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Hallo
Meiner meinung nach sollte man STOR beachten!
Hier ein kleiner auzug vom Profile!
StorageNetworks, Inc. has created a global data storage network, allowing its customers to connect their computer systems to the Company`s network to store and access their data in much the same way they obtain and use electricity or telephone service. The Company provides both managed data storage services and professional services. Managed data storage services include storage and management of customers` primary data, tape back-up of customers` data for archival and restoration purposes, and real time copies of customer data at remote sites. Through professional services, the Company assesses, designs and implements data storage environments, addressing customers` primary data needs as well as disaster recovery and business continuity plans. Customers include established enterprises and Internet-based businesses in a wide range of industries, such as financial services, communications, media, retail, wholesale distribution, energy and natural resources, health and education.
Meiner meinung nach sollte man STOR beachten!
Hier ein kleiner auzug vom Profile!
StorageNetworks, Inc. has created a global data storage network, allowing its customers to connect their computer systems to the Company`s network to store and access their data in much the same way they obtain and use electricity or telephone service. The Company provides both managed data storage services and professional services. Managed data storage services include storage and management of customers` primary data, tape back-up of customers` data for archival and restoration purposes, and real time copies of customer data at remote sites. Through professional services, the Company assesses, designs and implements data storage environments, addressing customers` primary data needs as well as disaster recovery and business continuity plans. Customers include established enterprises and Internet-based businesses in a wide range of industries, such as financial services, communications, media, retail, wholesale distribution, energy and natural resources, health and education.
Die Zahlen!
StorageNetworks Announces Fourth-Quarter and Year-End Results
Fourth-Quarter Managed Storage Service Revenues Increase Sequentially by 72%
WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 31, 2001-- Company Adds 47 New Customers in the Fourth Quarter
StorageNetworks, Inc. (Nasdaq: STOR - news), the world`s leading provider of data storage management services, today announced revenues for the fourth quarter ended December 31, 2000 of $21.2 million, a 48% increase over revenues of $14.3 million in the third quarter of 2000 and a 578% increase over revenues of $3.1 million in the fourth quarter of 1999. For the year ended December 31, 2000, StorageNetworks reported total revenues of $48.2 million, compared with revenues of $6.3 million for the year ended December 31, 1999.
For the fourth quarter the company reported EBITDA loss (net loss before interest, taxes, depreciation, amortization and non-cash stock compensation) of $25.6 million, an improvement from third quarter EBITDA loss of $27.5 million. The company also reported a net loss of $33.0 million, or $0.36 per share for the fourth quarter, as compared to a net loss of $33.5 million, or $0.37 per share in the third quarter of 2000.
``I am extremely pleased by our performance in 2000, which was marked by a number of significant accomplishments, continued growth and geographic expansion,`` stated Mr. Peter Bell, StorageNetworks` Chairman, Chief Executive Officer and President. ``During 2000, we increased the number of our customers receiving our world-class storage management services from 16 to over 170. As a result of our proven track record and our proprietary storage services management software, we have become the trusted storage services management provider to companies such as Merrill Lynch, Thomson Investors Network, GlobalNetXchange (the Sears/Oracle online marketplace), Visa USA, Unocal and other customers that have large and complex data storage requirements.``
During the fourth quarter, StorageNetworks added 47 new customers including HMS Host Marriott Corporation, Sharper Image, ABN Amro and MetLife. Average annualized revenue per customer also increased during the quarter to approximately $450,000 from $420,000 in the third quarter, which was driven by the Company`s expansion of its relationships with existing customers such as BestBuy, Lycos and Covisint. StorageNetworks` recently announced STORmanagesm service offering had a successful release in the fourth quarter, with wins at enterprises such as Fleet Boston and WestLB London.
``During the fourth quarter, we posted very strong financial results as evidenced by our revenue growth and margin improvement,`` stated Paul Flanagan, EVP and CFO. ``Our EBITDA loss, operating loss, net loss and loss per share numbers for the fourth quarter all improved from the previous quarter.``
``Twenty percent of our Storage Point of Presence (S-POPsm) data centers were gross margin positive at the end of the quarter, which is ahead of plan,`` continued Flanagan. ``Our innovations in technology and value-added proprietary software have allowed us to maintain our average selling prices in the fourth quarter. Our STORossm operating system enables us to improve utilization of our network and incorporate multiple storage hardware components into our service delivery. This allows us to continue to decrease costs and demonstrates that we can drive profitability through our existing infrastructure. In addition, we successfully completed a follow-on offering during the quarter that, together with our existing cash balance, provides us with the capital necessary to continue to fund our operations towards profitability.``
Additional Financial Highlights for the Fourth Quarter
Managed storage services revenues increased 72% to $16.3 million from $9.5 million in the third quarter.
Gross margin loss improved 55 percentage points, to -33% of fourth quarter revenues from-88% of third quarter revenues.
Days sales outstanding remained solid at 45 days, illustrating the financial strength of the Company`s customer base.
Fourth quarter total revenues generated from our enterprise customers increased in the fourth quarter to 55%.
Successfully completed a follow-on offering that raised $117 million for the Company.
Finished the year with $420 million in cash and marketable securities on hand, including temporarily restricted cash.
``During the fourth quarter, we increased our investment in technology. This investment, combined with our unique network-based delivery model, provides our customers with increased levels of availability and data protection, and significantly reduces complexity in managing their enterprise storage infrastructure. We have proven our ability to deliver while offering customers significant cost savings. With data storage requirements continuing to explode as information becomes the lifeblood of business, our ability to deliver measurable and significant costs savings is extremely powerful as customers look to keep IT spending growth in line with revenue and earnings growth,`` stated Bell. ``Our technology, which puts storage intelligence in the network, is the key differentiator in our leadership position in the storage management services market.``
Operational Highlights for the Fourth Quarter
51 operational S-POP data centers at year end.
Reduced average time to bring a new customer on-line to 35 days.
Rolled out new releases of STORos, the company`s proprietary
storage network operating system, and its Virtual Storage Portalsm (VSPsm) and STORvisionsm storage services management applications that support new underlying storage technologies and improve the ease and efficiency of StorageNetworks` operations and delivery.
Year 2000 Highlights
During 2000, StorageNetworks achieved several corporate milestones including:
Achieved compounded quarterly revenue growth of 66%.
Added over 160 new managed storage services customers.
Increased or maintained our average selling prices each quarter.
Increased our average annualized revenue per customer on a
quarterly basis.
Increased our 12-month backlog from $5.9 million at the beginning of the year to $90 million at the end of the year.
Successfully developed and deployed our Storage Services Management Applications, further defining the storage services market place.
Expanded our geographical presence and delivery through expansion into nine new markets.
Successfully completed two rounds of private financing, an initial public offering and a follow-on offering, raising more than $520 million.
Qualified all major storage vendors for deployment in our Global Data Storagesm Network.
Partnered with industry leaders, including AT&T Hosting, Brocade, COLT Telecom, Compaq, Equinix, Exodus, Hitachi, Network Appliance, Sun, Legato and Veritas.
``During 2000, we continued to successfully execute on our vision to change the way enterprise organizations acquire, implement and manage their storage infrastructure. In 2001, we plan to focus on driving the utilization of our network, building trust within enterprise customers, expanding our business geographically and investing in technological innovation, which we believe we will continue to deliver compelling value to our customers. As the complexity and cost of storage continues to increase, we believe that our services and technology provide customers with a more cost effective, efficient alternative to anything available on the market,`` concluded Mr. Bell.
Annual Meeting of Stockholders
StorageNetworks` first annual meeting of stockholders will be held at Bentley College in Waltham, Massachusetts on May 15, 2001.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Safe Harbor
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including risks relating to the attractiveness of StorageNetworks` storage services provider model to its current and prospective customers, likely variations in quarterly revenues and operating results, demand for services, the ability to attract and retain customers, competition, the ability to deliver managed storage services reliably, the ability to expand StorageNetworks` Global Data Storage Network as planned and to develop new technology, and the ability to operate StorageNetworks` S-POP data centers profitably and to achieve overall profitability, as detailed from time to time in StorageNetworks, Inc.`s filings with the Securities and Exchange Commission. StorageNetworks, Inc. draws the reader`s attention to the factors identified in the StorageNetworks Prospectus dated November 20, 2000 and its quarterly and annual filings filed with the Securities Exchange Commission, including its Form 10-Q for the quarter ended September 30, 2000.
StorageNetworks, Storage Services for the e-Economy, S-POP, Virtual Storage Portal, VSP, STORos, STORmanage, STORvision and Global Data Storage are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
Dec. 31, Dec. 31,
1999 2000
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 13 $ 304,861
Short-term investments 34,802 84,767
Accounts receivable, net 3,167 7,886
Prepaid expenses and other current assets 1,499 10,044
Total current assets 39,481 407,558
Property and equipment, net 25,752 135,867
Restricted cash equivalents 359 32,133
Rights to use fiber optic capacity 900 7,595
Other assets 767 19,460
Total assets $ 67,259 $ 602,613
LIABILITIES AND STOCKHOLDERS` EQUITY
CURRENT LIABILITIES:
Accounts payable $ 3,094 $ 3,746
Accrued expenses 6,082 23,134
Deferred revenue 810 5,938
Capital lease obligations 4,442 36,617
Total current liabilities 14,428 69,435
Capital lease obligations, less current
portion 15,822 94,050
Commitments and contingencies
STOCKHOLDERS` EQUITY:
Series A convertible preferred stock 50 -
Series B convertible preferred stock 102 -
Common stock 245 954
Additional paid-in capital 80,942 601,649
Deferred stock compensation (19,880) (13,754)
Accumulated other comprehensive income - (406)
Accumulated deficit (24,450) (149,315)
Total stockholders` equity 37,009 439,128
Total liabilities and stockholders` equity $ 67,259 $ 602,613
StorageNetworks, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended Year Ended
December 31, December 31,
1999 2000 1999 2000
REVENUES:
Managed storage services
revenues $ 488 $ 16,270 $ 720 $ 30,733
Professional services
revenues 2,246 4,970 3,203 17,485
Equipment revenues 400 -- 2,335 --
Total revenues 3,134 21,240 6,258 48,218
COSTS AND EXPENSES:
Cost of managed storage
services revenues,
excluding deferred
compensation
amortization amounts 5,606 24,249 8,400 72,961
Cost of professional
services revenues,
excluding deferred
compensation
amortization amounts 3,534 3,975 5,343 18,928
Cost of equipment
revenues 302 -- 2,111 --
Sales and marketing,
excluding deferred
compensation
amortization amounts 4,044 18,481 7,304 53,986
General and
administrative,
excluding deferred
compensation
amortization amounts 2,961 5,141 5,558 17,882
Research and development,
excluding deferred
compensation
amortization amounts 615 4,175 1,133 11,872
Amortization of deferred
stock compensation(2) 782 1,228 1,301 5,061
Total costs and expenses 17,844 57,249 31,150 180,690
Loss from operations (14,710) (36,009) (24,892) (132,472)
Interest income 614 5,685 1,371 15,120
Interest expense (314) (2,716) (393) (7,513)
Net loss $ (14,410) $ (33,040) $ (23,914) $(124,865)
Net loss per share--
basic and diluted $ (0.59) $ (0.36) $ (0.98) $ (2.12)
Weighted average common
shares outstanding 24,427 93,038 24,407 58,888
EBITDA (1) $ (12,579) $ (25,591 $ (21,794) $(102,983)
(2) Amortization of deferred
stock compensation
Cost of managed storage
services revenues $ 29 $ 123 $ 71 $ 495
Cost of professional
services revenues 196 73 229 488
Sales and marketing 336 422 603 1,653
General and
administrative 166 104 251 579
Research and development 55 506 147 1,846
$ 782 $ 1,228 $ 1,301 $ 5,061
(1) Net loss before interest, taxes, depreciation, amortization and
non-cash stock compensation.
