FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Aug. 13, 1998--Encore
Computer Corp. (OTC BB:ENCC.O) Thursday reported a profit in the second
quarter, which ended June 28, 1998, of $23,744,000, or $.35 per share,
on revenues of $4,881,000 compared to revenues of $7,354,000 and a net
loss of $19,804,000, or ($.72 per share), for the prior year's fiscal
quarter ended June 29, 1997.
The profit included $25,308,000 ($.38 per share) additional gain
in the sale of Encore's storage products business to Sun Microsystems.
The company will hold a special meeting on Friday, Sept. 11 to
vote on the proposed sale of substantially all of the assets
associated with Encore's real-time business to Gores Technology Group.
Pursuant to a purchase agreement signed on June 1, 1998, Gores will
acquire all of Encore's assets, other than cash, and assume all of the
liabilities of the real-time business. The purchase price is $3
million in cash. If the shareholders approve the sale, then they will
also be asked to approve a proposed Plan of Liquidation and
Dissolution, pursuant to which Encore would be dissolved and
liquidated after Nov. 24, 1998.
Encore Computer Corp., a worldwide company headquartered in Fort
Lauderdale is the world's leading innovator in scalable real-time data
systems and advanced clustering technologies. For more information on
Encore, access the World Wide Web at encore.com.
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CONTACT: Encore Computer Corp., Fort Lauderdale
Charles S. Anderson, 954/316-4401 |
