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CRAY COMPUTER CORP. REPORTS THIRD QUARTER FINANCIAL RESULTS

 COLORADO SPRINGS, Colo., Oct. 15 /PRNewswire/ -- Cray Computer Corp. (NASDAQ: CRAY) reported a net loss for the third quarter of 1993 of $11,665,000 or $.31 per share compared with a net loss of $12,020,000 or $.49 per share for the third quarter of 1992.
 The net loss for the nine months ended Sept. 30, 1993 was $35,042,000 or $1.17 per share and this compares with a net loss of $37,903,000 or $1.56 per share for the nine months ended Sept. 30, 1992.
 William G. Skoulout, chief financial officer stated that "The loss for the third 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 "We are very encouraged by the performance of the CRAY-3 being demonstrated at the National Center for Atmospheric Research in Boulder, Colo. It is clearly a competitive contender in the high-performance supercomputer market."
 The following table provides a comparison of operating results of the third quarter ended Sept. 30, 1993, with those of the third quarter ended Sept. 30, 1992, and a comparison of operating results of the nine months ended Sept. 30, 1993, with the nine months ended Sept. 30, 1992.
 CRAY COMPUTER CORP.
 Summary Operating Results
 (Unaudited)
 (In thousands, except per share data)
 Three Months Ended Nine Months Ended
 Sept. 30, Sept. 30,
 1993 1992 1993 1992
 Revenue, net $97 83 $256 250
 Net loss ($11,665) (12,020) ($35,042) (37,903)
 Net loss
 per share ($.31) (.49) ($1.17) (1.56)
 Weighted average
 number of shares
 outstanding 37,676 24,389 29,978 24,286
 The following table summarizes the balance sheets as of Sept. 30, 1993 and Dec. 31, 1992.
 Summary Balance Sheets
 (In thousands)
 Sept. 30, Dec. 31,
 1993 1992
 (Unaudited)
 Assets:
 Cash and short-
 term investments $28,882 $27,584
 Other current assets 3,871 5,109
 Property, plant and
 equipment, net 26,208 33,256
 Other assets 92 764
 Total $59,053 $66,713
 Liabilities and
 Stockholders' Equity:
 Current liabilities $3,329 $4,437
 Long-term liabilities 250 ---
 Stockholders' equity 55,474 62,276
 Total $59,053 $66,713
 Cray Computer Corp. is engaged in the design, development, manufacture and marketing of the CRAY-3 and CRAY-4 supercomputer systems.
 -0- 10/15/93
 /CONTACT: Terry Willkom, president, or William Skolout, CFO, Cray Computer, 719-579-6464; or David Gould or Bruce LeBoss, Hill and Knowlton, 408-496-6511/
 (CRAY)


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

EH-MF -- LA032 -- 2964 10/15/93 17:46 EDT
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Publication:PR Newswire
Date:Oct 15, 1993
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