View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
October 25, 1988


By CBR Staff Writer

Cray Research Inc has hit problems – thought to be associated with the Gallium Arsenide chips – on the upcoming Cray-3, and as a result has reported a 37% fall in third quarter profits to $22.6m, 73 cents a share on sales down 21% at $145.2m. The company says the Cray-3 snag is likely to cost it an extra $10m this year, and that profits will therefore be up only 5% to 7% compared with 1987, against analysts’ forecasts of 10%. It now expects to lease more machines and sell fewer in 1989, and as a result, it is likely to grow turnover only 10% and is budgeting accordingly. Some observers fear that the problem on the Cray-3, which is due out late in 1989, may also delay the launch.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.