Storage Technology Corp. (StorageTek) (NYSE: STK) announced solid quarterly earnings today, though product growth dropped a bit.
The company reported net income of $23.3 million, or 21 cents per diluted earnings per share, and revenue of $515 million. This compares with net income of $71.3 million in net income, or 64 cents diluted EPS, and revenue of $655.1 million last quarter (see StorageTek Aims Higher).
Storage products accounted for $294.6 million, about 57 percent, of total quarterly revenue. Within storage products, tape represented for $223.08 million, nearly 76 percent, of revenue; disk was $44.2 million, or 15 percent; network products were $17 million, about 6 percent; and other gear accounted for $10 million, or 3 percent.
While overall product revenue was less than last quarter, StorageTek execs stressed ongoing caution among IT spenders, as well as the sense that many customers may be holding up purchases as they wait for StorageTek to make available its new high-end tape library, the SL8500, later this year (see StorageTek's Incredible Bulk).
"While the IT environment shows some signs of progress, there's no real growth in budgets," CEO Patrick Martin told analysts on a conference call.
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?
