timberrrrrrrrrrrr...another high flyer bites the dust...i liked this comapny too, was my last real good score<gg>.
By Laura Elizabeth Pohl
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--JNI Corp. (JNIC) shares were recently down as the
company's 10Q, filed Thursday, dropped two bombshells on the market: Chief
Executive Terry Flanagan wants to resign, and primary customer Sun Microsystems
Inc. (SUNW) is phasing out the SBus interface, which uses JNI adapters.
In the 10Q, JNI said sales of the adapters designed to work with the SBus
interface made up about 78% of net revenue for the nine months ended Sept. 30,
2000, 83% of net revenue in 1999 and 86% of revenue in 1998.
Short interest in JNI rose 29% in the 30 days between Sept. 15 and Oct. 13,
the latest period for which data is available. As of Oct. 31, JNI had
24,428,037 shares outstanding.
Shares of JNI, based in San Diego, Calif., recently changed hands at $98.69,
down 9.1% on volume of 964,300 compared with average daily volume of 864,800.
(MORE) DOW JONES NEWS 11-10-00
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