StorageNetworks Announces Fourth-Quarter and Year-End Results
Fourth-Quarter Managed Storage Service Revenues Increase Sequentially by 72%
WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 31, 2001-- Company Adds 47 New Customers in the Fourth Quarter
StorageNetworks, Inc. (Nasdaq: STOR - news), the world`s leading provider of data storage management services, today announced revenues for the fourth quarter ended December 31, 2000 of $21.2 million, a 48% increase over revenues of $14.3 million in the third quarter of 2000 and a 578% increase over revenues of $3.1 million in the fourth quarter of 1999. For the year ended December 31, 2000, StorageNetworks reported total revenues of $48.2 million, compared with revenues of $6.3 million for the year ended December 31, 1999.
For the fourth quarter the company reported EBITDA loss (net loss before interest, taxes, depreciation, amortization and non-cash stock compensation) of $25.6 million, an improvement from third quarter EBITDA loss of $27.5 million. The company also reported a net loss of $33.0 million, or $0.36 per share for the fourth quarter, as compared to a net loss of $33.5 million, or $0.37 per share in the third quarter of 2000.
``I am extremely pleased by our performance in 2000, which was marked by a number of significant accomplishments, continued growth and geographic expansion,`` stated Mr. Peter Bell, StorageNetworks` Chairman, Chief Executive Officer and President. ``During 2000, we increased the number of our customers receiving our world-class storage management services from 16 to over 170. As a result of our proven track record and our proprietary storage services management software, we have become the trusted storage services management provider to companies such as Merrill Lynch, Thomson Investors Network, GlobalNetXchange (the Sears/Oracle online marketplace), Visa USA, Unocal and other customers that have large and complex data storage requirements.``
During the fourth quarter, StorageNetworks added 47 new customers including HMS Host Marriott Corporation, Sharper Image, ABN Amro and MetLife. Average annualized revenue per customer also increased during the quarter to approximately $450,000 from $420,000 in the third quarter, which was driven by the Company`s expansion of its relationships with existing customers such as BestBuy, Lycos and Covisint. StorageNetworks` recently announced STORmanagesm service offering had a successful release in the fourth quarter, with wins at enterprises such as Fleet Boston and WestLB London.
``During the fourth quarter, we posted very strong financial results as evidenced by our revenue growth and margin improvement,`` stated Paul Flanagan, EVP and CFO. ``Our EBITDA loss, operating loss, net loss and loss per share numbers for the fourth quarter all improved from the previous quarter.``
``Twenty percent of our Storage Point of Presence (S-POPsm) data centers were gross margin positive at the end of the quarter, which is ahead of plan,`` continued Flanagan. ``Our innovations in technology and value-added proprietary software have allowed us to maintain our average selling prices in the fourth quarter. Our STORossm operating system enables us to improve utilization of our network and incorporate multiple storage hardware components into our service delivery. This allows us to continue to decrease costs and demonstrates that we can drive profitability through our existing infrastructure. In addition, we successfully completed a follow-on offering during the quarter that, together with our existing cash balance, provides us with the capital necessary to continue to fund our operations towards profitability.``
Additional Financial Highlights for the Fourth Quarter
Managed storage services revenues increased 72% to $16.3 million from $9.5 million in the third quarter.
Gross margin loss improved 55 percentage points, to -33% of fourth quarter revenues from-88% of third quarter revenues.
Days sales outstanding remained solid at 45 days, illustrating the financial strength of the Company`s customer base.
Fourth quarter total revenues generated from our enterprise customers increased in the fourth quarter to 55%.
Successfully completed a follow-on offering that raised $117 million for the Company.
Finished the year with $420 million in cash and marketable securities on hand, including temporarily restricted cash.
``During the fourth quarter, we increased our investment in technology. This investment, combined with our unique network-based delivery model, provides our customers with increased levels of availability and data protection, and significantly reduces complexity in managing their enterprise storage infrastructure. We have proven our ability to deliver while offering customers significant cost savings. With data storage requirements continuing to explode as information becomes the lifeblood of business, our ability to deliver measurable and significant costs savings is extremely powerful as customers look to keep IT spending growth in line with revenue and earnings growth,`` stated Bell. ``Our technology, which puts storage intelligence in the network, is the key differentiator in our leadership position in the storage management services market.``
Operational Highlights for the Fourth Quarter
51 operational S-POP data centers at year end.
Reduced average time to bring a new customer on-line to 35 days.
Rolled out new releases of STORos, the company`s proprietary
storage network operating system, and its Virtual Storage Portalsm (VSPsm) and STORvisionsm storage services management applications that support new underlying storage technologies and improve the ease and efficiency of StorageNetworks` operations and delivery.
Year 2000 Highlights
During 2000, StorageNetworks achieved several corporate milestones including:
Achieved compounded quarterly revenue growth of 66%.
Added over 160 new managed storage services customers.
Increased or maintained our average selling prices each quarter.
Increased our average annualized revenue per customer on a
quarterly basis.
Increased our 12-month backlog from $5.9 million at the beginning of the year to $90 million at the end of the year.
Successfully developed and deployed our Storage Services Management Applications, further defining the storage services market place.
Expanded our geographical presence and delivery through expansion into nine new markets.
Successfully completed two rounds of private financing, an initial public offering and a follow-on offering, raising more than $520 million.
Qualified all major storage vendors for deployment in our Global Data Storagesm Network.
Partnered with industry leaders, including AT&T Hosting, Brocade, COLT Telecom, Compaq, Equinix, Exodus, Hitachi, Network Appliance, Sun, Legato and Veritas.
``During 2000, we continued to successfully execute on our vision to change the way enterprise organizations acquire, implement and manage their storage infrastructure. In 2001, we plan to focus on driving the utilization of our network, building trust within enterprise customers, expanding our business geographically and investing in technological innovation, which we believe we will continue to deliver compelling value to our customers. As the complexity and cost of storage continues to increase, we believe that our services and technology provide customers with a more cost effective, efficient alternative to anything available on the market,`` concluded Mr. Bell.
Annual Meeting of Stockholders
StorageNetworks` first annual meeting of stockholders will be held at Bentley College in Waltham, Massachusetts on May 15, 2001.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Safe Harbor
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties, including risks relating to the attractiveness of StorageNetworks` storage services provider model to its current and prospective customers, likely variations in quarterly revenues and operating results, demand for services, the ability to attract and retain customers, competition, the ability to deliver managed storage services reliably, the ability to expand StorageNetworks` Global Data Storage Network as planned and to develop new technology, and the ability to operate StorageNetworks` S-POP data centers profitably and to achieve overall profitability, as detailed from time to time in StorageNetworks, Inc.`s filings with the Securities and Exchange Commission. StorageNetworks, Inc. draws the reader`s attention to the factors identified in the StorageNetworks Prospectus dated November 20, 2000 and its quarterly and annual filings filed with the Securities Exchange Commission, including its Form 10-Q for the quarter ended September 30, 2000.
StorageNetworks, Storage Services for the e-Economy, S-POP, Virtual Storage Portal, VSP, STORos, STORmanage, STORvision and Global Data Storage are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
Dec. 31, Dec. 31,
1999 2000
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 13 $ 304,861
Short-term investments 34,802 84,767
Accounts receivable, net 3,167 7,886
Prepaid expenses and other current assets 1,499 10,044
Total current assets 39,481 407,558
Property and equipment, net 25,752 135,867
Restricted cash equivalents 359 32,133
Rights to use fiber optic capacity 900 7,595
Other assets 767 19,460
Total assets $ 67,259 $ 602,613
LIABILITIES AND STOCKHOLDERS` EQUITY
CURRENT LIABILITIES:
Accounts payable $ 3,094 $ 3,746
Accrued expenses 6,082 23,134
Deferred revenue 810 5,938
Capital lease obligations 4,442 36,617
Total current liabilities 14,428 69,435
Capital lease obligations, less current
portion 15,822 94,050
Commitments and contingencies
STOCKHOLDERS` EQUITY:
Series A convertible preferred stock 50 -
Series B convertible preferred stock 102 -
Common stock 245 954
Additional paid-in capital 80,942 601,649
Deferred stock compensation (19,880) (13,754)
Accumulated other comprehensive income - (406)
Accumulated deficit (24,450) (149,315)
Total stockholders` equity 37,009 439,128
Total liabilities and stockholders` equity $ 67,259 $ 602,613
StorageNetworks, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended Year Ended
December 31, December 31,
1999 2000 1999 2000
REVENUES:
Managed storage services
revenues $ 488 $ 16,270 $ 720 $ 30,733
Professional services
revenues 2,246 4,970 3,203 17,485
Equipment revenues 400 -- 2,335 --
Total revenues 3,134 21,240 6,258 48,218
COSTS AND EXPENSES:
Cost of managed storage
services revenues,
excluding deferred
compensation
amortization amounts 5,606 24,249 8,400 72,961
Cost of professional
services revenues,
excluding deferred
compensation
amortization amounts 3,534 3,975 5,343 18,928
Cost of equipment
revenues 302 -- 2,111 --
Sales and marketing,
excluding deferred
compensation
amortization amounts 4,044 18,481 7,304 53,986
General and
administrative,
excluding deferred
compensation
amortization amounts 2,961 5,141 5,558 17,882
Research and development,
excluding deferred
compensation
amortization amounts 615 4,175 1,133 11,872
Amortization of deferred
stock compensation(2) 782 1,228 1,301 5,061
Total costs and expenses 17,844 57,249 31,150 180,690
Loss from operations (14,710) (36,009) (24,892) (132,472)
Interest income 614 5,685 1,371 15,120
Interest expense (314) (2,716) (393) (7,513)
Net loss $ (14,410) $ (33,040) $ (23,914) $(124,865)
Net loss per share--
basic and diluted $ (0.59) $ (0.36) $ (0.98) $ (2.12)
Weighted average common
shares outstanding 24,427 93,038 24,407 58,888
EBITDA (1) $ (12,579) $ (25,591 $ (21,794) $(102,983)
(2) Amortization of deferred
stock compensation
Cost of managed storage
services revenues $ 29 $ 123 $ 71 $ 495
Cost of professional
services revenues 196 73 229 488
Sales and marketing 336 422 603 1,653
General and
administrative 166 104 251 579
Research and development 55 506 147 1,846
$ 782 $ 1,228 $ 1,301 $ 5,061
(1) Net loss before interest, taxes, depreciation, amortization and
non-cash stock compensation.
Epoch Partners Issues Research Note on StorageNetworks
Research Note Highlights Q4 Results
SAN FRANCISCO, Feb. 1 /PRNewswire/ -- Epoch Partners today issued a Research Note analyzing fourth quarter results from StorageNetworks (Nasdaq: STOR - news). The Research Note, issued today by Mark Langner, Senior Analyst for Broadband and IP Data Services, is available for free to investors through the Epoch Web site (www.epoch.com). The following are key highlights included in the Research Note:
-- StorageNetworks posted exceptional fourth-quarter results, beating all
projected financial and operational metrics.
