SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

   Technology StocksDataLink


Previous 10 Next 10 
To: bob gauthier who wrote (18)12/28/1999 4:18:00 PM
From: bob gauthier
   of 48
 
Title: Datalink Selected for Internal Storage Area Network Implementation At
BROCADE
Date: 12/28/99

MINNEAPOLIS--(BUSINESS WIRE)--Dec. 28, 1999--
Systems Integrator to Deliver State-of-the-Art SAN with LAN-free
Backup and Shared Disk Capabilities
Datalink (Nasdaq: DTLK), a leading, independent networked storage
solutions provider, announced today that BROCADE Communications
Systems, Inc. (BROCADE(R)) has selected Datalink to implement a
state-of-the-art internal Storage Area Network (SAN) at the
BROCADE headquarters in San Jose, California.
Tailored to support BROCADE's rapid growth as the leading supplier
of Fibre Channel fabric solutions, Datalink will implement an
advanced storage management solution for BROCADE in a multi-phase
approach. Phase one includes the integration of LAN-free backup
(with dynamic tape allocation) and shared disk capabilities in a
homogeneous, multi-server environment. In phase two, Datalink will
build upon this infrastructure, incorporating multi-node
clustering and scaled storage systems for BROCADE's heterogeneous,
multi-server environment. Datalink's SAN provides the
infrastructure to support BROCADE's data assets into the future by
accommodating growth and ensuring availability and recoverability.
"Expanding our storage area network capabilities is an important
part of our IT strategy during this period of rapid market growth.
As the leading provider of fabric switches to enable fast,
reliable connectivity for storage area networks, expanding our own
internal SAN infrastructure will help support our ever-increasing
storage and information needs," said Michael Jones, BROCADE chief
information officer.
"We are pleased BROCADE selected Datalink to integrate a multi-
phase SAN solution," states Greg Meland, Datalink president and
CEO. "BROCADE's selection of Datalink for this project is an
important testimony of our SAN integration expertise."
About Datalink
Datalink Corporation, based in Minneapolis, Minnesota, is the
industry's leading independent provider of networked storage
solutions for Open Systems computing environments. Designed to
store, access, and protect business critical information, the
Company's solutions are developed using best-of-breed technologies
and professional services. A comprehensive suite of services -
analysis, design, integration, implementation, training, technical
support, and maintenance - are delivered by Datalink's multi-
tiered professional services organization.
For more information on Datalink, call 1-800-448-6314, e-mail
info@datalink.com or visit datalink.com.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding
Datalink Corporation's business which are not historical facts are
"forward-looking statements" that involve risks and uncertainties.
For a discussion of such risks and uncertainties, which could
cause actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" in the Company's
Prospectus and information contained in reports filed with the
U.S. Securities and Exchange Commission.


CONTACT: Datalink Corporation, Minneapolis
Donna Grover
(612) 944-3462
(612) 944-7869 (fax)


Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: bob gauthier who wrote (20)3/8/2000 8:18:00 AM
From: bob gauthier
   of 48
 
Datalink and holders file to sell 2.5 mln shares
WASHINGTON, March 7 (Reuters) - Datalink Corp. (NasdaqNM:DTLK - news), aprovider of networked data storage solutions, filed on Tuesday to sell 2.2 million shares of common stock and some of its stockholders filed to sell 300,000 shares.

The company will likely net $42 million from the sale of its shares which will be used to fund its growth and expansion plans as well as working capital and other general corporate purposes, according to a prospectus filed with the Securities and Exchange Commission.

It will not receive any of the proceeds from the shares sold by stockholders who include its chief executive and president Greg Meland, the filing said.

After the offering there will be almost 11 million shares outstanding.

The underwriters, Salomon Smith Barney, Needham & Co. Inc. and Morgan Keegan & Co. Inc., have been granted the option to purchase an extra 375,000 shares of common stock to cover over-allotments in the event of heavy demand.

Shares in the Minneapolis-based company closed down 9/16 to 19-15/16 on Nasdaq.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: bob gauthier who wrote (21)3/20/2000 8:24:00 AM
From: bob gauthier
   of 48
 
Title: LSI Logic and Datalink Form Strategic Alliance To Deliver Leading-Edge
Storage and Services Solutions
Date: 3/20/00

