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  1. Technology
January 3, 1988

STORAGE TECHNOLOGY LOOKS FOR PROFIT TO GROW 40% ON SALES UP

By CBR Staff Writer

20% IN 1988 Storage Technology Corp is looking to return to the growth tack with a vengeance this year, forecasting a 40% growth in net profits on turnover up 20%. The Louisville, Colorado company, which emerged from Chapter XI bankruptcy protection last summer, looks to be profitable in all four quarters of this year, although profits in the first half may be modest compared with the second half, and any unexpected nasties could cause a loss in one or both of the first two quarters. Fourth quarter and full year figures are due out from Storage Technology in a few days, but for the first nine months of 1987, it reported $24.5m net after $9.3m in tax credits.

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