MTI Technology Posts Lower Fourth-Quarter Net Income

MTI Technology Corp., the Anaheim data-storage company, posted fourth-quarter net income of $3.7 million, or 13 cents a share, down 36% from the $5.8 million, or 19 cents a share, for the same quarter of the previous year. Revenue for the three months ended April 3 rose 2% to $56.6 million from $55.5 million. Net income for fiscal 1999 was $10.1 million, or 34 cents a share, down 44% from $18 million, or 62 cents a share, for the previous fiscal year. Revenue rose 1% to $201.7 million from $200 million.