MILPITAS, Calif., and MINNEAPOLIS, Minn., March 20 /PRNewswire/ --
LSI Logic Storage Systems, Inc. and Datalink Corporation (Nasdaq:
DTLK) today announced they have formed an alliance to deliver
advanced networked storage solutions. LSI Logic Storage Systems is
a leading supplier of high performance, highly scalable open
storage systems and storage management software for the
enterprise. Datalink, a premier provider of networked data storage
solutions for more than ten years, develops, implements, and
supports high performance networked storage solutions for open
systems computing environments.
Under the terms of the agreement, Datalink will integrate the
MetaStor(R) product family into its suite of storage area network
(SAN) and network-attached storage (NAS) solutions. The MetaStor
family of products by LSI Logic Storage Systems includes Fibre
Channel- and SCSI-attached storage systems, NAS offerings, and
storage management software. Interoperability testing, conducted
by both Datalink and LSI Logic, delivers robust SAN and NAS
solutions, promoting 24 X 7 customer access to business-critical
data.
"We are pleased to join with LSI Logic Storage Systems as a
channel partner representing the MetaStor line of scalable storage
systems," said Greg Meland, president and chief executive officer,
Datalink. "Our independence gives us the flexibility to choose
from the best technologies available in the industry. The high
performance and unique functionality of the MetaStor products
enhances our ability to provide state-of-the-art solutions for our
customers. LSI Logic is not only positioned to provide high
quality products today, they also have a well-developed roadmap
for future products, which is important to us as we build systems
that can expand to address future customer needs," Meland added.
"We expect this new relationship to be very successful and
beneficial to our mutual customers by delivering proven,
interoperability-tested, networked storage solutions," explained
Allen Yuhas, senior vice president of worldwide sales and service,
LSI Logic Storage Systems, Inc. "With their strong solutions and
services orientation, Datalink is an ideal partner to offer the
MetaStor family of open storage products to satisfy even the most
demanding storage needs."
About LSI Logic Storage Systems
LSI Logic Storage Systems, Inc., a subsidiary of LSI Logic
Corporation (NYSE: LSI), is a leader in delivering high
performance, highly scalable, open storage solutions for the
enterprise. Available through leading OEM suppliers and a
worldwide network of resellers under the MetaStor(R) brand name,
LSI Logic offers a complete line of robust Fibre Channel, SCSI and
network-attached storage products integrated with centralized
storage management software. Additionally, the MetaStor Open SAN
Initiative offers certified, interoperability-tested storage area
network (SAN) solutions. For MetaStor product information, please
call 1-888-METASTOR or visit www.metastor.com. The e-mail address
for product information is info@metastor.com.
About LSI Logic
LSI Logic Corporation (NYSE: LSI), is a leading supplier of
communications chips for broadband, data networking, wireless and
set-top box applications. In addition, the company provides chips
and boards for network computing and supplies storage network
solutions for the enterprise. LSI Logic is headquartered at 1551
McCarthy Boulevard, Milpitas, CA 95035, 408-433-8000,
www.lsilogic.com.
About Datalink
Datalink Corporation, based in Minneapolis, Minnesota, is the
industry's leading independent provider of networked storage
solutions for open systems computing environments. Designed to
store, access, and protect business critical information, the
Company's solutions are developed using best-of-breed technologies
and professional services. A comprehensive suite of services --
analysis, design, integration, implementation, training, technical
support and maintenance -- are delivered by Datalink's multi-
tiered professional services organization.
For more information on Datalink, call 1-800-448-6314, e-mail
info@datalink.com or visit datalink.com.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding
Datalink Corporation's business which are not historical facts are
"forward-looking statements" that involve risks and uncertainties.
For a discussion of such risks and uncertainties, which could
cause actual results to differ from those contained in the
forward-looking statements, see "Risk Factors" in the Company's
Prospectus and information contained in reports filed with the
U.S. Securities and Exchange Commission. SOURCE LSI Logic Storage
Systems, Inc.; Datalink Corporation
/NOTE TO EDITORS: The LSI Logic logo design and MetaStor(R) are
registered trademarks of LSI Logic Corporation. All other products
or company names mentioned are used for identification purposes
only, and may be trademarks of their respective owners./
CONTACT: Joanna Tschiffely of LSI Logic Storage Systems, Inc.,
970-206-5882, joanna.tschiffely@lsil.com; or Donna Grover of
Datalink Corporation, 952-944-3462, press@datalink.com/

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: bob gauthier who wrote (22)3/31/2000 8:37:00 AM
From: bob gauthier
   of 48
 
SEC form 10-K405
I received an email saying DTLK had filed a SEC form 10-K405. I can't find the form anywhere. Does anyone know what this SEC form is and what it might imply.??
Thanks...

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: bob gauthier who wrote (23)4/13/2000 7:56:00 AM
From: bob gauthier
   of 48
 
Datalink Corporation Reports First Quarter Operating Results Strong Growth Continues
MINNEAPOLIS--(BUSINESS WIRE)--April 13, 2000--Datalink Corporation (NASDAQ: DTLK - news), a premier independent provider of networked data storage solutions, reported that revenues for the quarter ended March 31, 2000 increased 9% to $28.0 million from $25.7 million in the same period a year ago. As previously announced and discussed below, Datalink recently changed its 2000 revenue recognition policies in response to a recent SEC accounting bulletin. As a result, Datalink's 2000 operating results are not directly comparable with its 1999 results. Absent the change in revenue recognition policies, first quarter 2000 revenues would have been $34.8 million, a 35% increase over the first quarter of 1999.

Greg Meland, Datalink's President and CEO commented: ``We continue to experience strong demand in the marketplace for our networked data storage solutions. Over the past year, we have added sales and technical staff to meet the growing marketplace demand for data storage technology and data storage capacity. Datalink continues to lead its industry in the implementation of open networked data storage solutions, such as storage area networks.'

