Cray Inc. (CRAY) Gets $12 Milestone Payment from DARPA; To Be Credited Against Q210 R&D Expenses
On June 22, 2010, Cray Inc. (Nasdaq: CRAY) was notified by the Defense Advanced Research Projects Agency ("DARPA") that they had completed Milestone 7 under their DARPA Phase III High Productivity Computing Systems program agreement. The milestone was for $12,000,000 and, based on their level of spending for DARPA-related work, they expect that all of the milestone amount will be credited against their research and development expenses in the second quarter of 2010 as part of this co-funding arrangement.
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