Marion, you turd, you should have taken my advice on MTIC. I knew something was amiss; they preannounced.
MTI Technology issues Q1 earnings warning
ANAHEIM, Calif., June 9 (Reuters) - MTI Technology Corp warned investors on
Tuesday that weakness in its European operations will cause diluted earnings
per share for its first quarter will be in a range of $0.16 to $0.18 a share,
below analyst estimates.
The company said in a statement that for the three month period ending July 4,
MTI's revenues are expected to be between $53.5 million and $56 million.
The results are not expected to be announced until the third week of July.
''As communicated during our fourth quarter, fiscal 1998 earnings conference
call in May, our European operations had shown some top line weakness during
the fourth quarter, and this weakness has continued into the first quarter,''
said Earl Pearlman, president and chief executive officer of the data storage
software company.
Additionally, Pearlman said that ''the delay in our ability to announce and
ship our flagship fibre channel product, the Gladiator 3600, has negatively
impacted sales in certain of our domestic markets.''
In order to mitigate the effects of this delay, MTI said its research and
development staff accelerated the release of its fibre channel-based Gladiator
6300 product this quarter.
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