TOTAL SHAREHOLDERS’ EQUITY
350,252

 
400,297

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
$
506,369

 
$
618,757


The accompanying notes are an integral part of these condensed consolidated financial statements

4