-- The company maintained its 2001 guidance for revenue growth rates and
expense-line item performance.
-- We think the company has a compelling service and value proposition
that continues to show strong customer demand, even in today`s
difficult macroeconomic environment.
Broadband and IP Data Services Research Coverage
Investors can visit Epoch`s Web site for an in-depth analysis of the Broadband and IP Data Services industry and to read research coverage on the following public companies in this sector: 360networks, Akamai Technologies, Covad Communications, Digital Island, Equinix, Exodus Communications, InterNAP, Level 3 Communications, and StorageNetworks.
In addition, investors can be added to the Broadband Services email alert system, which alerts investors to new research in the Broadband Services sector. To be added to this alert system visit http://pluto.sparklist.com/scripts/lyris.pl?join=epochbroadb… . Epoch has also posted video interviews with George Conrades, CEO of Akamai Technologies, and Jay Adelson, CTO and co-founder of Equinix. Full research on these and other companies under coverage by Epoch is available for free to investors at www.epoch.com.
Epoch Partners is a technology-enabled investment bank focused on high-growth companies and electronically connected institutional and individual investors.
The information contained herein is based on sources believed to be reliable but is neither all inclusive nor guaranteed by Epoch Partners. Opinions, if any, reflect our judgment at this time and are subject to change. Epoch Partners does not undertake to advise of changes in its opinion or the information. Epoch Partners may perform or seek to perform investment banking services for the issuers of securities which are the subject of our Research. Most of the companies Epoch Partners follows are emerging growth companies whose securities typically involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in the Epoch Partners Research may be unsuitable for investors depending on their specific investment objectives and financial situation and needs. No report included in the Epoch Partners Research is a recommendation that any particular investor should purchase or sell any particular security in any amount or at all and is not a solicitation of any offer to purchase or sell from or to any particular investor. For additional information that may be available on the securities mentioned, please contact Epoch Partners.
Epoch Partners is a member of the National Association of Securities Dealers, CRD number 103899.
SOURCE: Epoch Partners, Inc.
Research Note Highlights Q4 Results
SAN FRANCISCO, Feb. 1 /PRNewswire/ -- Epoch Partners today issued a Research Note analyzing fourth quarter results from StorageNetworks (Nasdaq: STOR - news). The Research Note, issued today by Mark Langner, Senior Analyst for Broadband and IP Data Services, is available for free to investors through the Epoch Web site (www.epoch.com). The following are key highlights included in the Research Note:
-- StorageNetworks posted exceptional fourth-quarter results, beating all
projected financial and operational metrics.
-- The company maintained its 2001 guidance for revenue growth rates and
expense-line item performance.
-- We think the company has a compelling service and value proposition
that continues to show strong customer demand, even in today`s
difficult macroeconomic environment.
Broadband and IP Data Services Research Coverage
Investors can visit Epoch`s Web site for an in-depth analysis of the Broadband and IP Data Services industry and to read research coverage on the following public companies in this sector: 360networks, Akamai Technologies, Covad Communications, Digital Island, Equinix, Exodus Communications, InterNAP, Level 3 Communications, and StorageNetworks.
In addition, investors can be added to the Broadband Services email alert system, which alerts investors to new research in the Broadband Services sector. To be added to this alert system visit http://pluto.sparklist.com/scripts/lyris.pl?join=epochbroadb… . Epoch has also posted video interviews with George Conrades, CEO of Akamai Technologies, and Jay Adelson, CTO and co-founder of Equinix. Full research on these and other companies under coverage by Epoch is available for free to investors at www.epoch.com.
Epoch Partners is a technology-enabled investment bank focused on high-growth companies and electronically connected institutional and individual investors.
The information contained herein is based on sources believed to be reliable but is neither all inclusive nor guaranteed by Epoch Partners. Opinions, if any, reflect our judgment at this time and are subject to change. Epoch Partners does not undertake to advise of changes in its opinion or the information. Epoch Partners may perform or seek to perform investment banking services for the issuers of securities which are the subject of our Research. Most of the companies Epoch Partners follows are emerging growth companies whose securities typically involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in the Epoch Partners Research may be unsuitable for investors depending on their specific investment objectives and financial situation and needs. No report included in the Epoch Partners Research is a recommendation that any particular investor should purchase or sell any particular security in any amount or at all and is not a solicitation of any offer to purchase or sell from or to any particular investor. For additional information that may be available on the securities mentioned, please contact Epoch Partners.
Epoch Partners is a member of the National Association of Securities Dealers, CRD number 103899.
SOURCE: Epoch Partners, Inc.
Hier die letzte News!
Press Release
StorageNetworks, Sun and Exodus Announce Managed Storage Service Alliance
WALTHAM, Mass., PALO ALTO, Calif. & SANTA CLARA, Calif.--(BUSINESS WIRE)--Feb. 1, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), Sun Microsystems, Inc. (NASDAQ: SUNW - news) and Exodus Communications®, Inc. (NASDAQ: EXDS - news) today announced that they are entering into a Joint Marketing Agreement to co-market managed storage services which will be delivered and hosted at Exodus Internet Data Centers. The new Exodus® Services, powered by StorageNetworks and based on Sun StorEdge(TM)arrays and Sun Enterprise(TM)servers and Sun software, provide an end-to-end enterprise managed storage service to customers.
``Aligning closely with StorageNetworks and Exodus to provide managed storage service offerings supports Sun`s vision of delivering optimal business solutions to our customers that are designed and delivered by experts in a specific technology area,`` said Scott McNealy, CEO of Sun Microsystems. ``StorageNetworks offers one of the industry`s leading technology-enabled data storage management services now delivered by one of the foremost providers in the hosting services space -- Exodus.``
``This alliance allows Exodus to offer Sun-based storage hardware managed by a trusted SSP - StorageNetworks - to our customers,`` said Ellen M. Hancock, chairman and CEO of Exodus. ``This important alliance delivers a highly reliable, secure and scalable storage system architecture for our customers` mission-critical data. Added Hancock, ``StorageNetworks continues to be an important storage service provider partner for Exodus and this agreement will serve to further strengthen this established relationship.``
``Working together with Sun and Exodus gives StorageNetworks a greater ability to deliver world-class data storage management services,`` said Peter Bell, co-founder and CEO of StorageNetworks. ``This alliance ensures that StorageNetworks will continue to offer a winning combination of cutting edge software technology and the highest levels of service, helping to make the Exodus/Sun, powered by StorageNetworks, solution the answer to many of our most demanding customers` storage needs.``
About Exodus Communications
Exodus Communications is the leading provider of complex Internet hosting for enterprises with mission-critical Internet operations. The Company offers sophisticated system and network management solutions, along with technology professional services to provide optimal performance for customers` Web sites. Exodus manages its network infrastructure via a worldwide network of Internet Data Centers (IDCs) located in North America, Europe and Asia Pacific. More information on Exodus can be found at http://www.exodus.net.
About Sun Network Storage
Sun Network Storage was formed by Sun Microsystems in July 1998 and is a recognized multi-billion dollar industry leader in the UNIX® and open systems storage market. Sun is changing the rules in network storage by delivering software and hardware written to an open network architecture. Sun`s commitment to standards enables timely availability of new technology, investment protection for existing technology, and a thriving partner community. The comprehensive Sun StorEdge family of products enables customers to match storage to the application while providing scalable capacity and performance in a ``pay-as-you-grow`` architecture.
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision ``The Network Is The Computer(tm)`` has propelled Sun Microsystems, Inc. (Nasdaq: SUNW - news), to its position as a leading provider of industrial-strength hardware, software and services that power the Internet and allow companies worldwide to dot-com their businesses. With $17.6 billion in annual revenues, Sun can be found in more than 170 countries and on the World Wide Web at http://sun.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major business and government centers worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
This press release may contain forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. These statements are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those risk factors identified in the StorageNetworks, Sun and Exodus quarterly and annual filings with the Securities and Exchange Commission (``SEC``).
Sun, Sun Microsystems, the Sun logo, Sun StorEdge, Sun Enterprise and ``The Network Is The Computer`` are trademarks or registered trademarks of Sun Microsystems, Inc., in the United States and other countries. UNIX is a registered trademark in the United States and other countries, exclusively licensed through X/Open Company Ltd. Exodus Communications and Exodus are trademarks of Exodus Communications, Inc., and are registered in certain jurisdictions. StorageNetworks is a servicemark of StorageNetworks, Inc. All other company, brand and product names contained in this data sheet may be trademarks or registered trademarks of their respective holders. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective companies.
Press Release
StorageNetworks, Sun and Exodus Announce Managed Storage Service Alliance
WALTHAM, Mass., PALO ALTO, Calif. & SANTA CLARA, Calif.--(BUSINESS WIRE)--Feb. 1, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), Sun Microsystems, Inc. (NASDAQ: SUNW - news) and Exodus Communications®, Inc. (NASDAQ: EXDS - news) today announced that they are entering into a Joint Marketing Agreement to co-market managed storage services which will be delivered and hosted at Exodus Internet Data Centers. The new Exodus® Services, powered by StorageNetworks and based on Sun StorEdge(TM)arrays and Sun Enterprise(TM)servers and Sun software, provide an end-to-end enterprise managed storage service to customers.
``Aligning closely with StorageNetworks and Exodus to provide managed storage service offerings supports Sun`s vision of delivering optimal business solutions to our customers that are designed and delivered by experts in a specific technology area,`` said Scott McNealy, CEO of Sun Microsystems. ``StorageNetworks offers one of the industry`s leading technology-enabled data storage management services now delivered by one of the foremost providers in the hosting services space -- Exodus.``
``This alliance allows Exodus to offer Sun-based storage hardware managed by a trusted SSP - StorageNetworks - to our customers,`` said Ellen M. Hancock, chairman and CEO of Exodus. ``This important alliance delivers a highly reliable, secure and scalable storage system architecture for our customers` mission-critical data. Added Hancock, ``StorageNetworks continues to be an important storage service provider partner for Exodus and this agreement will serve to further strengthen this established relationship.``
``Working together with Sun and Exodus gives StorageNetworks a greater ability to deliver world-class data storage management services,`` said Peter Bell, co-founder and CEO of StorageNetworks. ``This alliance ensures that StorageNetworks will continue to offer a winning combination of cutting edge software technology and the highest levels of service, helping to make the Exodus/Sun, powered by StorageNetworks, solution the answer to many of our most demanding customers` storage needs.``
About Exodus Communications
Exodus Communications is the leading provider of complex Internet hosting for enterprises with mission-critical Internet operations. The Company offers sophisticated system and network management solutions, along with technology professional services to provide optimal performance for customers` Web sites. Exodus manages its network infrastructure via a worldwide network of Internet Data Centers (IDCs) located in North America, Europe and Asia Pacific. More information on Exodus can be found at http://www.exodus.net.
About Sun Network Storage
Sun Network Storage was formed by Sun Microsystems in July 1998 and is a recognized multi-billion dollar industry leader in the UNIX® and open systems storage market. Sun is changing the rules in network storage by delivering software and hardware written to an open network architecture. Sun`s commitment to standards enables timely availability of new technology, investment protection for existing technology, and a thriving partner community. The comprehensive Sun StorEdge family of products enables customers to match storage to the application while providing scalable capacity and performance in a ``pay-as-you-grow`` architecture.
About Sun Microsystems, Inc.
