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CRAY CUSTOMER ACCEPTANCE SLIPS RESULTING IN 1992 YEAR END LOSS

 EAGAN, Minn., Jan. 7 /PRNewswire/ -- Cray Research, Inc. (NYSE: CYR) announced today that it would report a loss for the year ended December 31, 1992, because the acceptance of one of its large systems has been delayed from late December, 1992 to January, 1993. The CRAY Y-MP C90 order, valued at about $32 million, completed its acceptance period Jan. 2, 1993.
 The company's policy is to recognize revenue upon the acceptance of its systems and that results in its reporting an overall loss for 1992. Earlier expectations were to report marginal profits with this C90 acceptance included after taking a fourth quarter restructuring charge of about $40 million.
 The company and its customer had to determine how to allocate certain blocks of time against its contract acceptance period and the final allocation, just completed, results in the system acceptance in calendar year 1993.
 In commenting on the development, a company spokesman noted that the system's revenue will be counted in its first quarter 1993 results.
 Cray Research creates the most powerful, highest-quality computational tools for solving the world's most challenging scientific and industrial problems.
 -0- 1/7/93
 /CONTACT: (Media) Frank Parisi, 612-683-7130; or (Financial) Bill Gacki, 612-683-7372, both of Cray Research/
 (CYR)


CO: Cray Research, Inc. ST: Minnesota IN: CPR SU:

KH -- MN003 -- 2502 01/07/93 08:59 EST
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Publication:PR Newswire
Date:Jan 7, 1993
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