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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: February 25, 1998
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 February 25, 1998, the Company's common stock will resume
trading on the Nasdaq National Market under the symbol "MTIC" and will cease
trading on the Nasdaq SmallCap Market. On February 24, 1998, 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 February 24, 1998.
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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
March __, 1998 /s/ Dale R. Boyd
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Dale R. Boyd
Chief Financial Officer
(Principal Financial Officer)
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EXHIBIT INDEX
Exhibit
Number Description
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99 Registrant's press release dated February 24, 1998.
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EXHIBIT 99
FOR IMMEDIATE RELEASE
Media Relations Contact:
Wayne Howe
Public Relations
617-242-4424
e-mail: [email protected]
Investor Relations Contact:
Frank Yoshino
Treasurer
714-693-2775
e-mail: [email protected]
MTI MOVES TO THE NASDAQ NATIONAL MARKET
ANAHEIM, CA -- February 24, 1998 -- MTI(TM) Technology Corporation (Nasdaq:MTIC)
today reported that effective February 25, 1998, the Company's common stock
would resume trading on the Nasdaq National Market under the symbol "MTIC" and
would cease trading on the Nasdaq SmallCap Market.
"We are very pleased to announce today our re-listing on the Nasdaq
National Market. This is the end result of the considerable efforts by everyone
at MTI over the past two years", said Earl Pearlman, President and Chief
Executive Officer since April, 1996. "During this period, the Company has
aggressively pursued its strategy of focusing on the development of products
and services that meet the requirements and needs of our customers. We believe
the successful pursuit of this strategy has resulted in the substantial
improvement of the Company's operating performance and balance sheet over the
past seven quarters, and that this is an important milestone in the execution
of our plans to be a leading provider of high-performance storage solutions in
the Open Systems market."
MTI's mission is to be the premier provider of high-performance,
cross-platform data storage management solutions for the enterprise. MTI
integrates distributed data management software, a hierarchy of modular storage
systems and on-site services 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 and Europe. MTI may be reached by phone:
800-999-9MTI or 714-970-0300, fax: 714-693-2256 or e-mail: [email protected].
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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This press release includes forward-looking statements, including statements
regarding the Company's product development plans, which are subject to change.
The actual results may differ materially from those described in any
forward-looking statement.
