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April 27, 1994

CRAY RESEARCH WARN OF FALLING ORDERS

By CBR Staff Writer

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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