November 1, 2000 11:25 AM PST

Supercomputer specialist Cray meets views

Supercomputer maker Cray met analyst expectations Tuesday, reporting a net loss of $3.9 million, or 12 cents per share, on revenue of $33.7 million.

In the same quarter last year, the company had revenue of $850,000 and a net loss of $13.9 million, or 59 cents per share.

SGI sold the supercomputer maker to Tera Computer in a deal announced in March. Cray traditionally sells to specialized customers such as automobile and aircraft designers and the federal government. However, the company faces supercomputer competition in some fields from IBM, Compaq, Hewlett-Packard and Sun Microsystems.

Including interest and amortization expenses, Cray had a loss of $6.1 million, or 12 cents per share for the third quarter, which ended Sept. 30.

In the quarter, Cray won customers at the Arctic Region Supercomputing Center, Ford Motor and the U.S. Navy. In addition, the company sold its first computer to a Japanese customer, the Japan Advanced Institute of Science and Technology.

Several new products are coming from the company, Cray said in a statement. The company will announce improvements to its existing SV1 soon and begin shipping the new version in the second quarter of 2001. A Cray MTA using CMOS chips is scheduled to begin shipping the second half of 2001. And the next-generation SV2 is on schedule.

The company spent $13.3 million, or 39 percent, on research and development for the quarter.

 

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