Cray Inc. Announces $16.0 Million in Orders for Cray X1 Systems.Business Editors/High-Tech Writers SEATTLE--(BUSINESS WIRE)--May 12, 2003 Global supercomputer supercomputer, a state-of-the-art, extremely powerful computer capable of manipulating massive amounts of data in a relatively short time. Supercomputers are very expensive and are employed for specialized scientific and engineering applications that must handle very leader Cray Inc. (Nasdaq:CRAY) today reported that it has received orders valued at approximately $16.0 million for Cray X1(TM) equipment and related technology and services from undisclosed customers. Shipments are scheduled to begin in mid-2003 and continue through mid-2004. No other contract details were disclosed. About Cray Inc. Cray's mission is to be the premier provider of supercomputing solutions for customers' most challenging technical problems. Go to www.cray.com for more information about the company. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . There are certain factors that could cause Cray's execution plans to differ materially from those anticipated by the statements above. Among these factors are the technical challenges of producing the Cray X1 system on a sustainable basis, successful porting of application programs to the Cray X1 system, the ability of Cray supercomputer systems Three firms have held, simultaneously, the name Supercomputer Systems or Supercomputing Systems. The first was founded by Steve Chen, architect of the Cray X-MP and Cray Y-MP. The second was based in San Diego, California, USA. to pass individual customer acceptance tests, timely availability of commercially acceptable components from third-party suppliers, risks inherent in government procurements Government procurement, also called public tendering, is the procurement of goods and services on behalf of a public authority, such as a government agency. With 10 to 15% of GDP in developed countries, and up to 20% in developing countries, government procurement accounts and general economic and market conditions. For a discussion of these and other risks, see "Risk Factors" in Cray's most recent Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the SEC on March 28, 2003. Cray is a registered trademark, and Cray X1 is a trademark, of Cray Inc. All other trademarks are the property of their respective owners. |
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