|[July 29, 2004]
Cray Inc. Announces $3.5 Million Order for Red Storm Product
SEATTLE --(Business Wire)-- July 29, 2004 -- Global supercomputer leader Cray Inc. (Nasdaq:CRAY) today announced that it has received another advance order for the company's upcoming product based on the Sandia "Red Storm" supercomputer. The order is valued at approximately $3.5 million. No further details were disclosed.
"Red Storm" is a 40-TeraOps (40 trillion calculations per second) supercomputer Cray is scheduled to deliver this year to Sandia National Laboratories under a $93 million Department of Energy contract.
Cray announced plans to develop the Red Storm-based product in October 2003. Earlier this year, Cray announced advance orders for the product from the Pittsburgh Supercomputer Center, Oak Ridge National Laboratory and an unnamed Canadian customer.
"The Red Storm-based product targets the need for highly scalable microprocessor-based supercomputers with extremely high bandwidth. It is designed to be more efficient and cost-effective for challenging problems and workloads than the clustered SMP systems available in the marketplace today," according to Peter Ungaro, Cray's vice president of worldwide marketing and sales. "Red Storm takes the highly successful MPP systems of the past and updates it with the latest in advanced technology; customers are showing a lot of excitement about Cray bringing this architecture back to the forefront of supercomputing."
About Cray Inc.
Cray's mission is to be the premier provider of high performance computing for its customers' most challenging scientific and engineering problems. Go to www.cray.com for more information about the company.
Safe Harbor Statement
This press release contains forward-looking statements. There are certain factors that could cause Cray's execution plans to differ materially from those anticipated by the statements above. These include the technical challenges of developing high performance computing systems, reliance on third-party suppliers, the successful porting of application programs to Cray systems, Cray's ability to compete with larger, more established companies and innovative competitors, Cray's ability to keep up with rapid technological change, and general economic and market conditions. For a discussion of these and other risks, see "Factors That Could Affect Future Results" in Cray's most recent Quarterly Report on Form 10-Q filed with the SEC.
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