Cray Inc. (CRAY) reported first quarter net income of $0.13 per share after the close Thursday, compared to the loss of $0.04 per share last year. The company also stated that it expects to be solidly profitable for 2012.
Cray gapped up sharply Friday and climbed during early trade, before settling into a narrow range. The stock extended its gains in the final 2 hours of the afternoon and finished up by 2.48 at $11.38 on the highest volume of the year. Cray has been rising for the past week and set a new high for the year.
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