MTI Technology’s Revenue Rises 32% for Fourth Quarter

MTI Technology Corp., an Anaheim provider of data storage management products, said that net income for the fourth quarter of fiscal 1998 rose to $5.8 million, or 19 cents a share, from $2.2 million, or 8 cents a share, for the like period of the previous year. Revenue for the quarter ended April 4 increased 32% to $55.5 million from $42.1 million.

Net income for fiscal 1998 totaled $18 million, or 62 cents a share, up from $5.7 million, or 22 cents a share, for the prior fiscal year. Revenue advanced 30% to $200 million from $153.7 million.