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Cray Inc. Announces First Quarter 2002 Financial Results
SEATTLE, WA -- Supercomputer provider Cray Inc. (Nasdaq:CRAY) today announced financial results for the first quarter ended March 31, 2002. The company posted a profit before restructuring charges of $2.6 million on revenue of $35.2 million during the quarter, benefiting primarily from unusually high margins on product sales, reduced R&D spending, other operating expense reductions and the settlement of a previously reserved cancellation charge.