``Across all industries, we see dramatic increases in the volume of business-critical data. We are well positioned to help businesses with the challenge of managing this data. We partner with fibre channel switch leader Brocade Communications Systems, Inc., and others with industry leading products, to blend the best new technologies into open networked solutions for our customers. As we look to seize the growing opportunity in the marketplace, we plan to continue to expand our sales and technical staff.'

As previously announced, Datalink modified its revenue recognition policies beginning January 1, 2000 in response to the Securities and Exchange Commission's recently issued Staff Accounting Bulletin No. 101 - ``Revenue Recognition.' With these operating results, Datalink has applied its new policies. The changes relate to sales of hardware and software solutions, and service contracts. Historically, Datalink recognized hardware and software product revenues upon shipment to customers and service contract revenues upon signing of the contract. Datalink now recognizes hardware and software product revenues upon completion of installation services, and service contract revenues over the life of the contract, which is typically one year.

Dan Kinsella, Datalink's Chief Financial Officer, stated: ``Our new accounting policies merely defer the recognition of our revenues and do not impact the cash flows, revenues or profits we ultimately recognize. However, as a result of our accounting policy changes, we regularly ship hardware and software products at the end of a quarter that will not be included in our reported revenues because we did not complete our installation and configuration services. Our 2000 operating results therefore cannot be directly compared to our prior period operating results, as we recognized revenues in prior periods upon shipment.'

Datalink reported first quarter 2000 income before the cumulative effect of the changes in accounting policies of $936,000, or $.10 per diluted share. By comparison, Datalink's first quarter 1999 net income, adjusted to include income taxes and exclude public offering costs, was $910,000 or $.14 per diluted share.

Kinsella further commented: ``We generated outstanding growth and profitability in the first quarter. However, because we could not practically complete installation and configuration for a significant number of hardware and software solutions we shipped during March, we have deferred a significant amount of revenue and profits from our first quarter. We expect to recognize revenues for these transactions in our second quarter as we complete the installation and configuration services for our customers.'

Kinsella also noted that in the first quarter of 2000, Datalink has recognized a $1.3 million one-time non-cash charge, net of income taxes, for the cumulative effect of the accounting policy changes, or $.14 per diluted share.

Datalink Corporation, based in Minneapolis, Minnesota, is a premier independent provider of networked data storage solutions for open systems computing environments. Datalink develops solutions that are designed to store, access and protect business critical information using best of breed technologies and professional services. Datalink's multi-tiered professional services organization delivers a comprehensive suite of services, including analysis, design, integration, implementation, training, technical support and maintenance.

The Private Securities Litigation Reform Act of 1995 provides a ``safe harbor' for certain forward-looking statements. This press release contains forward-looking statements, which reflect our views regarding future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties, including those identified below, which could cause actual results to differ materially from historical results or those anticipated. The words ``aim,' ``believe,' ``expect,' ``anticipate,' ``intend,' ``estimate' and other expressions which indicate future events and trends identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending upon a variety of factors, including, but not limited to: our ability to hire and retain key technical and other personnel; competition and pricing pressures that may adversely affect our revenues and profits; the level of continuing demand for data storage; our dependence on key suppliers; the strain placed on our resources by growth and expansion; our ability to adapt to rapid technological change; risks associated with possible future acquisitions; fluctuations in our quarterly operating results; future changes in applicable accounting rules; any remaining impact of Year 2000 issues; and volatility in our stock price.

--FINANCIAL TABLES TO FOLLOW--

Datalink Corporation
Condensed Consolidated Statements of Operations
(in thousands, except per share data)

Three Months Ended
March 31,
(unaudited)
2000 1999

Revenues $27,998 $25,682
Cost of revenues 20,312 19,071
-------------------
Gross profit 7,686 6,611
-------------------

Sales and marketing 3,475 2,529
General and
administrative 2,135 1,690
Engineering 595 776
Offering costs (1) - 173
-------------------
Total operating expenses 6,205 5,168
-------------------
Income from operations 1,481 1,443

Interest income
(expense), net 76 (74)
-------------------
Income before income
taxes 1,557 1,369

Income taxes (2) 638 (556)
-------------------
Income before cumulative
effect of a change
in accounting principle 919 1,925

Cumulative impact of a
change in accounting
policy, net of
income taxes (3) (1,327) -
-------------------

Net income (loss) $ (408) $1,925
===================

Net income per share:

Basic:
Income per share before
cumulative effect of a
change in accounting $ 0.10 $ 0.29
principle

Loss per share from the
cumulative effect of a
change in accounting
principle (0.15) -
-------------------

Net income
(loss) per share $ (0.05) $ 0.29
===================

Fully diluted:
Income per share before
cumulative effect of
a change in
accounting principle $ 0.10 $ 0.29

Loss per share from the
cumulative effect of
a change in
accounting principle (0.14) -
-------------------

Net income (loss) per
share $(0.04) $ 0.29
===================

Weighted average shares
outstanding:

Basic 8,773 6,710

Fully
diluted 9,261 6,710

(1) Reflects legal, accounting, and other costs associated with the
Company's initial public offering, which was postponed due to
market conditions.

