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Technology Stocks : Crossroads - CRDS -- Ignore unavailable to you. Want to Upgrade?

To: D. K. G. who wrote (48)	10/26/1999 1:07:00 PM
From: Wei Yu	Read Replies (1) \| Respond to of 164

Dennis, the reply in the interview pretty well summarizes the direction of SCSI and FC. One note-worthy fact is that the first to go is the drives' interface, which probably has little impact on Crossroads. Interfacing to drives is not or a very tiny part of their business as they are into serverless backup.

To: D. K. G. who wrote (48)	10/27/1999 12:34:00 PM
From: William F. Wager, Jr.	Read Replies (1) \| Respond to of 164

JNI Corp. Opens At 43, Above $19 Offering Price By Raymond Hennessey NEW YORK (Dow Jones)--Riding the continued popularity of technology that handles the data glut caused by the growth of the Internet, JNI Corp. (JNIC) opened at more than double its offering price in initial trading Wednesday. Shares of the San Diego company debuted at 43 after pricing late Tuesday at $19 each, well ahead of price estimates of $15 to $17 a share. The range had initially been between $12 and $14. In heavy aftermarket trading, the shares recently stood at 42, giving JNI, with its 21.8 million shares outstanding, a market value of about $915.6 million. Donaldson Lufkin & Jenrette Securities Corp. led the offering of 4.9 million shares. JNI comes to market at a time when investors have been increasingly high on data-storage companies. JNI makes fibre-channel hardware and software that connect servers with data storage systems. Fibre-channel is a relatively new approach to data storage. Most systems use a different interface known as small computer system interface, or SCSI. Last week, another data storage-related company, Crossroads Systems Inc. (CRDS), had what was then the fifth-best debut in IPO history, closing at 78 23/32, well above its $18 offering price. Unlike many new companies, JNI is profitable. For the first nine months of this year, the company had $25.8 million in revenue and net income of $2.2 million. In the same period a year ago, it lost $169,000 on revenue of $6.9 million. JNI is being spun out of closely-held Jaymark Inc., which also owns defense contractor Jaycor. Following the offering, Jaymark will own 14.9 million shares of JNI, or a 71.2% stake. Jaymark sold 2.1 million of the 4.9 million shares offered in the IPO. Adaptec Inc. (ADPT), which provides bandwidth measurement technology, owns 2 million shares, or 9.1%, of JNI.