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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: August 30, 1996
MTI TECHNOLOGY CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-23418 95-3601802
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization File Number) Identification No.)
4905 East La Palma Avenue
Anaheim, California 92807
(Address of principal executive offices)
Registrant's telephone number, including area code: (714) 970-0300
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ITEM 5 - OTHER EVENTS
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Effective September 3, 1996, the Company's common stock will begin
trading on the Nasdaq SmallCap Market under the symbol "MTIC" and will cease
trading on the Nasdaq National Market. On August 30, 1996, Registrant issued a
press release concerning this matter, the text of which press release is
attached hereto as Exhibit 99 and is incorporated by reference herein.
ITEM 7 - FINANCIAL STATEMENTS AND EXHIBITS
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(c) Exhibits:
99. Registrant's press release dated August 30, 1996.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MTI Technology Corporation
August 30, 1996 /s/ Dale R. Boyd
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Dale R. Boyd
Chief Financial Officer
(Principal Financial and
Accounting Officer)
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FOR IMMEDIATE RELEASE
Contact:
Frank Yoshino
(714) 693-2775
MTI MOVES TO THE NASDAQ SMALLCAP MARKET
ANAHEIM, CA -- August 30, 1996 -- MTI Technology Corp. (Nasdaq:MTIC) today
reported that effective September 3, 1996, the Company's common stock would
begin trading on the Nasdaq SmallCap Market under the symbol "MTIC" and would
cease trading on the Nasdaq National Market.
"MTI recently returned to profitability for its first quarter of fiscal
1997, ended July 6, 1996, after completing several major restructuring actions
and generating its second highest quarterly revenue in the Company's history.
While MTI's executive management was extremely pleased with the first quarter's
results, we remain committed to taking all necessary actions in an effort to
further improve the Company's financial performance. The Company's financial
recovery is at an early juncture after what have been two difficult years. We
feel that the less restrictive requirements of the Nasdaq SmallCap Market will
give management greater flexibility in its goal to sustain the profitability
achieved in the last quarter," said Dale R. Boyd, MTI's chief financial
officer.
MTI's mission is to be the premier provider of high-performance,
cross-platform storage solutions for the enterprise. MTI integrates distributed
data management software, modular storage systems and on- site service to meet
the mass storage needs of its customers.
Headquartered in Anaheim, CA, the Company offers services and support
from more than 40 offices in the United States, Canada and Europe. MTI may be
reached at 1-800-999-9MTI. Information can also be accessed via MTI On-Line,
the Company's World Wide Web server on the Internet at: http:www.mti.com.
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