(2) Income tax benefit in 1999 reflects a one time tax benefit from
the conversion of the Company's wholly-owned subsidiary from
C-Corporation status to the Company's S-Corporation status.

(3) Effective January 1, 2000 the Company changed its revenue
recognition policies related to hardware and software products
and for service contracts. The amount represents the cumulative
impact of the new policies, net of income taxes, on periods prior
to January 1, 2000.

Pro forma income (loss)
and income (loss) per
share calculations:

Pro forma income before
cumulative effect of
a change in account
principle (1) $ 919 $ 808
Cumulative effect of a
change in accounting
principle, net of
income taxes (1,327) -
-----------------

Net income (loss) $ (408) $ 808
===================

Pro forma income per
share before
cumulative effect of
a change in
accounting
prinicple (2) $ 0.10 $ 0.10

Cumulative effect per
share, of a change in
accounting principle,
net of income taxes (0.14) -
-------------------
Net income
(loss) per share $ (0.04) $ 0.10
===================

Weighted average shares
used in calculating pro
forma income per share:

Fully diluted weighted
average shares 9,261 6,710

Additional shares
required to fund
distribution to
shareholders - 1,309
-------------------

9,261 8,019
===================

(1) Pro forma net income is calculated as if the Company was subject
to income taxes for all periods presented.

(2) Pro forma income per share is computed by dividing pro forma net
income by the fully dilluted weighted average number of shares
for the period, after giving effect to the number of shares that
would be required to be sold at the initial offering price to
fund a distribution to the shareholders of all previously taxed,
but undistributed, S Corporation earnings.

Net income per share assuming income taxes and excluding offering cost
expenses before the cumulative effect of a change in accounting
principle:

Net income(1) $ 919 $ 910

Net income per share:

Basic $ 0.10 $ 0.14

Fully
diluted $ 0.10 $ 0.14

Weighted average shares
outstanding:
Basic
8,773 6,710
Fully
diluted 9,261 6,710

(1) Reflects net income excluding offering expenses and assuming the
Company was subject to income taxes for all periods presented.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: bob gauthier who wrote (24)6/6/2000 8:29:00 AM
From: bob gauthier
   of 48
 
Datalink Opens Sales Offices in Portland, Oregon and Raleigh, North Carolina
Growth continues for networked data storage solutions provider
MINNEAPOLIS--(BUSINESS WIRE)--June 6, 2000-- Datalink Corporation (NASDAQ:DTLK - news), an independent networked storage solutions provider headquartered in Minneapolis, Minnesota, announced today the opening of two new sales offices located in Portland, Ore. and Raleigh, N.C. Datalink now has 21 offices located across the United States.

``We are excited to expand our sales and service efforts into these high growth locations,'' comments Steve Howe, Vice President of Sales and Marketing, Datalink. ``This expansion is consistent with our model of dedicating resources to serve key regions across the United States. Our local presence allows us to build strong relationships with our customers and vendor partners, positioning us to design, implement, and support solutions that meet the unique data networked storage needs of each customer. The Portland office expands our reach into Oregon and the Raleigh office complements our existing office in Charlotte, North Carolina.''

The Portland office, located at 5149 SW 26th Drive, Portland,
Ore. 97201 can be reached by calling 1-800-215-7338 or

1-800-448-6314.

The Raleigh office, located at 201 Shannon Oaks Circle, Suite
200, Cary, N.C. 27511, can be reached by calling

1-800-771-9636 or 1-800-448-6314.

ABOUT DATALINK:

Datalink Corporation (NASDAQ:DTLK - news), based in Minneapolis, Minnesota, is the industry's premier independent provider of networked storage solutions for open systems computing environments. Designed to store, access, and protect business critical information, the Company's solutions are developed using best-of-breed technologies and professional services. A comprehensive suite of services - analysis, design, integration, implementation, training, technical support, and maintenance - are delivered by Datalink's multi-tiered professional services organization. For more information on Datalink, call 1-800-448-6314, e-mail info@datalink.com or visit datalink.com.

``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Datalink Corporation's business which are not historical facts are ``forward-looking statements'' that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ``Risk Factors'' in the Company's Prospectus and information contained in reports filed with the U.S. Securities and Exchange Commission.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: bob gauthier who wrote (25)6/8/2000 9:46:00 AM
From: bob gauthier
   of 48
 
Datalink and Spectra Logic Corporation Form Strategic Partnership to Deliver Robust Data Protection Solutions
Integration and manufacturing expertise partner to protect mission-critical data
MINNEAPOLIS--(BUSINESS WIRE)--June 8, 2000-- Datalink Corporation (NASDAQ:DTLK - news) and Spectra Logic© Corporation announced today a strategic partnership to provide customers with robust data protection solutions that include leading automated tape technologies for direct-attached, network-attached storage (NAS), and storage area network (SAN) environments. Spectra Logic is a leading manufacturer of high-performance tape automation products providing mission-critical data protection for companies worldwide. Datalink, a premier provider of data storage solutions for 13 years, develops, implements and supports networked storage solutions for open systems computing environments.

