MTI Technology Corp.: The Anaheim computer products...

MTI Technology Corp.: The Anaheim computer products company reported a net loss of $20.6 million, or $1.08 a share, for the fiscal year ended April 1. The company said a substantial portion of the loss included approximately $12.4 million in reserves and write-downs of slower-moving assets that support the digital market. For the previous year, the company recorded net income of $2.9 million, or 18 cents a share. Revenue was up 6% to $130.4 million for the fiscal year from $123.5 million for the previous year. For the fourth quarter, the company lost $20.4 million, or $1.07 a share, contrasted with earnings of $1.4 million, or 9 cents a share, for the previous year’s final three months. Quarterly revenue dropped 25% to $28.2 million from $37.7 million.