What is a 2-way or 4-way server? Does it mean the number of processors?

I can not seem to find any information regarding what a 2-way, 3-way, or 4-way server actually is. I am purchasing a few servers, and looking at the specifications, they list Intel's Dual-Core products, and talk about specifics such as 2-way. This one should be easy for a lot of you experts!
rickgiguereAsked:
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austinstaceCommented:
http://www.webopedia.com/TERM/4/4_way_server.html

webopedia's short description of a 4 way server
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austinstaceCommented:
It refers to the number of processors that are supported.
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rickgiguereAuthor Commented:
Excellent! We used to refer to this as SMP or multiprocessor system a few years ago.
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