Under the terms of the agreement, Datalink will integrate Spectra Logic's tape automation products into its suite of offerings. Spectra Logic's automated tape libraries use Sony's AIT family of tape technologies, providing maximum backup capacity in the smallest amount of space, saving valuable datacenter resources. Spectra Logic tape libraries are available with a wide range of interfaces, including SCSI and Fibre Channel and offer capacities from 60 Gigabytes to hundreds of Terabytes.

``We are pleased to announce our selection of Spectra Logic as a partner, which enhances our offerings by providing tape automation products that deliver an unmatched combination of storage density, performance, and capacity,'' said Greg Meland, President and Chief Executive Officer, Datalink. ``Spectra Logic libraries provide viable, cost-effective options as we design and deploy robust data protection solutions that address the unique needs of our customers.''

``Spectra Logic is excited to be partnering with Datalink to provide comprehensive data protection solutions for direct-attached, network-attached storage (NAS), and storage area network (SAN) environments,'' said Nathan Thompson, CEO of Spectra Logic. ``With Datalink's technical expertise in areas such as design, configuration, installation and support, the partnership brings real value to customers by allowing them to leverage existing investments in hardware while taking advantage of new technologies as they develop.''

ABOUT DATALINK:

Datalink Corporation (NASDAQ:DTLK - news), based in Minneapolis, Minnesota, is the industry's premier independent provider of networked storage solutions for open systems computing environments. Designed to store, access, and protect business critical information, the Company's solutions are developed using best-of-breed technologies and professional services. A comprehensive suite of services - analysis, design, integration, implementation, training, technical support and maintenance - are delivered by Datalink's multi-tiered professional services organization. For more information on Datalink, call 1-800-448-6314, e-mail info@datalink.com or visit datalink.com.

ABOUT SPECTRA LOGIC CORPORATION:

Spectra Logic Corporation is a leading manufacturer of high-performance tape automation products providing mission-critical data protection for companies worldwide. Spectra Logic tape library products offer capacities from 60 Gigabytes to hundreds of Terabytes. The Boulder, Colorado-based company's products operate on a broad range of platforms and utilize a wide range of interface configurations to take advantage of rapidly evolving SAN, NAS, and direct-attached storage architectures. For more information, contact Spectra Logic by phone at (800) 833-1132, or visit the company's web site at spectralogic.com.

Forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995 are ``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Datalink Corporation's business which are not historical facts are ``forward-looking statements'' that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ``Risk Factors'' in the Company's Prospectus and information contained in reports filed with the U.S. Securities and Exchange Commission.

Share RecommendKeepReplyMark as Last ReadRead Replies (2)


To: bob gauthier who wrote (26)6/27/2000 8:37:00 AM
From: bob gauthier
   of 48
 
Datalink and EMC Extend Reseller Alliance
Datalink to Offer Full Line of EMC CLARiiON Storage Systems
MINNEAPOLIS & HOPKINTON, Mass.--(BUSINESS WIRE)--June 27, 2000-- Datalink Corporation, a premier provider of data storage solutions for open systems computing environments and EMC Corporation, the world leader in information storage, today announced they have signed a value added systems integrator agreement that enables Datalink to offer the full line of EMC's CLARiiON storage systems to customers nationwide.

Under the terms of the agreement, Datalink will integrate EMC's family of CLARiiON Fibre Channel storage systems and software, including the new CLARiiON FC4500 and EMC Access Logix software, into its suite of direct-attached storage and storage area network (SAN) solutions. EMC's CLARiiON systems provide storage consolidation for multiple, heterogeneous hosts (shared access for Sun Solaris, Windows NT, HP-UX and IBM AIX) and provide significant software functionality for the management, sharing and protection of critical information.

Greg Meland, Datalink's President and CEO, said, ``This new agreement with EMC will provide our customers with an industry leading storage system, new features and functionality as well as a clear strategy and set of additional solutions to support their enterprise storage needs, no matter how large they grow.''

Tom Heiser, EMC's Vice President of Global Channels, said, ``With 13 years of experience in the storage market, Datalink has the knowledge and integration experience to provide customers with a range of EMC solutions to meet their most demanding information requirements.''

ABOUT DATALINK

Datalink Corporation (NASDAQ:DTLK - news), based in Minneapolis, Minnesota, is the industry's leading independent provider of networked storage solutions for open systems computing environments. Designed to store, access, and protect business critical information, the Company's solutions are developed using best-of-breed technologies and professional services. A comprehensive suite of services -- analysis, design, integration, implementation, training, technical support and maintenance -- are delivered by Datalink's multi-tiered professional services organization. For more information on Datalink, call 1-800-448-6314, e-mail info@datalink.com or visit datalink.com.

