MTI Technology Says Revenue Held Down
Anaheim-based MTI Technology Corp. said it expects to report first-quarter earnings of 16 cents to 18 cents per share on revenue ranging from $53.5 million to $56 million.
The company said weakness in its European operations and delays in the release of its Gladiator 3600 fiber-channel product in certain domestic markets held down financial results.
A First Call Inc. Consensus estimate of three analysts projected MTI will earn 17 cents a share for the first quarter ending July 4.
For the first quarter ended July 5, 1997, MTI Technology reported net income of $3.1 million, or 11 cents a share, on revenue of $43.8 million.
MTI designs and makes computer-storage systems and data- management software.