Another warning from the storage sector (albeit Sun-centered SAN stuff)...
JNI Corp. Adjusts First Quarter Forecast, Comments On Outlook
Business Wire - March 28, 2001 16:02
SAN DIEGO--(BUSINESS WIRE)--March 28, 2001--JNI(R) Corp. (Nasdaq:JNIC), a leading supplier of Fibre Channel host bus adapters for the enterprise storage market, today announced that it has revised its first quarter forecast based on weakening in the high technology sector, impacting storage networking and infrastructure products, as well as Sun server sales.
Based on a preliminary review of first quarter results, JNI's revenues are expected to increase 9% to 12%, to approximately $20 million to $21 million, compared with revenue of $18.5 million for the first quarter of 2000. The company expects first quarter net income (excluding amortization) to approximate $0.03 to $0.04 per share as compared with $0.08 per share in the year-ago period.
"With the majority of our revenues derived from sales of Sun Solaris-based products, continued weakness in the Sun server marketplace has had an impact on first quarter performance," said Neal Waddington, president and chief executive officer.
"We continue on track toward the launch of our next generation Emerald IV product suite, which is essential in bringing balance to our mix of Solaris and non-Solaris based revenue and reducing our vulnerability to market volatility. Based on our present product platform, distribution and accompanying market conditions, we have adjusted our first quarter forecast, and will provide further guidance for Fiscal 2001 when we report our first quarter results next month," Waddington concluded.
The company plans to report results for the first quarter of 2001 the week of April 23, 2001.
JNI will host a conference call with a simultaneous Webcast today, March 28, 2001, at 5:00 p.m. Eastern/2:00 p.m. Pacific. The conference call, featuring President and Chief Executive Officer Neal Waddington, can be accessed live via the Internet at www.jni.com or www.vcall.com. The call can also be accessed by phone at 703/871-3085. Dial in at least five minutes ahead of the call, or if listening via the Internet, go to either Web site at least 15 minutes early to register, download, and install any necessary audio software. An audio replay will be available one hour following the call through Wednesday, April 4, by calling 888/266-2086 and entering the passcode 5117970. The Webcast will be available for 7 days.
About JNI Corp.
JNI Corp. is one of the leading manufacturers of enterprise-level storage area network (SAN) products and the leading provider of Fibre Channel-based host bus adapters (HBAs) for Solaris servers. JNI offers a broad line of HBAs, ASICs and software for storage area networks. JNI's PCI products operate on Solaris, Windows 2000, Windows NT, HP-UX, AIX, Novell, Linux and Mac OS systems. JNI's SBus products run on Solaris. Customers include Amdahl, Avid, Chaparral, Compaq StorageWorks, Consan, EMC, Eurologic, Hewlett-Packard, Hitachi Data Systems, IBM, LSI Logic, McData, StorageTek and Sun Microsystems. Company headquarters are in San Diego, with offices throughout the United States and Munich (Munchen), Germany. www.jni.com. |
