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February 7, 1999

SHARES DIVE AS PROCOM ISSUES PROFIT WARNING

By CBR Staff Writer

Irvine, California intelligent storage network developer, Procom Technology Inc announced Friday preliminary earnings below analysts’ expectations by up to 90%, causing its share price to drop almost 30% during the first hour of trading. Procom expects to report net income between $100,000 and $350,000, or $0.01 to $0.03 per share, in its second quarter to 31 January 1999, compared to $1.6m in the prior second quarter. Analysts had predicted earnings of $0.11 per share for the quarter. The company blamed declining sales of its CD-ROM servers and reduced selling days due to relocation for the poor results. It expects to report in full on February 25.

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