Since its inception in 1982, a singular vision ``The Network Is The Computer(tm)`` has propelled Sun Microsystems, Inc. (Nasdaq: SUNW - news), to its position as a leading provider of industrial-strength hardware, software and services that power the Internet and allow companies worldwide to dot-com their businesses. With $17.6 billion in annual revenues, Sun can be found in more than 170 countries and on the World Wide Web at http://sun.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major business and government centers worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
This press release may contain forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. These statements are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those risk factors identified in the StorageNetworks, Sun and Exodus quarterly and annual filings with the Securities and Exchange Commission (``SEC``).
Sun, Sun Microsystems, the Sun logo, Sun StorEdge, Sun Enterprise and ``The Network Is The Computer`` are trademarks or registered trademarks of Sun Microsystems, Inc., in the United States and other countries. UNIX is a registered trademark in the United States and other countries, exclusively licensed through X/Open Company Ltd. Exodus Communications and Exodus are trademarks of Exodus Communications, Inc., and are registered in certain jurisdictions. StorageNetworks is a servicemark of StorageNetworks, Inc. All other company, brand and product names contained in this data sheet may be trademarks or registered trademarks of their respective holders. Other product names mentioned herein may be trademarks and/or registered trademarks of their respective companies.
Ein kleiner Auszug nochmal in Deutsch
StorageNetworks ist der weltweit erste Storage Service Provider (SSP), der sich vollständig auf Speichermanagement-Services fokusiert.
Wir gestalten den Zugriff auf Speicherservices so einfach wie Strom- oder Telefonservices. Internet-basierende Firmen erhalten genauso wie Top-1000-Unternehmen die Möglichkeit, ihre unternehmenskritischen Daten und Informationen einfacher, zuverlässiger und effizienter zu speichern, zu verwalten und darauf zuzugreifen – 24x7, rund um die Uhr.
Dadurch können Sie sich besser auf Ihr Kerngeschäft und umsatzrelevante IT-Projekte konzentrieren.
Peter Bell und Bill Miller, die StorageNetworks 1998 gründeten, hatten erkannt, welche Möglichkeiten sich im Zuge des rasanten Speicherwachstums für solche Services ergeben würden: Der Aufbau einer Infrastruktur, die Daten auf Abruf bereitstellt, ermöglicht Datenzugang, -speicherung und –kontrolle auf der Basis eines Utility-Modells.
Wir entlasten Sie von einer Ihrer kosten- und ressourcenintensivsten IT-Funktionen und entwickeln daraus eine effektive Geschäftsstrategie. Dazu bieten wir Ihnen mit unseren „pay-as-you-go“ Managed Storage Services Zugriff auf nahezu unbegrenzte Speicherkapazitäten und eine sichere Speicher-Infrastruktur, bei denen Sie nur das bezahlen, was Sie tatsächlich verbrauchen.
Und das Beste von allem: Wir sind auf Storage spezialisiert. Das Ergebnis ist eine IT-Infrastruktur, mit der Sie mehr aus Ihrem wichtigsten Gut – Ihren Daten –machen können.
StorageNetworks ist der weltweit erste Storage Service Provider (SSP), der sich vollständig auf Speichermanagement-Services fokusiert.
Wir gestalten den Zugriff auf Speicherservices so einfach wie Strom- oder Telefonservices. Internet-basierende Firmen erhalten genauso wie Top-1000-Unternehmen die Möglichkeit, ihre unternehmenskritischen Daten und Informationen einfacher, zuverlässiger und effizienter zu speichern, zu verwalten und darauf zuzugreifen – 24x7, rund um die Uhr.
Dadurch können Sie sich besser auf Ihr Kerngeschäft und umsatzrelevante IT-Projekte konzentrieren.
Peter Bell und Bill Miller, die StorageNetworks 1998 gründeten, hatten erkannt, welche Möglichkeiten sich im Zuge des rasanten Speicherwachstums für solche Services ergeben würden: Der Aufbau einer Infrastruktur, die Daten auf Abruf bereitstellt, ermöglicht Datenzugang, -speicherung und –kontrolle auf der Basis eines Utility-Modells.
Wir entlasten Sie von einer Ihrer kosten- und ressourcenintensivsten IT-Funktionen und entwickeln daraus eine effektive Geschäftsstrategie. Dazu bieten wir Ihnen mit unseren „pay-as-you-go“ Managed Storage Services Zugriff auf nahezu unbegrenzte Speicherkapazitäten und eine sichere Speicher-Infrastruktur, bei denen Sie nur das bezahlen, was Sie tatsächlich verbrauchen.
Und das Beste von allem: Wir sind auf Storage spezialisiert. Das Ergebnis ist eine IT-Infrastruktur, mit der Sie mehr aus Ihrem wichtigsten Gut – Ihren Daten –machen können.
Trading Spotlight
ADVISORY/ StorageNetworks Executives to Present On Data Storage Management Services
(BUSINESS WIRE)--
Executives from StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will be speaking at conferences throughout February 2001.
StorageNetworks executives are presenting at the following conferences and trade shows during the month of February 2001:
Who: John Clavin, executive vice president of marketing
What: Morgan Keegan System Area Networks Conference
When: February 5, 2001; 2:20 p.m. EST
Where: Waldorf-Astoria, New York, N.Y.
Who: Mark Kincaid, vice president of network engineering
What: e-Commerce Infrastructure Technology Conference
When: February 6, 2001; 8:30 a.m. PST & February 7, 2001;
4:10 p.m. PST
Where: Monterey Conference Center, Monterey, Calif.
Who: Bill Miller, co-founder, CTO and executive vice president
What: Goldman Sachs Technology Investment Symposium
When: February 13, 2001; 10:00 a.m. PST
Where: LaQuinta Resort & Club, LaQuinta, Calif.
Who: Bill Miller, co-founder, CTO and executive vice president
What: Robertson Stephens Technology Conference
When: February 15, 2001; 7:30 a.m. PST
Where: The Palace Hotel, San Francisco, Calif.
StorageNetworks is exhibiting at the following trade shows during the
month of February:
What: Oracle AppsWorld
When: February 19 - 23, 2001
Where: Ernest N. Morial Convention Center, New Orleans, L.A.
For a complete listing of tradeshows and events where StorageNetworks is participating, please visit the Virtual Media Kit and Investor Relations sections on the company`s Web site at http://www.StorageNetworks.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Trip Kucera
781/684-0770
tripk@schwartz-pr.com
(BUSINESS WIRE)--
Executives from StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will be speaking at conferences throughout February 2001.
StorageNetworks executives are presenting at the following conferences and trade shows during the month of February 2001:
Who: John Clavin, executive vice president of marketing
What: Morgan Keegan System Area Networks Conference
When: February 5, 2001; 2:20 p.m. EST
Where: Waldorf-Astoria, New York, N.Y.
Who: Mark Kincaid, vice president of network engineering
What: e-Commerce Infrastructure Technology Conference
When: February 6, 2001; 8:30 a.m. PST & February 7, 2001;
4:10 p.m. PST
Where: Monterey Conference Center, Monterey, Calif.
Who: Bill Miller, co-founder, CTO and executive vice president
What: Goldman Sachs Technology Investment Symposium
When: February 13, 2001; 10:00 a.m. PST
Where: LaQuinta Resort & Club, LaQuinta, Calif.
Who: Bill Miller, co-founder, CTO and executive vice president
What: Robertson Stephens Technology Conference
When: February 15, 2001; 7:30 a.m. PST
Where: The Palace Hotel, San Francisco, Calif.
StorageNetworks is exhibiting at the following trade shows during the
month of February:
What: Oracle AppsWorld
When: February 19 - 23, 2001
Where: Ernest N. Morial Convention Center, New Orleans, L.A.
For a complete listing of tradeshows and events where StorageNetworks is participating, please visit the Virtual Media Kit and Investor Relations sections on the company`s Web site at http://www.StorageNetworks.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Trip Kucera
781/684-0770
tripk@schwartz-pr.com
Investment Thesis
StorageNetworks should be a core portfolio holding for investors interested in the solutions segment of broadband and IP data services. StorageNetworks` goal is simple: Manage corporate data better and cheaper than a company could do so itself. The company leads the developing industry of outsourced data storage, using a revolutionary, proprietary technology tool and first-mover advantage to establish a strong customer base. Investing in STOR sides with our belief that data management is a fast-growing and attractive market opportunity created by the increasing importance of data as a business driver. As the only pure-play Storage Service Provider (SSP), STOR represents a good value for long-term investors.
Company Description
StorageNetworks sells data storage as an outsourced service and operates a global network of storage systems in which it stores, replicates and archives customers` data.
Key Investment Points
Industry Leader: StorageNetworks is a pioneer and leader in providing outsourced data storage services for enterprise and Internet businesses.
Unique and Rapidly Growing Market: IDC and Dataquest estimate that the SSP market will grow from nearly nothing in 1999 to a $5-$8 billion market by 2003.
StorageNetworks Possesses Significant First-Mover Advantage: StorageNetworks has a significant first-mover advantage in this market, attracting key blue chip customers for its services early on.
Significant Barriers to Entry: StorageNetworks has created a proprietary storage management application that is the centerpiece of a service package that is not easily replicated by potential competitors.
Favorable Financial Model: StorageNetworks financial model combines the best of both worlds: recurring revenue streams with significant operating leverage.
Investment Points
Investment Positives:
StorageNetworks Is the Leading Storage Service Provider (SSP): StorageNetworks is a pioneer providing an outsourcing solution for businesses with data storage needs. StorageNetworks uses professional expertise, shared infrastructure, bandwidth and specialized management tools to create a platform that allows companies to move data off their corporate LANs, where it is expensive and complex to manage, and onto Storage Networks` low-cost, scalable, and shared Global Data Storage Network (GDSN) platform.
StorageNetworks Business Sits at the Nexus of Major Industry Trends: The trend toward outsourcing corporate data storage fits neatly within a number of other broadband and IP data services industry trends that support the market for storage services.
The growth of the Internet as a corporate tool; the proliferation of new enterprise-wide applications such as CRM, ERP and email; the evolution of e-commerce; and the adoption of new media applications (streaming media, PDA applications).
The need for that data to be stored, archived and readily available in a strategically advantageous manner.
The growth in outsourced data center usage by traditional and Internet-based businesses and the role those facilities have played in gathering large amounts of data into central "hubs."
The growing availability of low-cost, high-bandwidth connections that allow companies to do business with partners, customers and suppliers in a more virtual environment.
A growing shortage in IT personnel makes it difficult for companies to hire staff to run their own complex storage area networks (SANs) or network attached storage (NAS) systems.
StorageNetworks Addresses a Unique and Rapidly Growing Market: IDC and Dataquest estimate that the market for storage services will grow from nearly zero in 1999 to $5-$8 billion by 2003. Underlying this projection is the increasing amount of corporate data and the increasing complexity of the computer systems needed to store it. Forrester Research predicts storage devices and management costs will grow from 5% today to 17% of enterprises` total IT infrastructure costs by 2003. The majority of that spending is not on hard assets. According to Cahners In-Stat Group, only 9% of storage costs are associated with hardware with the other 91% being spent on long-term data management. According to Enterprise Storage Group, Fortune 1000 corporations, which traditionally saw annual storage growth rates of 35%-40%, are now experiencing 100% annual growth. Web-centric businesses are estimated to be experiencing 400% plus annual growth rates. In such an environment, we believe the economics of outsourcing and the unique service offerings of SSPs will offer substantial value.
