SEATTLE, May 09, 2005 (BUSINESS WIRE) -- Cray Inc. (Nasdaq:CRAY) today announced that on May 6,
2005, it received a notice from the Listing Qualifications Department
of The Nasdaq Stock Market stating that due to Cray's failure to
include the auditor's opinion on management's assessment of internal
control over financial reporting required pursuant to Section 404 of
the Sarbanes-Oxley Act of 2002 in its Form 10-K/A filed on May 3,
2005, the Company was not in compliance with the requirements of
Marketplace Rule 4310(c)(14).
As a result the character "E" will be appended to the trading
symbol and accordingly the trading symbol for the Company's common
stock will be changed from CRAY to CRAYE at the opening of business on
May 10, 2005.
The Company will request an appeal hearing with the Nasdaq Listing
Qualifications Panel by May 13, 2005, for continued listing on the
Nasdaq National Market. Under Nasdaq Marketplace Rules, Cray common
stock will remain listed on the Nasdaq National market pending the
outcome of the hearing. If the Company were not to file its appeal by
May 13, 2005, then the Company's common stock would be delisted from
The Nasdaq Stock Market at the opening of business on May 17, 2005.
Conference Call Information
Management had previously scheduled a conference call for
investors today, Monday, May 9, at 2:00 p.m. Pacific Time, to discuss
the Company's financial results for the first quarter of 2005.
Management will discuss the notice from The Nasdaq Stock Market in the
To access the call, please dial into the conference at least 10
minutes prior to the beginning of the call at 800-257-3401.
International callers should dial 303-262-2006. To listen to the live
audio webcast, go to in the Investors section of the Cray website at
http://investors.cray.com or to www.streetevents.com.
If you are unable to attend the live conference call, an audio
webcast replay will be available in the Investors section of the Cray
website for 365 days.
If you do not have Internet access, a replay of the call will be
available by dialing 800-405-2236 and entering access code 11028847#.
International callers can listen to the replay by dialing
303-590-3000, access code 11028847#. The conference call replay will
be available for 48 hours, beginning at 5:00 p.m. Pacific Time, May 9,
As the global leader in high performance computing (HPC), Cray
provides innovative supercomputing systems that enable scientists and
engineers in government, industry and academia to meet both existing
and future computational challenges. Building on years of experience
in designing, developing, marketing and servicing the world's most
advanced supercomputers, Cray offers a comprehensive portfolio of HPC
systems that deliver unrivaled sustained performance on a wide range
of applications. Go to www.cray.com for more information.
Cray is a registered trademark of Cray Inc. All other trademarks
are the property of their respective owners.
SOURCE: Cray Inc.
John Snyder, 206-262-0291
Steve Conway, 651-592-7441