ABOUT EMC

EMC Corporation (NYSE: EMC - news) is the world leader in information storage systems, software, networks and services, providing the information infrastructure for a connected world. Information about EMC's products and services can be found at emc.com.

``Safe Harbor'' Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Datalink Corporation's business which are not historical facts are ``forward-looking statements'' that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ``Risk Factors'' in the Company's Prospectus and information contained in reports filed with the U.S. Securities and Exchange Commission.

EMC and CLARiiON are registered trademarks and EMC Access Logix and E-Infostructure are trademarks of EMC Corporation. Other trademarks may be the property of their respective owners.

Share RecommendKeepReplyMark as Last Read


To: bob gauthier who wrote (26)6/27/2000 8:39:00 AM
From: bob gauthier
   of 48
 
Crossroads Systems Names Datalink Corporation as Top Solutions Provider of 1999
AUSTIN, Texas--(BUSINESS WIRE)--June 26, 2000--Crossroads Systems Inc. (Nasdaq:CRDS - news), the leading developer and manufacturer of storage routers for Fibre Channel Storage Area Networks (SANs), has named Datalink Corporation, (Nasdaq:DTLK - news) a leading, independent networked storage solutions provider, as its top Solutions Provider of 1999.

Crossroads presented Datalink with the ``1999 Solutions Provider of the Year Award'' at the Datalink National Sales Meeting, held at the Loews Hotel on Coronado Island in San Diego, Calif.

``This award is given to Datalink in recognition of their outstanding contribution to our growth in the SAN marketplace in 1999,'' said Larry Sanders, president and COO, Crossroads Systems. ``We're proud to partner with a customer-focused company like Datalink.''

Crossroads initiated a focus on channel sales in July 1999 and since then, Datalink has proven to be a strong player in Crossroads' reseller strategy and continues to grow sales at a rapid pace. Crossroads will continue to rely on strong channel relationships that put Crossroads-branded products into the hands of the end user.

``Datalink is honored to have been chosen Crossroads' Top Solutions Provider for 1999. This award is a testimonial to the value and impact of strong partnerships,'' said Steve Howe, vice president of sales and marketing, Datalink. ``Our ability to design and deliver sophisticated solutions in networked storage has been greatly supported through Crossroads' products. As Datalink looks toward continued success in 2000, ongoing technological leadership and innovation from important partners, like Crossroads, will help us meet the expectations of our clients and shareholders.''

About Datalink Corporation

Datalink Corporation (Nasdaq:DTLK - news), based in Minneapolis, Minn., is the industry's premier independent provider of networked storage solutions for open systems computing environments. Designed to store, access and protect business critical information, the Company's solutions are developed using best-of-breed technologies and professional services. A comprehensive suite of services -- analysis, design, integration, implementation, training, technical support and maintenance -- are delivered by Datalink's multi-tiered professional services organization. For more information on Datalink, call 800/448-6314, e-mail info@datalink.com or visit datalink.com.

About Crossroads' Storage Routers

Crossroads' family of storage routers provide multi-protocol connectivity to Fibre Channel Storage Area Networks for a wide range of devices, including servers, S/390 mainframes, and disk and tape storage systems. Crossroads' solutions deliver exceptional value to both small and mid-sized companies, as well as large Global 500 enterprises.

About Crossroads Systems Inc.

Headquartered in Austin, Texas, Crossroads Systems (Nasdaq:CRDS - news), is the leading provider of enterprise data center routing solutions for open system Storage Area Networks including S/390 connections. Crossroads' solutions enable key Internet, Intranet and e-commerce applications. By using Crossroads, customers can more effectively and efficiently store, manage and ensure the integrity and availability of their data in the Internet economy. Crossroads' products are in solutions from ADIC, Compaq, Dell, Fujitsu-Siemens, Hewlett-Packard, Hitachi Data Systems, IBM, McDATA, StorageTek, Bell Micro, Cranel, Datalink and Tech Data. Employment opportunities of a lifetime and more information about Crossroads Systems are at www.crossroads.com, or call 800/643-7148.

This release may contain forward-looking statements that involve risks and uncertainties. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: Crossroads' limited operating history which makes it difficult to accurately predict revenues and budget for expenses for future periods; the extent of Crossroads' future operating losses and negative cash flow; the dependence of Crossroads' business on the storage area network market which is new and unpredictable; Crossroads' ability to develop new and enhanced products that achieve market acceptance; the continuation of Crossroads' successful relationships with its limited number of OEM customers; Crossroads' ability to retain and recruit key personnel to manage its business successfully; the quarterly fluctuations of Crossroads' operating results; Crossroads' ability to successfully achieve the benefits of the acquisition of Polaris Communications and any subsequent acquisition or strategic relationship; and that Crossroads' stock price could be volatile regardless of Crossroads' actual financial performance and other factors detailed in Crossroads' filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Report on 10-Q.

