Not necessarily. Sometimes it's just really hard to cut the numbers down, and there's negotiations that have to happen over who gets what student which may have not been completed yet or interviews may have changed things up (more true in direct mentorship programs). When I applied the first time, I got an offer from the university I go now a few days after the interviews themselves. However, my friend waited like three weeks before getting an offer (different university), and he was a top pick. (I guess they could have been lying to him, but I'm not sure why they would.) Money being the issue that it is and administration being the way it can be, there are a lot of reasons there might be a delay.
The waiting really sucks though.