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Technology Stocks : Son of SAN - Storage Networking Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Neil S who wrote (646)	6/9/1998 3:48:00 PM
From: w2j2	Respond to of 4808

Adaptec introducing a new Fibre Channel controller: exchange2000.com

To: Neil S who wrote (646)	6/9/1998 6:05:00 PM
From: George Dawson	Read Replies (1) \| Respond to of 4808

Neil, Interesting find - but my impression is that this is another site where the results will not be disclosed to the public. George D.

To: Neil S who wrote (646)	6/10/1998 8:02:00 AM
From: Neil S	Respond to of 4808

NEWS: MTI Technology Expects First Quarter Revenue and Earnings To Be Below Analysts' Expectations Press Release ANAHEIM, Calif., June 9 /PRNewswire/ -- MTI Technology Corp. (Nasdaq: MTIC) today announced that it believes revenues and earnings for its first quarter ending July 4, 1998 will be below analysts' expectations. Although final results for the quarter are not expected to be announced until the third week of July 1998, company management believes that revenues will be in the $53.5 million to $56 million range, and that diluted earnings per share will be in the $0.16 to $0.18 range. In summarizing the revenue and earnings shortfall, Earl Pearlman, president and chief executive officer, stated, "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." Pearlman also 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. To mitigate the effects of this delay, our research and development staff was able to accelerate the release of our fibre channel-based Gladiator 6300 this quarter, which is based on MTI's own proprietary controller technology. This product, however, is part of an overall product line that is still relatively new to our end-user base, and the initial evaluation period has become extended. "MTI's senior management team faced considerable challenges when we came on board at the beginning of fiscal 1997. We believe we successfully met those challenges, as indicated by the company's performance over the past two years," added Pearlman. "While I certainly don't want to minimize the importance of these current challenges, I do firmly believe that we have identified the relevant issues, have determined the appropriate resolutions, and are in process of implementing the necessary actions," he said. This press release includes forward-looking statements which are subject to change, including statements regarding MTI's beliefs as to the forecasted range of the company's financial performance for the first fiscal quarter. The actual results may differ materially from those described in any forward- looking statement. Additional information on potential factors that could effect the company's financial results are included in the company's Annual Report to the SEC on form 10K for the year ended April 5, 1997. MTI's mission is to be the premier provider of high-performance, cross- platform data storage management solutions for the enterprise. MTI integrates distributed data management software, a hierarchy of modular storage systems and on-site services to meet the mass storage needs of its customers. Headquartered in Anaheim, Calif., the company offers services and support from more than 40 offices in the U.S. and Europe. 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: mti.com. MTI is a trademark of MTI Technology Corp. All other company, brand or product names are registered trademarks or trademarks of their respective holders. SOURCE MTI Technology Corp. CO: MTI Technology Corp. ST: California IN: CPR SU: ERP 06/09/98 22:58 EDT prnewswire.com