JNIC doesn't seem to agree with you:
Friday November 10, 5:20 pm Eastern Time
Press Release
JNI Clarifies Previously Disclosed News About Intended Retirement of Its CEO
Explains Article On SBus Products
JNI to Conduct Conference Call on Monday, Nov. 13 at 8:30 a.m. EST
SAN DIEGO--(BUSINESS WIRE)--Nov. 10, 2000-- JNI® Corporation (Nasdaq:JNIC - news) today reaffirms previously disclosed information that President and CEO Terry M. Flanagan, Ph.D. has informed the company that he would like to retire.
As previously disclosed in public filings and its Third Quarter Conference Call, JNI is actively engaged in a process to find a suitable candidate to replace Dr. Flanagan.
``I am participating in the search process and plan to stay with JNI until a successor is found,'' Flanagan said. ``I have also agreed to provide consulting services to JNI for a period of 12 months following my retirement and intend to remain a member of the Board of Directors.''
In addition, a Dow Jones Newswire article reiterated information included in JNI's public filings about Sun Microsystems intention to phase out the SBus interface from their systems and the potential impact on JNI's business. SBus product sales account for approximately 80% of JNI's current revenue. Sun Microsystems has never officially announced an end-of-life date for SBus in its servers, but in public forums certain executives from Sun have indicated that Sun would eventually move to the PCI bus interface or a successor to the PCI bus. Sun has recently introduced a new set of Enterprise servers that include the SBus interface. JNI is not aware of any plan by Sun to eliminate the SBus other than Sun's past public statements. JNI's SBus sales grew 32% from 2Q00 to 3Q00.
``We believe the news story takes existing information and, unfortunately misstates its impact on JNI,'' said Flanagan.
JNI will hold a conference call on Monday, Nov. 13 at 8:30 a.m. EST to clarify the news story. Information on the phone number will be released in a news advisory. The call can also be accessed via Webcast at www.vcall.com or www.jni.com.
About JNI Corporation
JNI Corporation is the fastest-growing Fibre Channel host bus adapter company and the No. 2 manufacturer of Fibre Channel HBAs (non-captive) in revenue according to IDC (3/00). JNI offers a broad line of HBAs, ASICs and software for storage area networks (SANs). 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 U.S. and Munich (Munchen), Germany. www.jni.com.
JNI -- First in Fibre Channel(TM)
Forward Looking Statements
With the exception of historical information, the statements set forth above include forward-looking statements that involve risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These risks include our limited history of profitability that may be difficult to maintain; delays in product development; our dependence on a small number of OEM and distribution channel customers; our dependence on sole source and limited source suppliers for key components; increasing competition in the Fibre Channel market; our reliance on the principal members of our management team and our need to continue to attract and retain key managerial, technical, and selling and marketing personnel; our exclusive focus on Fibre Channel products; rapid technological change in our industry; changes in the storage area networks market; the long sales cycle for our products; declining average selling prices of our products; excess and obsolete inventory; our reliance on manufacturers in other countries; litigation involving intellectual property and other issues; and other risk factors discussed in the company's Annual Report on Form 10-K, 10-Q and other reports filed with the Securities and Exchange Commission, including the Company's most recent Form S-1 filed on Sept. 26, 2000.
JNI, JNIC FibreStar and First in Fibre Channel are trademarks or registered trademarks of JNI Corporation. All other trademarks are the property of their respective holders |
