Cray, Inc. (CRAY) Announces Financial Results
Cray Inc. yesterday announced its financial results for the full-year and fourth quarter ended December 31, 2008. The company announced that the total revenue generated was $282.9 million for the year. The company would have had a profitable year if it were not for a $54.5 million non-cash goodwill impairment taken in the fourth quarter. According to the company, this goodwill impairment will have no effect on its cash balances or cash flow from operating activities. Overall gross profit margin improved to 39.3 percent in 2008, a respectable increase over the 35.1 percent reported for 2007. Product margin for 2008…