Share RecommendKeepReplyMark as Last ReadRead Replies (1)


To: bob gauthier who wrote (28)7/19/2000 8:22:56 AM
From: bob gauthier
   of 48
 
Datalink Corporation Reports Second Quarter and Six Month Operating Results
Sales and Earnings Growth Continues
MINNEAPOLIS--(BUSINESS WIRE)--July 19, 2000-- Datalink Corporation (NASDAQ: DTLK - news), a premier independent provider of networked data storage solutions, reported that revenues for the quarter ended June 30, 2000 increased 17% to $ 34.9 million from $29.8 million in the same period a year ago. Net income was $1.4 million or $.15 per diluted share, compared to $2.0 million or $.33 per diluted share for the same period in the prior year. Net income, adjusted for comparability purposes to include taxes and exclude costs of a public offering cancelled due to market conditions, was $1.6 million or $.18 per diluted share, compared to $1.2 million or $.20 per diluted share in the second quarter of 1999.

For the six months ended June 30, 2000, revenues totaled $62.9 million, an increase of 13% over the $55.5 million in revenues generated in the same period a year ago. Net income before the cumulative impact of a change in accounting principle for the six months ended June 30, 2000 was $2.3 million or $.25 per diluted share, compared to $3.9 million or $ .61 per diluted share in the same period a year ago. Net income, adjusted for comparability purposes to include income taxes and exclude public offering costs was $2.5 million, or $.28 per diluted share, compared to $2.1 million or $.33 per diluted share for the same period in 1999.

Greg Meland, Datalink's President and CEO commented: ``It has been a quarter of significant accomplishments and recognition for Datalink. We continued to profitably grow our business by bringing the best networked data storage technologies to our customers. In the first half of 2000, we opened three new offices: Portland, Raleigh and San Diego. We were recognized by Business Week magazine as a high growth company and by Network World magazine as a company with high productivity per employee. While the recognition is significant for us, our company has always been about helping our customers to succeed.''

``Today, more than ever, companies in our marketplace are facing daunting challenges with the storage and management of their computer data. Using SANs (Storage Area Networks) and a broad array of new data storage hardware and software products, we have the tools and have developed the technological know-how to meet the growing data storage technology and data storage capacity needs of the marketplace.''

``As we look forward, we see no end to the dramatic increases in the volume of business-critical data. We believe that we are well positioned to help businesses with the challenge of managing this data. Our business model continues to generate success for our customers as well as profitable growth for us.''

As previously announced, Datalink modified its revenue recognition policies beginning January 1, 2000 in response to the Securities and Exchange Commission's recently issued Staff Accounting Bulletin No. 101 - ``Revenue Recognition.'' With these operating results, Datalink has continued to apply its new policies. The changes related to sales of hardware and software solutions and service contracts. Historically, Datalink recognized hardware and software product revenues upon shipment to customers and service contract revenues upon signing of the contract. Datalink now recognizes hardware and software product revenues upon completion of installation services, and service contract revenues over the life of the contract, which is typically one year.

Included in the operating results for the three months ended June 30, 2000 is $381,000 of offering costs related to the Company's decision to cancel a second public offering of its common stock due to adverse market conditions.

Datalink Corporation, based in Minneapolis, Minnesota, is a premier independent provider of networked data storage solutions for open systems computing environments. Datalink develops solutions that are designed to store, access and protect business critical information using best of breed technologies and professional services. Datalink's multi-tiered professional services organization delivers a comprehensive suite of services, including analysis, design, integration, implementation, training, technical support and maintenance.

-0-

Datalink Corporation
Condensed Consolidated Statements of Operations
(in thousands, except per share data)

Three Months Ended Six Months Ended
June 30, June 30,
(unaudited) (unaudited)
2000 1999 2000 1999
---- ---- ---- ----
Revenues $34,911 $29,843 $62,909 $55,525
Cost of revenues 25,071 22,191 45,383 41,262
----------------- ----------------
Gross profit 9,840 7,652 17,526 14,263
----------------- ----------------

Sales and marketing 3,958 3,004 7,433 5,533
General and administrative 2,387 1,920 4,524 3,610
Engineering 853 614 1,446 1,390
Offering costs (1) 381 - 381 173
----------------- ----------------
Total operating expenses 7,579 5,538 13,784 10,706
----------------- ----------------
Income from operations 2,261 2,114 3,742 3,557

Interest income (expense), net 123 (109) 199 (183)
----------------- ----------------
Income before income taxes 2,384 2,005 3,941 3,374

Income taxes (2) 978 39 1,616 (517)
----------------- ----------------
Income before cumulative
effect of a change in
accounting principle 1,406 1,966 2,325 3,891

Cumulative impact of a
change in accounting policy,
net of income taxes (3) - - (1,327) -
----------------- ----------------
Net income (loss) $ 1,406 $ 1,966 $ 998 $ 3,891
================= ================

Net income per share:

Basic:
Income per share before
cumulative effect of a
change in accounting principle $ 0.16 $ 0.33 $ 0.26 $ 0.61
Loss per share from the
cumulative effect of a
change in accounting principle - - (0.15) -
----------------- ----------------
Net income (loss) per share $ 0.16 $ 0.33 $ 0.11 $ 0.61
================= ================

Fully diluted:
Income per share before
cumulative effect of a change
in accounting principle $ 0.15 $ 0.33 $ 0.25 $ 0.61
Loss per share from the
cumulative effect of a change
in accounting principle - - (0.14) -
----------------- ----------------
Net income (loss) per share $ 0.15 $ 0.33 $ 0.11 $ 0.61
================= ================

Weighted average shares
outstanding:
Basic 8,776 6,004 8,774 6,355
Fully diluted 9,192 6,004 9,182 6,355

(1) Reflects legal, accounting and other costs associated with the
Company's public offerings, which were postponed or cancelled due to
market conditions.