StorageNetworks Possesses Significant First-Mover Advantage: As the first pure-play SSP to a new and promising market, StorageNetworks has a significant first-mover advantage over competitors. We believe this position should attract early-adopting blue chip customers seeking high value services. Creating scaleable, high value outsourced storage solutions is difficult and includes deploying the required infrastructure systems and testing various storage devices in unique architectures to establish best practices. StorageNetworks has solved many of the issues of manageability, flexibility and scalability that confront all SSPs.
The Company`s Service Model and Technology Offer Significant Barriers to Entry: StorageNetworks has created a proprietary storage management application that is the centerpiece of its PACS services. Because most storage infrastructure products are new to the market and lack standardized communications protocols, these devices are extremely difficult to manage. To achieve a robust and fault-tolerant storage solution, however, each of these components must have both physical and logical relationships with one another. StorageNetworks` tool dictates management policy across various storage devices and applications for different network architectures based on the customer`s needs or the environment in which the application operates. The development of this tool required extensive R&D by StorageNetworks and would be extremely difficult to replicate. The company`s funding and deployment of a dedicated fiber network, which allows it to offer unique and high value storage solutions, is another significant barrier to entry.
StorageNetworks Has a Favorable Financial Model, if Allowed to Scale Properly: StorageNetworks` financial model is defined by recurring revenue streams and significant operating leverage. We expect customer churn rates to be low because of the high value, mission-critical nature of the services the company provides. StorageNetworks charges a monthly recurring fee based on the storage capacity allocated, so its revenue streams are highly predictable. After StorageNetworks deploys its infrastructure, the company can accommodate more customers and add more storage capacity with limited impact on its operating costs. The result is a financial model that has significant operating leverage if given the opportunity to properly scale. While we have some concerns regarding the company`s high fixed-cost structure, we believe long-term demand for its services will be sufficient enough to achieve a healthy return-on-invested capital.
The Company Has a Strong Management Team: The founders of StorageNetworks are steeped in experience at storage technology companies. Founder and CEO Peter Bell was an early employee at EMC, and founder and CTO Bill Miller holds 11 patents for storage technology from his work at companies such as Phillips Electronics and National Semiconductor
StorageNetworks should be a core portfolio holding for investors interested in the solutions segment of broadband and IP data services. StorageNetworks` goal is simple: Manage corporate data better and cheaper than a company could do so itself. The company leads the developing industry of outsourced data storage, using a revolutionary, proprietary technology tool and first-mover advantage to establish a strong customer base. Investing in STOR sides with our belief that data management is a fast-growing and attractive market opportunity created by the increasing importance of data as a business driver. As the only pure-play Storage Service Provider (SSP), STOR represents a good value for long-term investors.
Company Description
StorageNetworks sells data storage as an outsourced service and operates a global network of storage systems in which it stores, replicates and archives customers` data.
Key Investment Points
Industry Leader: StorageNetworks is a pioneer and leader in providing outsourced data storage services for enterprise and Internet businesses.
Unique and Rapidly Growing Market: IDC and Dataquest estimate that the SSP market will grow from nearly nothing in 1999 to a $5-$8 billion market by 2003.
StorageNetworks Possesses Significant First-Mover Advantage: StorageNetworks has a significant first-mover advantage in this market, attracting key blue chip customers for its services early on.
Significant Barriers to Entry: StorageNetworks has created a proprietary storage management application that is the centerpiece of a service package that is not easily replicated by potential competitors.
Favorable Financial Model: StorageNetworks financial model combines the best of both worlds: recurring revenue streams with significant operating leverage.
Investment Points
Investment Positives:
StorageNetworks Is the Leading Storage Service Provider (SSP): StorageNetworks is a pioneer providing an outsourcing solution for businesses with data storage needs. StorageNetworks uses professional expertise, shared infrastructure, bandwidth and specialized management tools to create a platform that allows companies to move data off their corporate LANs, where it is expensive and complex to manage, and onto Storage Networks` low-cost, scalable, and shared Global Data Storage Network (GDSN) platform.
StorageNetworks Business Sits at the Nexus of Major Industry Trends: The trend toward outsourcing corporate data storage fits neatly within a number of other broadband and IP data services industry trends that support the market for storage services.
The growth of the Internet as a corporate tool; the proliferation of new enterprise-wide applications such as CRM, ERP and email; the evolution of e-commerce; and the adoption of new media applications (streaming media, PDA applications).
The need for that data to be stored, archived and readily available in a strategically advantageous manner.
The growth in outsourced data center usage by traditional and Internet-based businesses and the role those facilities have played in gathering large amounts of data into central "hubs."
The growing availability of low-cost, high-bandwidth connections that allow companies to do business with partners, customers and suppliers in a more virtual environment.
A growing shortage in IT personnel makes it difficult for companies to hire staff to run their own complex storage area networks (SANs) or network attached storage (NAS) systems.
StorageNetworks Addresses a Unique and Rapidly Growing Market: IDC and Dataquest estimate that the market for storage services will grow from nearly zero in 1999 to $5-$8 billion by 2003. Underlying this projection is the increasing amount of corporate data and the increasing complexity of the computer systems needed to store it. Forrester Research predicts storage devices and management costs will grow from 5% today to 17% of enterprises` total IT infrastructure costs by 2003. The majority of that spending is not on hard assets. According to Cahners In-Stat Group, only 9% of storage costs are associated with hardware with the other 91% being spent on long-term data management. According to Enterprise Storage Group, Fortune 1000 corporations, which traditionally saw annual storage growth rates of 35%-40%, are now experiencing 100% annual growth. Web-centric businesses are estimated to be experiencing 400% plus annual growth rates. In such an environment, we believe the economics of outsourcing and the unique service offerings of SSPs will offer substantial value.
StorageNetworks Possesses Significant First-Mover Advantage: As the first pure-play SSP to a new and promising market, StorageNetworks has a significant first-mover advantage over competitors. We believe this position should attract early-adopting blue chip customers seeking high value services. Creating scaleable, high value outsourced storage solutions is difficult and includes deploying the required infrastructure systems and testing various storage devices in unique architectures to establish best practices. StorageNetworks has solved many of the issues of manageability, flexibility and scalability that confront all SSPs.
The Company`s Service Model and Technology Offer Significant Barriers to Entry: StorageNetworks has created a proprietary storage management application that is the centerpiece of its PACS services. Because most storage infrastructure products are new to the market and lack standardized communications protocols, these devices are extremely difficult to manage. To achieve a robust and fault-tolerant storage solution, however, each of these components must have both physical and logical relationships with one another. StorageNetworks` tool dictates management policy across various storage devices and applications for different network architectures based on the customer`s needs or the environment in which the application operates. The development of this tool required extensive R&D by StorageNetworks and would be extremely difficult to replicate. The company`s funding and deployment of a dedicated fiber network, which allows it to offer unique and high value storage solutions, is another significant barrier to entry.
StorageNetworks Has a Favorable Financial Model, if Allowed to Scale Properly: StorageNetworks` financial model is defined by recurring revenue streams and significant operating leverage. We expect customer churn rates to be low because of the high value, mission-critical nature of the services the company provides. StorageNetworks charges a monthly recurring fee based on the storage capacity allocated, so its revenue streams are highly predictable. After StorageNetworks deploys its infrastructure, the company can accommodate more customers and add more storage capacity with limited impact on its operating costs. The result is a financial model that has significant operating leverage if given the opportunity to properly scale. While we have some concerns regarding the company`s high fixed-cost structure, we believe long-term demand for its services will be sufficient enough to achieve a healthy return-on-invested capital.
The Company Has a Strong Management Team: The founders of StorageNetworks are steeped in experience at storage technology companies. Founder and CEO Peter Bell was an early employee at EMC, and founder and CTO Bill Miller holds 11 patents for storage technology from his work at companies such as Phillips Electronics and National Semiconductor
StorageNetworks Names Mike Tardif Executive Vice President, Engineering and Operations
20-Year Enterprise IT Veteran to Oversee Evolution of StorageNetworks` Software Development Technology and Global Data Storage Network
WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 12, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced the promotion of Mike Tardif to executive vice president of engineering and operations. In his new position, Tardif will direct the team responsible for StorageNetworks` software development technology, as well as the lead efforts in the current build-out of the StorageNetworks` Global Data Storage(SM) Network (GDSN). Tardif will continue to report directly to co-founder, Chairman and CEO, Peter Bell.
``Mike has already played a critical role in developing key technology for StorageNetworks` services,`` said Bell. ``As the head of both the engineering and operations groups, Mike will continue to drive this development, concentrating on such key differentiators for StorageNetworks as the Virtual Storage Portal(SM) software, that provides customers with an end-to-end view of their entire, integrated storage infrastructure; STORvision(SM) command and control software; and the STORos(SM) operating system.``
Tardif joined StorageNetworks in January of 2000, from The Goldman Sachs Group, Inc. where he was Vice President of IT Infrastructure. At Goldman Sachs, Tardif was instrumental in bringing control to the computing environment, resulting in lower costs and higher availability of services for Goldman Sachs.
Prior to Goldman Sachs, Tardif founded and served as president and chief technology officer of Xtensible Technologies Corporation, a software systems integration and engineering firm specializing in rapid development and deployment of mission-critical applications for Fortune 100 companies. Prior to founding Xtensible Technologies, Tardif held succeeding levels of technical engineering positions at Digital Equipment Corporation.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks, Virtual Storage Portal, STORos, STORvision and Global Data Storage are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this press release may be trademarks or registered trademarks of their respective holders.
20-Year Enterprise IT Veteran to Oversee Evolution of StorageNetworks` Software Development Technology and Global Data Storage Network
WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 12, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced the promotion of Mike Tardif to executive vice president of engineering and operations. In his new position, Tardif will direct the team responsible for StorageNetworks` software development technology, as well as the lead efforts in the current build-out of the StorageNetworks` Global Data Storage(SM) Network (GDSN). Tardif will continue to report directly to co-founder, Chairman and CEO, Peter Bell.
``Mike has already played a critical role in developing key technology for StorageNetworks` services,`` said Bell. ``As the head of both the engineering and operations groups, Mike will continue to drive this development, concentrating on such key differentiators for StorageNetworks as the Virtual Storage Portal(SM) software, that provides customers with an end-to-end view of their entire, integrated storage infrastructure; STORvision(SM) command and control software; and the STORos(SM) operating system.``
Tardif joined StorageNetworks in January of 2000, from The Goldman Sachs Group, Inc. where he was Vice President of IT Infrastructure. At Goldman Sachs, Tardif was instrumental in bringing control to the computing environment, resulting in lower costs and higher availability of services for Goldman Sachs.
Prior to Goldman Sachs, Tardif founded and served as president and chief technology officer of Xtensible Technologies Corporation, a software systems integration and engineering firm specializing in rapid development and deployment of mission-critical applications for Fortune 100 companies. Prior to founding Xtensible Technologies, Tardif held succeeding levels of technical engineering positions at Digital Equipment Corporation.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks, Virtual Storage Portal, STORos, STORvision and Global Data Storage are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this press release may be trademarks or registered trademarks of their respective holders.
StorageNetworks Ranked as `Ramp Champ` by Forbes ASAP
StorageNetworks Tops the Forbes ASAP List of the Leading 100 Technology, Telecommunications and Biotech Companies of 2000
WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 12, 2000-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of storage management services, announced today that it has been rated second, out of 100 companies, by Forbes ASAP in that publication`s annual ``Ramp Champs`` rankings. In their explanation of StorageNetworks` lofty perch on the list, Forbes ASAP editors pointed to an estimated 506% revenue growth rate for fiscal year 2000, among other industry leading attributes.
