CNT makes a move....
CNT Announces Decision to Classify Its Enterprise Integration Solutions Division as a Discontinued Operation
MINNEAPOLIS, Sept. 19 /PRNewswire/ -- CNT® (Nasdaq: CMNT - news) announced today that its board of directors has determined to sell or spin-off the Company's Enterprise Integration Solutions Division in order to focus all of the Company's resources on its SAN and storage networking products. The board has set January 31, 2001 as a target date for completing any sale or a decision to proceed with a spin-off. Accordingly, the financial information for this division will be accounted for as a discontinued operation.
After accounting for the Enterprise Integration Solutions Division as a discontinued operation, the Company reported diluted income per share from continuing operations of $.23 per share for the six months ended July 31, 2000, and reported an $.08 per share loss from the discontinued operations of the division, compared to a previously reported net income of $.15 per share. Further information is available in our Form 10-Q for the six month period ended July 31, 2000, which has been filed with the Securities and Exchange Commission.
About CNT
CNT is a global specialist in storage networking solutions. CNT's expertise lies in our ability to connect to different servers, systems, and platforms -- across any distance -- with high availability, scalability, and reliability. For more information, visit CNT's web site at cnt.com , or call 763-268-6000. |
