Cray reports Q1 results; posts loss

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Cray reported Q1 results on 3 May for

…the first quarter ended March 31, 2007. Total revenue for the quarter was $47.1 million compared to $48.5 million in the prior year period. Net loss for the quarter improved to ($0.8 million) or ($0.03) per share compared to a net loss of ($5.3 million) or ($0.24) per share in the first quarter of 2006.

Margins were better overall, and operating expenses slightly better (discounting the one time $700k charge the company took in Q1 last year). Full summary here.