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Technology Stocks : MTIC - Is this the next EMC? -- Ignore unavailable to you. Want to Upgrade?

To: BostonView who wrote (3578)	12/9/1999 9:04:00 AM
From: BostonView	Respond to of 3748

MTI Technology Announces Retirement of President and CEO Earl Pearlman; Board of Directors Appoints Tom Raimondi New President and CEO ANAHEIM, Calif., Dec. 9 /PRNewswire/ -- MTI Technology Corp. (Nasdaq: MTIC - news) today announced that Earl Pearlman has retired from his position as president and chief executive officer, effective immediately. Ray Noorda, MTI chairman, said, ''Over the past several years Earl has played a major role in the establishment of MTI as a leader in the open systems storage market. Personally, and on behalf of the board of directors and the company, I wish to express our appreciation and to wish Earl success in all his future endeavors.'' The board of directors unanimously agreed to appoint Tom Raimondi as MTI's new president and chief executive officer. Raimondi has served as chief operating officer at MTI since July 1998. ''I have worked with Tom for the past 12 years and I have great respect for his experience and abilities,'' Noorda said. ''The board and I feel confident he will continue to expand MTI's dynamic and aggressive transition into the leading provider of Storage Area Network and Network-Attached Storage storage solutions, particularly for the extremely fast-growing e-commerce and telecommunications industries. We firmly believe that the storage market will continue to experience substantial growth over the foreseeable future and that many new opportunities will arise as a result of this growth. Under this new leadership, the board and I are confident MTI will be well-positioned to take advantage of these opportunities.'' Raimondi joined the firm in 1987. Prior to being named chief operating officer, Raimondi served as senior vice president and general manager. He also has held other senior executive positions as the company's vice president of business development and strategic planning. ''I am very pleased and excited to accept the challenges and opportunities of my new position with MTI, and look forward to leading the company to greater growth and prosperity as we continue to expand our ability to provide our customers with the best possible products and services,'' said Raimondi. MTI's mission is to provide Continuous Access to Online Information(SM) through fault-tolerant, cross-platform data storage servers for the enterprise. MTI develops, manufactures, sells and services data server solutions for Global 2000 companies on a worldwide basis. Headquartered in Anaheim, Calif., the company offers services and support from more than 40 offices in the U.S. and Europe and complies with ISO 9001 quality system standards. MTI may be reached by phone: 800-999-9MTI or 714-970-0300, fax: 714-693-2256 or e-mail: info@mti.com. Information can also be accessed via MTI Online, the company's World Wide Web server on the Internet at: www.mti.com.

To: BostonView who wrote (3578)	12/9/1999 6:42:00 PM
From: Kerry Lee	Read Replies (1) \| Respond to of 3748

This is great news if you listened to the last MTIC conference call which sounded like Amateur Hour. New/prospective MTIC investors should read the Business Week article that talked about MTIC price target /valuation based on its ownership stake in Caldera and the pending IPO, not to mention MTIC as a Fibre Channel play which are the 2 HOTTEST sectors on Wall Street ( Linux and SANs ). The only drag is their old tape business that affects the topline numbers. They should do what EMLX did ( EMLX broke out its FC/SAN business from its printer business so that Wall St could see its explosive FC business growth ). I will speculate that MTIC will pop once the Caldera S-1 is filed and the list of underwriters is unveiled ( to my knowledge, this is still in a "quiet period" and timing/bankers still being finalized..does anyone have contrary info? ).