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

To: Douglas Nordgren who wrote (982)	1/20/1999 4:56:00 PM
From: Douglas Nordgren	Read Replies (3) \| Respond to of 4808

LGTO Reports Record 4Q & FY '98 biz.yahoo.com ''We're very pleased with our performance in the fourth quarter and for 1998 as a whole,'' commented Louis C. Cole, President and Chief Executive Officer. ''The substantial investments we made early in 1998 to expand our sales force, professional services capabilities, support organizations, and product offerings have proven very successful, particularly in the second half of the year. Our momentum continues to build as storage management software becomes more and more of a strategic purchase among global corporations, and as an ever-broadening base of customers standardizes on Legato's full range of solutions. We are excited about the opportunities in the year ahead as we focus on establishing a leadership position within the emerging Storage Area Network (SAN) marketplace by leveraging our market share and leading-edge solutions,'' Mr. Cole concluded. ''Our recently completed fourth quarter was the strongest quarter in the company's history,'' commented Stephen C. Wise, Chief Financial Officer. ''While overall revenue was up sharply in the quarter, we were very pleased with the continued well-balanced growth across all major products lines and channel segments. Both the domestic and international businesses posted solid growth over last year's fourth quarter, with international product revenue comprising 44% of total fourth quarter product revenue. Our efforts to expand our consulting services and support offerings have resulted in a more than doubling of service and support revenues over last year's fourth quarter,'' concluded Wise.