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CRAY COMPUTER CORP. REPORTS SECOND QUARTER FINANCIAL RESULTS

 COLORADO SPRINGS, Colo., July 22 /PRNewswire/ -- Cray Computer Corp. (NASDAQ: CRAY) reported a net loss for the second quarter of 1993 of $11,864,000, or $.43 per share, compared with a net loss of $11,941,000, or $.49 per share, for the second quarter of 1992.
 The net loss for the six months ended June 30, 1993, was $23,377,000, or $.90 per share, and this compares with a net loss of $25,883,000 or $1.07 per share for the six months ended June 30, 1992.
 William G. Skolout, chief financial officer, stated that, "The loss for the second quarter of 1993 was expected by management as the company continued the development and manufacture of CRAY-3 supercomputer systems and increased its sales and marketing activities." He also stated that "the company's cash position of approximately $37 million at June 30, 1993, had increased due to the private equity financing completed in June 1993."
 The following table provides a comparison of operating results of the second quarter ended June 30, 1993, with those of the second quarter ended June 30, 1992, and a comparison of operating results of the six months ended June 30, 1993, with the six months ended June 30, 1992.
 CRAY COMPUTER CORP.
 Summary Operating Results
 (Unaudited)
 (In thousands, except per share data)
 Three months Six months
 ended June 30, ended June 30,
 1993 1992 1993 1992
 Revenue, net $76 84 $159 167
 Net loss ($11,864) (11,941) ($23,377) (25,883)
 Net loss
 per share ($.43) (.49) ($.90) (1.07)
 Weighted average
 number of shares
 outstanding 27,533 24,302 26,065 24,233
 The following table summarizes the balance sheets as of June 30, 1993, and Dec. 31, 1992:
 CRAY COMPUTER CORP.
 Summary Balance Sheets
 (In thousands)
 June 30, Dec. 31,
 1993 1992
 (Unaudited)
 Assets
 Cash and short-term
 investments $37,205 $27,584
 Other current assets 4,991 5,109
 Property, plant and
 equipment, net 28,339 33,256
 Other assets 132 764
 Total $70,667 $66,713
 Liabilities and
 Stockholders' Equity
 Current liabilities $3,367 $4,437
 Long-term liabilities 250 ---
 Stockholders' equity 67,050 62,276
 Total $70,667 $66,713
 Cray Computer Corp. is engaged in the design, development, manufacture and marketing of the CRAY-3 and CRAY-4 supercomputer systems.
 -0- 7/22/93
 /CONTACT: Terry Willkom, president, or William Skolout, CFO, of Cray Computer, 719-579-6464; or David Gould or Bruce LeBoss of Hill and Knowlton, 408-496-6511, for Cray Computer/
 (CRAY)


CO: Cray Computer Corp. ST: Colorado IN: CPR SU: ERN

JL-LM -- LA040 -- 4889 07/22/93 19:59 EDT
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Date:Jul 22, 1993
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