Storage Technology Corp warns that it expects fourth-quarter financial results to fall below the range of analysts’ expectations because it now reckons it will be able to record revenue for fewer automated tape library units than it previously anticipated and that the mix was likely to be skewed toward lower-margin versions; also hurting profitability are […]
Storage Technology Corp warns that it expects fourth-quarter financial results to fall below the range of analysts’ expectations because it now reckons it will be able to record revenue for fewer automated tape library units than it previously anticipated and that the mix was likely to be skewed toward lower-margin versions; also hurting profitability are a higher-than-expected tax rate and restructuring costs; the firm also notes the difficult business climate, particularly in Europe and on-going investment in research and development.