(2) Income tax benefit in 1999 reflects a one time tax benefit from
the conversion of the Company's wholly-owned subsidiary from
C-Corporation status to the Company's S-Corporation status.

(3) Effective January 1, 2000, the Company changed its revenue
recognition policies related to hardware and software products and for
service contracts. The amount represents the cumulative impact of the
new policies, net of income taxes, on periods prior to January 1,
2000.

Pro forma income (loss) and income (loss) per share calculations:

Pro forma income before cumulative
effect of a change in accounting
principle (1) $ 1,406 $ 1,160 $ 2,325 $ 1,991
Cumulative effect of a change
in accounting principle, net of
income taxes - - (1,327) -
--------------- ----------------
Net income (loss) $ 1,406 $ 1,160 $ 998 $ 1,991
=============== ================

Pro forma income per share before
cumulative effect of a change in
accounting prinicple (2) $ 0.15 $ 0.16 $ 0.25 $ 0.26
Cumulative effect per share, of a
change in accounting principle,
net of income taxes - - (0.14) -
--------------- ----------------
Net income (loss) per share $ 0.15 $ 0.16 $ 0.11 $ 0.26
=============== ================

Weighted average shares used in
calculating pro forma income per
share:
Fully diluted weighted average
shares 9,192 6,004 9,182 6,355
Additional shares required to
fund distribution to shareholders - 1,309 - 1,309
--------------- ----------------
9,192 7,313 9,182 7,664
=============== ================

(1) Pro forma net income is calculated as if the Company was subject
to income taxes for all periods presented.

(2) Pro forma income per share is computed by dividing pro forma net
income by the fully dilluted weighted average number of shares for the
period, after giving effect to the number of shares that would be
required to be sold at the initial offering price to fund a
distribution to the shareholders of all previously taxed, but
undistributed, S Corporation earnings.

Net income per share assuming income taxes and excluding offering cost
expenses before the cumulative effect of a change in accounting
principle:

Net income (1) $ 1,631 $ 1,183 $ 2,550 $ 2,093

Net income per share:
Basic $ 0.19 $ 0.20 $ 0.29 $ 0.33
Fully diluted $ 0.18 $ 0.20 $ 0.28 $ 0.33

Weighted average shares
outstanding:
Basic 8,776 6,004 8,774 6,355
Fully diluted 9,192 6,004 9,182 6,355

(1) Reflects net income excluding offering expenses and assuming the
Company was subject to income taxes for all periods presented.

Datalink Corporation
Condensed Consolidated Balance Sheets
(In thousands, except share and per share data)

June 30,
2000 December 31,
(preliminary 1999
and unaudited)
--------------- ---------------
Assets
Current assets
Cash and cash equivalents $ 9,551 $ 6,515
Accounts receivable, net 13,146 19,272
Inventories 6,571 9,528
Inventories shipped but not installed 4,138 -
Other current assets 349 361
Deferred income taxes 1,884 427
--------------- ---------------
Total current assets 35,639 36,103
--------------- ---------------

Property and equipment, net 3,331 2,496
Intangibles, net 3,003 3,412
Other assets 66 47
--------------- ---------------
Total assets $42,039 $42,058
=============== ===============

Liabilities and Stockholders' Equity
Current liabilities
Accounts payable $12,673 $13,695
Accrued expenses 2,714 2,809
Income taxes payable 434 257
Note payable to former stockholder,
current portion 705 705
Capital lease obligation, current
portion - 13
Deferred compensation, current portion 34 73
Distribution payable to S corporation
stockholders - 744
Unearned revenue 1,385 -
--------------- ---------------
Total current liabilities 17,945 18,296

Note payable to former stockholder,
less current portion 704 1,409
Deferred income taxes 626 648
--------------- ---------------
Total liabilities 19,275 20,353
--------------- ---------------

Stockholders' equity
Common stock, $.001 par value,
50,000,000 shares authorized,
8,792,043 and 8,772,537 shares
issued and outstanding as of
June 30, 2000 and December 31,
1999, respectively 9 9
Additional paid in capital 18,359 18,213
Retained earnings 4,396 3,483
--------------- ---------------
Total stockholders' equity 22,764 21,705

--------------- ---------------
Total liabilities and
stockholders' equity $42,039 $42,058
=============== ===============

Share RecommendKeepReplyMark as Last ReadRead Replies (1)
Previous 10 Next 10