Cray posts loss for second quarterSeattle 02 August 2001 Cray reported financial results for the second quarter ended June 30, 2001. Cray revenues were $29.4 million, compared with revenues of $51.0 million for the second quarter of 2000.
Excluding amortization of goodwill and intangible assets related to the
acquisition of the Cray Research business operations, the company reported a
pro-forma net loss for second quarter 2001 of $8.1 million. The company's loss before interest, taxes, depreciation and amortization,
or EBITDA, for the second quarter 2001 was $4.4 million.
For the six-month period ended June 30, 2001, the company reported revenues of
$78.2 million, compared with revenues of $51.0 million for the prior-year
period. Excluding non-cash interest charges and amortization of goodwill and
intangible assets related to the acquisition of the Cray Research business
operations, the company reported a pro-forma net loss of $2.5 million, compared to a pro-forma net loss of $2.9 million in the year-ago period.
Accounts receivable was $30.4 million at June 30, 2001. Approximately 28%, or
$8.5 million, of these receivables are non-revenue billings (pass-through
billings). Day's sales outstanding for the current quarter calculated as gross
accounts receivables less pass-through is 66 days and consistent with historical
levels.
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