This year, Forbes ASAP asked nearly 300 industry analysts to rate 100 technology, telecommunications and biotech companies on four criteria, including: management, finances, market opportunity and competitive position. Forbes ASAP selected the companies that received the highest ratings in these categories, and then ranked those companies again by annual revenue growth. The top twenty companies were then named the 2000 Ramp Champs. The full Forbes ASAP Ramp Champs article can be read at: http://www.forbes.com/asap/2001/0219/094.html.
``Our top position on the Forbes ASAP Ramp Champs list is another significant indicator of the tremendous success that StorageNetworks has enjoyed over the last year,`` said Peter Bell, co-founder, chairman and CEO of StorageNetworks. ``We believe that our managed storage services, and the software tools that give our customers control of those services, are the future of enterprise data storage. Clearly, as evidenced by our position on the Ramp Champs list, the industry is convinced that our vision for the future of storage is right on target.``
In addition to its top listing in the Forbes ASAP Ramp Champs rankings, StorageNetworks was also recently recognized by The Standard and Epoch Partners with inclusion in The Standard 100, the premier stock index tracking the Internet Economy. Additionally, in September of 2000, Red Herring named StorageNetworks as the Best of Venture Market East 1999. For additional information about the above honors, please visit StorageNetworks on the Web at http://www.StorageNetworks.com.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
This press release may contain forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. These statements are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those risk factors identified in the StorageNetworks, quarterly and annual filings with the Securities and Exchange Commission (``SEC``).
StorageNetworks, Virtual Storage Portal and VSP are servicemarks or trademarks of StorageNetworks, Inc. All other company, brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks Tops the Forbes ASAP List of the Leading 100 Technology, Telecommunications and Biotech Companies of 2000
WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 12, 2000-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of storage management services, announced today that it has been rated second, out of 100 companies, by Forbes ASAP in that publication`s annual ``Ramp Champs`` rankings. In their explanation of StorageNetworks` lofty perch on the list, Forbes ASAP editors pointed to an estimated 506% revenue growth rate for fiscal year 2000, among other industry leading attributes.
This year, Forbes ASAP asked nearly 300 industry analysts to rate 100 technology, telecommunications and biotech companies on four criteria, including: management, finances, market opportunity and competitive position. Forbes ASAP selected the companies that received the highest ratings in these categories, and then ranked those companies again by annual revenue growth. The top twenty companies were then named the 2000 Ramp Champs. The full Forbes ASAP Ramp Champs article can be read at: http://www.forbes.com/asap/2001/0219/094.html.
``Our top position on the Forbes ASAP Ramp Champs list is another significant indicator of the tremendous success that StorageNetworks has enjoyed over the last year,`` said Peter Bell, co-founder, chairman and CEO of StorageNetworks. ``We believe that our managed storage services, and the software tools that give our customers control of those services, are the future of enterprise data storage. Clearly, as evidenced by our position on the Ramp Champs list, the industry is convinced that our vision for the future of storage is right on target.``
In addition to its top listing in the Forbes ASAP Ramp Champs rankings, StorageNetworks was also recently recognized by The Standard and Epoch Partners with inclusion in The Standard 100, the premier stock index tracking the Internet Economy. Additionally, in September of 2000, Red Herring named StorageNetworks as the Best of Venture Market East 1999. For additional information about the above honors, please visit StorageNetworks on the Web at http://www.StorageNetworks.com.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
This press release may contain forward-looking statements relating to future events or future financial performance that involve risks and uncertainties. These statements are made pursuant to the safe harbor provisions of Section 21E of the Securities Exchange Act of 1934. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those risk factors identified in the StorageNetworks, quarterly and annual filings with the Securities and Exchange Commission (``SEC``).
StorageNetworks, Virtual Storage Portal and VSP are servicemarks or trademarks of StorageNetworks, Inc. All other company, brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
New StorageNetworks Service Reduces Storage Costs and Simplifies Storage Management for Westdeutsche Landesbank
STORmanage Services Provide Investment Bank with the Software, Expertise and Best Practices to Efficiently Manage Storage Assets in its Data Center
WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 20, 2001-- StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, today announced that it is delivering its new STORmanage(SM) Services to Westdeutsche Landesbank (WestLB), one of Germany`s and Europe`s largest financial institutions. STORmanage Services meet WestLB`s need to reduce costs and simplify its complex data storage environment by providing the software, expertise and storage management best practices to efficiently manage its storage assets in its data center.
As a large enterprise organization, WestLB`s IT group requires a substantial portfolio of software technology and professional expertise to deliver effective data storage services to its internal customers -- the departments or business units it supports. STORmanage Services provide fully-tested, end-to-end engineered solutions that interoperate with WestLB`s existing storage systems to deliver better functionality, availability and visibility at a lower total cost. Since STORmanage Services support multiple storage hardware, software and networking technologies, the service eliminates the need for WestLB to depend on a single technology vendor.
STORmanage Services minimize WestLB`s constant storage management concerns, such as downtime and time-to-market deadlines, by providing a team of focused data storage professionals who proactively manage WestLB`s environment based on customer-defined variables. The ability to establish capacity thresholds on an application-by-application basis gives WestLB more control than it had over its data storage assets.
``StorageNetworks STORmanage Services enable WestLB to provide storage services to each of our internal customers,`` said Graham Bradshaw, global head of IT Infrastructure at WestLB. ``STORmanage Services provide the software and expertise we need to manage, monitor and operate our existing SAN infrastructure. StorageNetworks saves us time and money by coming to our data center and implementing new and cost-effective technologies into our existing environment, to deliver more control and better management of our overall storage environment.``
As part of the STORmanage Service, StorageNetworks provides WestLB with unique storage technologies that centralize storage management functions across WestLB`s multi-vendor environment. StorageNetworks has developed a storage specific operating system, StorageNetworks STORos(SM) operating system, that puts intelligence in the network, not the hardware, and allows StorageNetworks` Global Operations Center (GOC) to monitor and manage WestLB`s data storage environment 24x7. As part of the STORmanage service, StorageNetworks is providing WestLB with its industry leading storage service management (SSM) application, StorageNetworks Virtual Storage Portal(SM) (VSP(SM)) software, which allows WestLB to gain greater control over its data storage resources with an integrated view of its storage environment.
``Today`s budgetary constraints are forcing enterprise companies like WestLB to find more cost-effective ways to manage their important data, keep it safe, and ensure it is available when needed,`` said Bill Miller, co-founder and chief technology officer of StorageNetworks. ``We created STORmanage Services as a way to co-manage our large enterprise customers` existing storage environments, so that they operate as service providers for their internal customers or business units.``
STORmanage Services offer a variety of service options, including STORmanage-SAN, STORmanage-NAS and STORmanage-Backup. Additional STORmanage Services features include:
24x7 monitoring and event management
Hands-on storage operations (storage installation, configuration, change management and troubleshooting)
Engineered, interoperable, scalable solutions
Asset management
Real-time chargeback reporting
Auto-discovery infrastructure topology
End-to-end view of the entire storage environment
Network and system performance measurement
Internal SLA compliance
Capacity utilization trending analysis
About Westdeutsche Landesbank (WestLB)
The WestLB Group is one of the largest financial institutions in Europe, with total assets of over Euro 400 billion and current credit ratings of Aa1 by Moody`s, AA+ by S&P and AAA by IBCA.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks, Inc.`s filings with the Securities and Exchange Commission. StorageNetworks, Inc. draws the reader`s attention to the factors described in its Quarterly Report on Form 10-Q for the period ended June 30, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORmanage, Global Data Storage, STORos, Virtual Storage Portal and VSP are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
STORmanage Services Provide Investment Bank with the Software, Expertise and Best Practices to Efficiently Manage Storage Assets in its Data Center
WALTHAM, Mass.--(BUSINESS WIRE)--Feb. 20, 2001-- StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, today announced that it is delivering its new STORmanage(SM) Services to Westdeutsche Landesbank (WestLB), one of Germany`s and Europe`s largest financial institutions. STORmanage Services meet WestLB`s need to reduce costs and simplify its complex data storage environment by providing the software, expertise and storage management best practices to efficiently manage its storage assets in its data center.
As a large enterprise organization, WestLB`s IT group requires a substantial portfolio of software technology and professional expertise to deliver effective data storage services to its internal customers -- the departments or business units it supports. STORmanage Services provide fully-tested, end-to-end engineered solutions that interoperate with WestLB`s existing storage systems to deliver better functionality, availability and visibility at a lower total cost. Since STORmanage Services support multiple storage hardware, software and networking technologies, the service eliminates the need for WestLB to depend on a single technology vendor.
STORmanage Services minimize WestLB`s constant storage management concerns, such as downtime and time-to-market deadlines, by providing a team of focused data storage professionals who proactively manage WestLB`s environment based on customer-defined variables. The ability to establish capacity thresholds on an application-by-application basis gives WestLB more control than it had over its data storage assets.
``StorageNetworks STORmanage Services enable WestLB to provide storage services to each of our internal customers,`` said Graham Bradshaw, global head of IT Infrastructure at WestLB. ``STORmanage Services provide the software and expertise we need to manage, monitor and operate our existing SAN infrastructure. StorageNetworks saves us time and money by coming to our data center and implementing new and cost-effective technologies into our existing environment, to deliver more control and better management of our overall storage environment.``
As part of the STORmanage Service, StorageNetworks provides WestLB with unique storage technologies that centralize storage management functions across WestLB`s multi-vendor environment. StorageNetworks has developed a storage specific operating system, StorageNetworks STORos(SM) operating system, that puts intelligence in the network, not the hardware, and allows StorageNetworks` Global Operations Center (GOC) to monitor and manage WestLB`s data storage environment 24x7. As part of the STORmanage service, StorageNetworks is providing WestLB with its industry leading storage service management (SSM) application, StorageNetworks Virtual Storage Portal(SM) (VSP(SM)) software, which allows WestLB to gain greater control over its data storage resources with an integrated view of its storage environment.
``Today`s budgetary constraints are forcing enterprise companies like WestLB to find more cost-effective ways to manage their important data, keep it safe, and ensure it is available when needed,`` said Bill Miller, co-founder and chief technology officer of StorageNetworks. ``We created STORmanage Services as a way to co-manage our large enterprise customers` existing storage environments, so that they operate as service providers for their internal customers or business units.``
STORmanage Services offer a variety of service options, including STORmanage-SAN, STORmanage-NAS and STORmanage-Backup. Additional STORmanage Services features include:
24x7 monitoring and event management
Hands-on storage operations (storage installation, configuration, change management and troubleshooting)
Engineered, interoperable, scalable solutions
Asset management
Real-time chargeback reporting
Auto-discovery infrastructure topology
End-to-end view of the entire storage environment
Network and system performance measurement
Internal SLA compliance
Capacity utilization trending analysis
About Westdeutsche Landesbank (WestLB)
The WestLB Group is one of the largest financial institutions in Europe, with total assets of over Euro 400 billion and current credit ratings of Aa1 by Moody`s, AA+ by S&P and AAA by IBCA.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks, Inc.`s filings with the Securities and Exchange Commission. StorageNetworks, Inc. draws the reader`s attention to the factors described in its Quarterly Report on Form 10-Q for the period ended June 30, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORmanage, Global Data Storage, STORos, Virtual Storage Portal and VSP are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
StorageNetworks shares tumble 19 pct after lock-up expires
BOSTON, Feb 20 (Reuters) - Shares of StorageNetworks. Inc. (NasdaqNM:STOR - news), which provides data storage management services, tumbled 19 percent on Tuesday after the lock-up period for insiders to sell shares expired.
