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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report: May 11, 1999
MTI TECHNOLOGY CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
Delaware
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(State or Other Jurisdiction of
Incorporation or Organization)
0-23418 95-3601802
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(Commission File Number) (I.R.S. Employer
Identification No.)
4905 E. La Palma Avenue
Anaheim, California 92807
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(Address of Principal Executive Offices) (Zip Code)
(714) 970-0300
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(Registrant's telephone number,
including area code)
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ITEM 5. OTHER EVENTS.
The information set forth in the Registrant's news release dated May
11, 1999 is incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits
99.1 Text of Press Release dated May 11, 1999.
2
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SIGNATURE
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
/s/ DALE R. BOYD
Date: May 13, 1999 ------------------------------
Dale R. Boyd
Chief Financial Officer
(Principal Financial Officer)
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INDEX TO EXHIBITS
EXHIBIT DESCRIPTION
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99.1 Text of Press Release dated May 11, 1999
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MTI PRESS RELEASE
FOR IMMEDIATE RELEASE
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Media Relations Contact: Investor Relations Contact: PR Agency Contact:
Kevin J. Liebl Frank Yoshino Kari Garcia
Vice President, Marketing Treasurer Comm Strategies
714-693-2740 714-693-2775 949-753-9292
e-mail: [email protected] e-mail: [email protected] e-mail: [email protected]
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MTI TO RECEIVE ADDITIONAL $10 MILLION ROYALTIES UNDER ITS
1996 PATENT SALE TO EMC
ANAHEIM, Calif., May 11, 1999 -- MTI Technology Corp. (Nasdaq:MTIC) today
announced that under its 1996 patent sale agreement ("Agreement") with EMC Corp.
(NYSE:EMC), MTI will receive an additional $10 million of royalties as a result
of EMC's recently announced computer and technology pact with IBM. Pursuant to
the terms and conditions of the Agreement, MTI will receive the $10 million in
equal annual installments over the next five years, bringing the current total
amount of payments MTI will receive over the life of the Agreement to $50
million.
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, Calif., the company offers services and support from
more than 40 offices in the U.S. and Europe. Authorized distributors provide
additional sales and service capabilities in Latin America and Asia/Pacific
regions. 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
Online, 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. Important factors that may cause actual results to
differ are set forth in the company's periodic filings with the U.S. Securities
and Exchange Commission.
MTI is a registered trademark of MTI Technology Corp. All other company, brand
or product names are registered trademarks or trademarks of their respective
holders. emc2
