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  1. Technology
February 7, 1999


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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