Storage Technology

Storage Technology Corporation

The Company

Storage Technology Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: STK)") else Response.Write("(NYSE: STK)") end if %> designs, manufactures, markets, and services high-performance information storage and retrieval subsystems. The company's three product lines include serial access storage subsystems ("Nearline"), random access storage subsystems ("Online"), and network products. Nearline products include magnetic tape storage devices and automated library systems. Online products consist of rotating magnetic disk devices that utilize redundant array of inexpensive disks (RAID) technology (fault tolerant array technology) as well as solid-state direct access storage devices. Products account for 70% of revenues, while services account for the remainder.

Latest Financials

Storage Technology reported record first quarter 1997 net income of $39.6 million, or $0.64 per share. Excluding a one-time gain in the first quarter of 1996, the company reported net income of $25.6 million, or $0.48 per primary share, $0.47 on a fully diluted basis. Including the one-time gain in last year's first quarter, the company earned $35.1 million or $0.66 per share. Revenue for the quarter was $438.6 million compared with $453.5 million for the same period last year. (Go to next snapshot.)

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