Storage Technology Corp’s fourth quarter earnings of $0.56 a share were much worse than Wall Street analysts had forecast, and the company blamed its shortfall in the quarter on several factors with its Iceberg mainframe storage device: unit volume, configuration, size and pricing on the Iceberg were all lower than anticipated. Margins were slightly below expecations, but they continue to be excellent, and, with planned technological improvements in 1995, we believe, sustainable, said Ryal Poppa, who has all the titles. The company said that its fourth quarter was its best from operations since1991, but it fell short of its own expectations. It recognisd revenue for 153 Iceberg subsystems, bringing the total to 247 since the product was introduced, but it has shipped 400 Icebergs all told so a lot still have to be paid for. The tape library business was strong, and previously announced cost-control measures were being implemented.
