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StorageTek Revenues and Income Up

StorageTek Revenues and Income Up

Thursday Oct 25th 2001 by Network Storage Forum Staff

Net income up 113% over the same quarter last year,

StorageTek(R) (Storage Technology Corp.) this week announced third quarter 2001 net income of $17.9 million. The company said this amount represent an improvement of 113 percent over third quarter 2000 net income of $8.4 million.

According to the company, revenue for the third quarter of 2001 was $498 million, as compared to revenue for the third quarter of 2000 of $487 million.

"I am pleased that we were able to deliver on our plans in this very challenging economic environment. I want to congratulate our employees for pulling together to make this quarter successful and for their commitment to our customers during this painful time in history," said Patrick Martin, StorageTek chairman, president and chief executive officer. "In spite of the challenges, we had quite a respectable revenue performance with a strong flow-through to profits."

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