Despite apparently positive figures (above), Cray Research Inc warned that the net contract value of orders signed during the 1994 first quarter was $59m compared with $124m in the same period a year ago, and backlog at March 31 fell to $271m from $381m at the same time last year; first quarter orders were below expectations and disappointing, reflecting a difficult market environment, chairman John Carlson said; he sees an improvement in earnings and revenue during the second quarter of the fiscal year, as orders rise in the second half.
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