Shares of StorageNetworks closed at $16-3/4, near a year-low of $16-8/16, on Nasdaq trading volume of about 3.2 million shares. Usually set at 180 days after the start of trading, the lock-up period prevents company insiders from selling their shares.
The decline in the company`s share price came as Westdeutsche Landesbank Girozentrale , Germany`s largest public bank, agreed to buy storage management services from the start-up company located in Waltham, Mass.
StorageNetworks Chairman Peter Bell, whose company provides storage capacity like a utility delivers electricity, said corporations are looking for ways to reduce the complexity and cost of their data-storage infrastructure as they cut information technology spending.
``I would rank it as a sizable deal,`` Bell told Reuters. He declined, however, to give any specifics about the terms of the agreement with WestLB.
Shares of the company soared 234 percent to $90-1/4 during their first day of trading last June. The stock has plummeted since hitting a year-high of $154-4/16.
StorageNetworks recorded a net loss of $124.9 million on revenue of $48.2 million last year. The company ended the year with $304.9 million in cash and cash equivalents.
BOSTON, Feb 20 (Reuters) - Shares of StorageNetworks. Inc. (NasdaqNM:STOR - news), which provides data storage management services, tumbled 19 percent on Tuesday after the lock-up period for insiders to sell shares expired.
Shares of StorageNetworks closed at $16-3/4, near a year-low of $16-8/16, on Nasdaq trading volume of about 3.2 million shares. Usually set at 180 days after the start of trading, the lock-up period prevents company insiders from selling their shares.
The decline in the company`s share price came as Westdeutsche Landesbank Girozentrale , Germany`s largest public bank, agreed to buy storage management services from the start-up company located in Waltham, Mass.
StorageNetworks Chairman Peter Bell, whose company provides storage capacity like a utility delivers electricity, said corporations are looking for ways to reduce the complexity and cost of their data-storage infrastructure as they cut information technology spending.
``I would rank it as a sizable deal,`` Bell told Reuters. He declined, however, to give any specifics about the terms of the agreement with WestLB.
Shares of the company soared 234 percent to $90-1/4 during their first day of trading last June. The stock has plummeted since hitting a year-high of $154-4/16.
StorageNetworks recorded a net loss of $124.9 million on revenue of $48.2 million last year. The company ended the year with $304.9 million in cash and cash equivalents.
EMC lowers growth range for 2001
ZDNet, Staff
02/22/01
Warnings Raise Hurdle for STOR
By Mark Langner
Managing Director, Senior Analyst
Todd Fernandez, Bert Bangayan
Associate Analyst, Associate
Earnings warnings from data storage infrastructure providers -- such as the one issued Thursday by bellwether EMC -- are likely to keep pressure on shares of StorageNetworks (STOR), while raising the company`s execution hurdle for the second half of 2001.
We continue to believe the fundamentals of the data storage industry are sound and that the company will meet its second quarter estimates. However, warnings from EMC and Brocade indicate a slowdown in the overall investment in complex storage infrastructure by both enterprises and service providers. This pressure will likely carry over into the storage services segment, potentially increasing customer acquisition costs and extending sales cycles for StorageNetworks -- and that may translate into weaker than anticipated growth in the second half of the year.
On February 12, we wrote that Emulex`s earnings warning was likely to be the first of many to come out of this once high-flying segment. At that time, we wrote: "The market is now going to wait for Brocade, EMC, and Network Appliance to warn; and, right or wrong, investors will put StorageNetworks into that basket as well." This is exactly what has happened, and the shares of STOR have been under substantial pressure -- dropping from the low 20s to around 15.
We reiterate the point we made in our earlier note: StorageNetworks serves the same customer segment as the infrastructure providers issuing earnings warnings. Customers of EMC and Brocade simply opt to have StorageNetworks deploy and manage that infrastructure rather than doing it themselves. We believe the market will continue to view the news from data storage infrastructure providers as leading indicators for StorageNetworks. In our opinion, this perspective (along with lock-up concerns) is likely to overhang the stock (which still maintains a relatively premium valuation) thereby limiting the near-term potential upside of STOR shares.
ZDNet, Staff
02/22/01
Warnings Raise Hurdle for STOR
By Mark Langner
Managing Director, Senior Analyst
Todd Fernandez, Bert Bangayan
Associate Analyst, Associate
Earnings warnings from data storage infrastructure providers -- such as the one issued Thursday by bellwether EMC -- are likely to keep pressure on shares of StorageNetworks (STOR), while raising the company`s execution hurdle for the second half of 2001.
We continue to believe the fundamentals of the data storage industry are sound and that the company will meet its second quarter estimates. However, warnings from EMC and Brocade indicate a slowdown in the overall investment in complex storage infrastructure by both enterprises and service providers. This pressure will likely carry over into the storage services segment, potentially increasing customer acquisition costs and extending sales cycles for StorageNetworks -- and that may translate into weaker than anticipated growth in the second half of the year.
On February 12, we wrote that Emulex`s earnings warning was likely to be the first of many to come out of this once high-flying segment. At that time, we wrote: "The market is now going to wait for Brocade, EMC, and Network Appliance to warn; and, right or wrong, investors will put StorageNetworks into that basket as well." This is exactly what has happened, and the shares of STOR have been under substantial pressure -- dropping from the low 20s to around 15.
We reiterate the point we made in our earlier note: StorageNetworks serves the same customer segment as the infrastructure providers issuing earnings warnings. Customers of EMC and Brocade simply opt to have StorageNetworks deploy and manage that infrastructure rather than doing it themselves. We believe the market will continue to view the news from data storage infrastructure providers as leading indicators for StorageNetworks. In our opinion, this perspective (along with lock-up concerns) is likely to overhang the stock (which still maintains a relatively premium valuation) thereby limiting the near-term potential upside of STOR shares.
leute kauft euch stor,es ist ein unique!!!!!
ADVISORY/StorageNetworks Executives to Present On Data Storage Management Services
(BUSINESS WIRE)--
Executives from StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will be speaking at and attending conferences and tradeshows throughout March 2001.
StorageNetworks will be presenting at the following conferences during the month of March 2001:
Who: John Clavin, Executive Vice President, Marketing
What: Lehman Brothers Storage Conference
When: Monday, March 8; 10:45-11:45 a.m. PST
Where: Mark Hopkins Inter-Continental Hotel, San Francisco,
Calif.
Who: Chuck Eberl, Director, Vision and Voice
What: Software and Information Industry Association (SIIA)
Summit
When: Monday, March 12; 9:15-10:30 a.m. PST
Where: Hotel Del Coronado, San Diego, Calif.
Who: John Clavin, Executive Vice President, Marketing
What: Morgan Stanley Global Communications Conference
When: Thursday, March 29; 5:00 p.m. EST
Where: Sheraton New York Hotel, New York, N.Y.
StorageNetworks is exhibiting at the following tradeshows during
the month of March:
What: Compaq National Storage Days
When: March 5-7, 2001
Where: Colorado Springs, Colo.
What: Exodus Internet Community Expo 2001
When: March 14, 2001
Where: Round Rock, Texas
What: Exodus Internet Community Expo 2001
When: March 28, 2001
Where: Dallas, Texas
For a complete listing of tradeshows and events where StorageNetworks is participating, please visit the Virtual Media Kit and Investor Relations sections on the company`s Web site at http://www.StorageNetworks.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
(BUSINESS WIRE)--
Executives from StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will be speaking at and attending conferences and tradeshows throughout March 2001.
StorageNetworks will be presenting at the following conferences during the month of March 2001:
Who: John Clavin, Executive Vice President, Marketing
What: Lehman Brothers Storage Conference
When: Monday, March 8; 10:45-11:45 a.m. PST
Where: Mark Hopkins Inter-Continental Hotel, San Francisco,
Calif.
Who: Chuck Eberl, Director, Vision and Voice
What: Software and Information Industry Association (SIIA)
Summit
When: Monday, March 12; 9:15-10:30 a.m. PST
Where: Hotel Del Coronado, San Diego, Calif.
Who: John Clavin, Executive Vice President, Marketing
What: Morgan Stanley Global Communications Conference
When: Thursday, March 29; 5:00 p.m. EST
Where: Sheraton New York Hotel, New York, N.Y.
StorageNetworks is exhibiting at the following tradeshows during
the month of March:
What: Compaq National Storage Days
When: March 5-7, 2001
Where: Colorado Springs, Colo.
What: Exodus Internet Community Expo 2001
When: March 14, 2001
Where: Round Rock, Texas
What: Exodus Internet Community Expo 2001
When: March 28, 2001
Where: Dallas, Texas
For a complete listing of tradeshows and events where StorageNetworks is participating, please visit the Virtual Media Kit and Investor Relations sections on the company`s Web site at http://www.StorageNetworks.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks to Implement Hitachi Data Systems Technology Into Global Data Storage Network
WALTHAM, Mass. and SANTA CLARA, Calif.--(BUSINESS WIRE)--March 13, 2001--
Leading Storage Technology Companies Forge Strategic Relationship
in Sales and Marketing Initiatives to Drive Market Penetration in
Enterprise Data Storage Space
StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, and Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd. (NYSE:HIT - news), a leading provider of business solutions for the world`s most information-intensive corporations, today announced that the two companies have signed a strategic agreement. Under this agreement, StorageNetworks will implement the Hitachi Freedom Storage(TM) Lightning 9900(TM) system into its Global Data Storage(SM) Network (GDSN). The Lightning 9900 incorporates a unique internal crossbar-switch architecture that can scale as high as 37 terabytes in a single system, while maintaining industry-leading levels of performance and availability.
The relationship with Hitachi further broadens StorageNetworks multi-vendor support strategy. The Hitachi technology incorporated into StorageNetworks managed storage services is another step in assuring enterprise customers that the data storage solutions they need to meet their application and performance requirements can be found at StorageNetworks.
``StorageNetworks and Hitachi Data Systems share a commitment to helping today`s dynamic enterprise businesses make the most of technology innovation,`` said David Roberson, chief operating officer of Hitachi Data Systems. ``We are committed to making StorageNetworks a successful Hitachi partner. The storage service provider (SSP) market space is an exciting place to be and we are pleased that StorageNetworks has recognized that our products and solutions can help them continue to succeed in this arena.``
``By layering StorageNetworks expertise and software technology on top of Hitachi`s leading data storage products, we will enable our customers to combat their most common data storage challenges such as poor asset utilization, capacity planning and/or the resulting low-availability of storage,`` said Bill Miller, co-founder and chief technology officer of StorageNetworks. ``Furthermore, we will enable our customers to free up their most precious IT resource -- people -- to concentrate on activities that are revenue generating -- activities directly affecting their bottom line.``
StorageNetworks Virtual Storage Portal(SM) (VSP(SM)) software, STORvision(SM) command and control software and STORos(SM) operating system
The Virtual Storage Portal software provides customers with an end-to-end view of the entire, integrated storage infrastructure. From the network, hosts, devices and processes associated with backup and data transfer, the VSP software enables users to focus on only what`s important to them -- their data and applications -- not the storage resources underneath. Through the unique Web-based software, StorageNetworks` customers can monitor and ensure backups are running successfully, provision additional storage capacity, and, most importantly, verify the performance of StorageNetworks against the SLA for its services.
