MTI Technology Corp. (Nasdaq: MTIC) today reported a slight profit during its fiscal fourth quarter that ended in April -- sending its stock price zipping up as much as 23 percent earlier in the day (see MTI Reports Small Q4 Profit).
The Tustin, Calif.-based companys fourth-quarter earnings of $602,000, or 2 cents a share, were a significant improvement compared with the net loss of $10.8 million, or 33 cents a share, the company suffered for the same quarter a year ago. The results are also a step up from MTIs third-quarter loss of $1.4 million, or 4 cents a share.
As the rest of the market slumped this morning, investors rewarded the company's profit-taking by sending its stock soaring almost 23 percent, allowing it to cross back over the $1 mark to $1.19 per share by early afternoon. Toward the end of the session MTI was trading at $1.11, up 14 percent on the day.
That was a diametrically different reaction than the 20 percent drop that hit MTIs stock after it announced its woebegone fourth-quarter results in 2002 (see MTI Stuck in Storage Slump).
"This was a big improvement over where we were a year ago," said CEO Thomas Raimondi on a conference call today. "We believe... that the midrange marketplace is a fertile marketplace."
Bob Friday, Chief AI Officer for Juniper Networks, explains how the advanced technology is transforming operations.
Contact center leaders from 8x8, Awaken Intelligence, and 360insight discuss the importance of agent experience.
AI may force enterprises to rewire parts of their data centers so they are fully optimized to run such workloads. The question is do you use Ethernet or InfiniBand?
