Printer Friendly

CRAY COMPUTER REPORTS YEAR END RESULTS

 CRAY COMPUTER REPORTS YEAR END RESULTS
 COLORADO SPRINGS, Colo., Jan. 22 /PRNewswire/ -- Cray Computer


Corp. (NASDAQ: CRAY) reported a net loss of $52,214,000, or $2.50 per share for the year ended Dec. 31, 1991. This compares with a net loss of $46,449,000, or $2.61 per share for the year ended Dec. 31, 1990.
 Net loss for the fourth quarter of 1991 was $14,621,000 or 61 cents per share compared with a net loss of $8,113,000 or 44 cents per share for the fourth quarter of 1990.
 Cray Computer is engaged in the design and development of the CRAY-3 computer system.
 CRAY COMPUTER CORP.
 (A Development Stage Enterprise)
 Statements of Operations
 (In thousands, except per share data)
 Three Months Ended Twelve Months Ended
 Dec. 31, Dec. 31,
 1991 1990 1991 1990
 Revenue
 Sales --- $12,760 --- $12,760
 Service fees 84 84 333 243
 84 12,844 333 13,003
 Operating costs and
 expenses:
 Cost of sales --- 7,686 --- 7,686
 Cost of services 40 62 160 120
 Research &
 development 15,074 11,621 52,770 47,542
 Marketing 138 167 482 435
 General and
 administrative 581 564 2,411 2,951
 15,833 20,100 55,823 58,734
 Operating loss (15,749) (7,256) (55,490) (45,731)
 Other income
 (deductions), net 1,128 (857) 3,276 (718)
 Net loss $(14,621) $(8,113) $(52,214) $(46,449)
 Net loss per share $(.61) $(.44) $(2.50) $(2.61)
 Average number of
 common shares
 outstanding 24,033 18,169 20,873 17,788
 The company is a defendant in two lawsuits alleging certain claims relating to the appropriateness of disclosures by the company. The company believes that the lawsuits are without merit and intends to defend them vigorously. However, the ultimate outcome of the litigation cannot presently be determined. Accordingly, no provision for any liability that may result upon adjudication has been recognized.
 -0- 1/22/92
 /CONTACT: Neil Davenport or Greg Barnum of Cray Computer, 719-579-6464/
 (CRAY) CO: Cray Computer Corp. ST: Colorado IN: CPR SU: ERN


BB -- DV005 -- 2448 01/22/92 16:02 EST
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 22, 1992
Words:356
Previous Article:KARNER BLUE BUTTERFLY PROPOSED AS ENDANGERED SPECIES
Next Article:TESTIMONY BY YUGOSLAVIA'S DEPUTY FOREIGN MINISTER MILIVOJ MAKSIC BEFORE THE FEDERAL PARLIAMENT'S FOREIGN POLICY COMMITTEE
Topics:


Related Articles
CRAY COMPUTER REPORTS SECOND QUARTER RESULTS
CRAY COMPUTER REPORTS SECOND QUARTER RESULTS
CRAY COMPUTER REPORTS THIRD QUARTER RESULTS
CRAY COMPUTER CORP. REPORTS 1992 FINANCIAL RESULTS
CRAY COMPUTER REPORTS FIRST QUARTER 1993 FINANCIAL RESULTS
CRAY COMPUTER CORP. REPORTS SECOND QUARTER FINANCIAL RESULTS
/REPEATING FOR POINTS/
CRAY COMPUTER CORP. REPORTS THIRD QUARTER FINANCIAL RESULTS
CRAY COMPUTER CORP. REPORTS FIRST QUARTER 1994 FINANCIAL RESULTS
CRAY RESEARCH INDICATES IT WILL TAKE ONE-TIME CHARGES EXCEEDING $100 MILLION IN SECOND QUARTER

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters