MTI Expects Positive Second Quarter 2002 Results -

MTI Expects Positive Second Quarter 2002 Results

Download the authoritative guide: Enterprise Data Storage 2018: Optimizing Your Storage Infrastructure

MTI Technology Corp. , a provider of storage and business solutions, today announced its preliminary fiscal second quarter 2002 revenues are expected to exceed analysts' estimates.

The Company expects revenues for the fiscal second quarter ended October 6, 2001, to be more than $32 million, up sequentially from its first quarter level of $29.8 million. In addition, the Company plans to report a reduced operating loss in the fiscal second quarter 2002 compared to its fiscal first quarter.

Tom Raimondi, MTI's President and CEO, stated, "While the slowing economy continues to impact our market, sales to new customers combined with consistent sales to our existing customer base, resulted in increased revenues for the Company's fiscal second quarter. The uncertain economic conditions still warrant a cautious approach to managing our business, however, we believe the prudent fiscal management and cost controls implemented over the past several quarter are designed to enable MTI to ride out this downturn and position the Company for a return to profitability as expected revenue growth resumes in future quarters."

Comment and Contribute


(Maximum characters: 1200). You have characters left.



Storage Daily
Don't miss an article. Subscribe to our newsletter below.

By submitting your information, you agree that may send you ENTERPRISEStorageFORUM offers via email, phone and text message, as well as email offers about other products and services that ENTERPRISEStorageFORUM believes may be of interest to you. ENTERPRISEStorageFORUM will process your information in accordance with the Quinstreet Privacy Policy.

Thanks for your registration, follow us on our social networks to keep up-to-date