STORvision command and control software is an event management system. It is used for internal purposes, to better manage events and workflow. Better control of workflow means more efficient use of storage resources and cost savings for customers.
The STORos operating system is a layer of code under the VSP software, API and STORvision software. It ties the elements of the infrastructure together to allow communication between StorageNetworks` customers, StorageNetworks itself and the physical environment that makes up the GDSN. Though the STORos operating system is a lower layer code (i.e., no user interface), it eliminates complexity for the customer, and enables them to focus on the benefits of the storage infrastructure, not on the infrastructure itself.
About Hitachi Data Systems
Committed to helping customers exploit the value of information technology for success in the Internet economy, Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd. (NYSE:HIT - news), is a leading provider of business solutions for the world`s most information-intensive corporations. For further information on Hitachi Data Systems, access http://www.hds.com.
About Hitachi, Ltd.
Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world`s leading global electronics companies, with fiscal 1999 (ended March 31, 2000) consolidated sales of 8,001 billion yen ($75.5 billion(1)). The company manufactures and markets a wide range of products, including computers, semiconductors, consumer products and power and industrial equipment. For more information on Hitachi, Ltd., please visit Hitachi`s Web site at http://www.hitachi.co.jp.
(1) At an exchange rate of 106 yen to the dollar.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks, Inc.`s filings with the Securities and Exchange Commission. StorageNetworks, Inc. draws the reader`s attention to the risk factors described in its prospectus dated November 20, 2000 and its quarterly and annual filings filed with the Securities Exchange Commission, including its Form 10-Q for the quarter ended September 30, 2000.
Hitachi Data Systems is registered with the U.S. Patent and Trademark Office as a trademark and service mark of Hitachi, Ltd. Freedom Storage and Lightning 9900 are trademarks of Hitachi Data Systems. StorageNetworks, Global Data Storage, Virtual Storage Portal, VSP, STORos and STORvision are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
WALTHAM, Mass. and SANTA CLARA, Calif.--(BUSINESS WIRE)--March 13, 2001--
Leading Storage Technology Companies Forge Strategic Relationship
in Sales and Marketing Initiatives to Drive Market Penetration in
Enterprise Data Storage Space
StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, and Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd. (NYSE:HIT - news), a leading provider of business solutions for the world`s most information-intensive corporations, today announced that the two companies have signed a strategic agreement. Under this agreement, StorageNetworks will implement the Hitachi Freedom Storage(TM) Lightning 9900(TM) system into its Global Data Storage(SM) Network (GDSN). The Lightning 9900 incorporates a unique internal crossbar-switch architecture that can scale as high as 37 terabytes in a single system, while maintaining industry-leading levels of performance and availability.
The relationship with Hitachi further broadens StorageNetworks multi-vendor support strategy. The Hitachi technology incorporated into StorageNetworks managed storage services is another step in assuring enterprise customers that the data storage solutions they need to meet their application and performance requirements can be found at StorageNetworks.
``StorageNetworks and Hitachi Data Systems share a commitment to helping today`s dynamic enterprise businesses make the most of technology innovation,`` said David Roberson, chief operating officer of Hitachi Data Systems. ``We are committed to making StorageNetworks a successful Hitachi partner. The storage service provider (SSP) market space is an exciting place to be and we are pleased that StorageNetworks has recognized that our products and solutions can help them continue to succeed in this arena.``
``By layering StorageNetworks expertise and software technology on top of Hitachi`s leading data storage products, we will enable our customers to combat their most common data storage challenges such as poor asset utilization, capacity planning and/or the resulting low-availability of storage,`` said Bill Miller, co-founder and chief technology officer of StorageNetworks. ``Furthermore, we will enable our customers to free up their most precious IT resource -- people -- to concentrate on activities that are revenue generating -- activities directly affecting their bottom line.``
StorageNetworks Virtual Storage Portal(SM) (VSP(SM)) software, STORvision(SM) command and control software and STORos(SM) operating system
The Virtual Storage Portal software provides customers with an end-to-end view of the entire, integrated storage infrastructure. From the network, hosts, devices and processes associated with backup and data transfer, the VSP software enables users to focus on only what`s important to them -- their data and applications -- not the storage resources underneath. Through the unique Web-based software, StorageNetworks` customers can monitor and ensure backups are running successfully, provision additional storage capacity, and, most importantly, verify the performance of StorageNetworks against the SLA for its services.
STORvision command and control software is an event management system. It is used for internal purposes, to better manage events and workflow. Better control of workflow means more efficient use of storage resources and cost savings for customers.
The STORos operating system is a layer of code under the VSP software, API and STORvision software. It ties the elements of the infrastructure together to allow communication between StorageNetworks` customers, StorageNetworks itself and the physical environment that makes up the GDSN. Though the STORos operating system is a lower layer code (i.e., no user interface), it eliminates complexity for the customer, and enables them to focus on the benefits of the storage infrastructure, not on the infrastructure itself.
About Hitachi Data Systems
Committed to helping customers exploit the value of information technology for success in the Internet economy, Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd. (NYSE:HIT - news), is a leading provider of business solutions for the world`s most information-intensive corporations. For further information on Hitachi Data Systems, access http://www.hds.com.
About Hitachi, Ltd.
Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world`s leading global electronics companies, with fiscal 1999 (ended March 31, 2000) consolidated sales of 8,001 billion yen ($75.5 billion(1)). The company manufactures and markets a wide range of products, including computers, semiconductors, consumer products and power and industrial equipment. For more information on Hitachi, Ltd., please visit Hitachi`s Web site at http://www.hitachi.co.jp.
(1) At an exchange rate of 106 yen to the dollar.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of storage management services and an innovator that is making managed data storage services as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently then ever before. StorageNetworks services let customers focus on building their business, not their data center, allowing them to achieve greater flexibility, quicker time to market, high levels of reliability and security, and lower operating costs. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks, Inc.`s filings with the Securities and Exchange Commission. StorageNetworks, Inc. draws the reader`s attention to the risk factors described in its prospectus dated November 20, 2000 and its quarterly and annual filings filed with the Securities Exchange Commission, including its Form 10-Q for the quarter ended September 30, 2000.
Hitachi Data Systems is registered with the U.S. Patent and Trademark Office as a trademark and service mark of Hitachi, Ltd. Freedom Storage and Lightning 9900 are trademarks of Hitachi Data Systems. StorageNetworks, Global Data Storage, Virtual Storage Portal, VSP, STORos and STORvision are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
REPEAT/Jeff Keohane Joins StorageNetworks as Executive Vice President, Business Operations
Technology Business Veteran Brings Significant Experience In Building And Scaling Organizations That Deliver Services To Large Enterprises
WALTHAM, Mass.--(BUSINESS WIRE)--March 21, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of storage management services, today announced that Jeff Keohane has joined the company as executive vice president of business operations. In his new position, Keohane will manage StorageNetworks` service lines of business, which today include StorageNetworks PACS(SM), STORmanage(SM) and Professional Services. Keohane will be charged with building relationships with key customers and partners as well as developing new service offerings that are built on top of StorageNetworks` innovative technology and software, including the Global Data Storage(SM) Network (GDSN), Virtual Storage Portal(SM) (VSP(SM)) software, the STORos(SM) storage operating system and STORvision(SM) command and control software. Keohane will report directly to Peter Bell, co-founder, chairman and CEO of StorageNetworks.
``Jeff`s significant experience in building and scaling organizations that deliver services to large enterprises will be a huge asset as StorageNetworks continues to deliver a cost effective, highly available alternative for our customers to manage their complex storage environments,`` said Bell. ``We are delighted to add Jeff to the executive management team.``
Keohane comes to StorageNetworks from Comdisco, Inc. in Chicago, Illinois, where he spent more than seven years in various senior management positions. Most recently, Keohane served Comdisco as senior vice president and led the Technology Services division as its president. In these roles, Keohane managed a team of over 1,400 people, with total revenue in excess of $600 million. While at Comdisco, Keohane managed company operations in North America and Europe including business continuity, storage, web hosting and network services.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of storage management services and a technology innovator that is making enterprise-class data storage as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently than ever before. StorageNetworks services let customers drive significant and measurable costs out of their infrastructure while achieving higher levels of manageability, reliability, flexibility, availability and security. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks, Global Data Storage, Virtual Storage Portal, VSP, PACS, STORmanage and STORos are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
Director, Corporate Communications
StorageNetworks, Inc.
781-434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
Director, Investor Relations
StorageNetworks, Inc.
781-434-6373
erica.smith@storagenetworks.com
or
Ben Conrad
Schwartz Communications
781-684-0770
storagenetworks@schwartz-pr.com
Technology Business Veteran Brings Significant Experience In Building And Scaling Organizations That Deliver Services To Large Enterprises
WALTHAM, Mass.--(BUSINESS WIRE)--March 21, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of storage management services, today announced that Jeff Keohane has joined the company as executive vice president of business operations. In his new position, Keohane will manage StorageNetworks` service lines of business, which today include StorageNetworks PACS(SM), STORmanage(SM) and Professional Services. Keohane will be charged with building relationships with key customers and partners as well as developing new service offerings that are built on top of StorageNetworks` innovative technology and software, including the Global Data Storage(SM) Network (GDSN), Virtual Storage Portal(SM) (VSP(SM)) software, the STORos(SM) storage operating system and STORvision(SM) command and control software. Keohane will report directly to Peter Bell, co-founder, chairman and CEO of StorageNetworks.
``Jeff`s significant experience in building and scaling organizations that deliver services to large enterprises will be a huge asset as StorageNetworks continues to deliver a cost effective, highly available alternative for our customers to manage their complex storage environments,`` said Bell. ``We are delighted to add Jeff to the executive management team.``
Keohane comes to StorageNetworks from Comdisco, Inc. in Chicago, Illinois, where he spent more than seven years in various senior management positions. Most recently, Keohane served Comdisco as senior vice president and led the Technology Services division as its president. In these roles, Keohane managed a team of over 1,400 people, with total revenue in excess of $600 million. While at Comdisco, Keohane managed company operations in North America and Europe including business continuity, storage, web hosting and network services.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of storage management services and a technology innovator that is making enterprise-class data storage as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently than ever before. StorageNetworks services let customers drive significant and measurable costs out of their infrastructure while achieving higher levels of manageability, reliability, flexibility, availability and security. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks, Global Data Storage, Virtual Storage Portal, VSP, PACS, STORmanage and STORos are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
Director, Corporate Communications
StorageNetworks, Inc.
781-434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
Director, Investor Relations
StorageNetworks, Inc.
781-434-6373
erica.smith@storagenetworks.com
or
Ben Conrad
Schwartz Communications
781-684-0770
storagenetworks@schwartz-pr.com
StorageNetworks Hosts Live Webcast to Discuss STORmanage Storage Services
Storage Management Service Reduces Storage Costs and Simplifies Storage Management
WALTHAM, Mass.--(BUSINESS WIRE)--March 26, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will host a live Webcast on March 29, 2001, at Noon (EST). Stan Nowak, senior director of STORmanage(SM) services, will discuss the offering in detail.
STORmanage services apply StorageNetworks` software and best practices to a customer`s existing multi-vendor storage infrastructure. These services provide StorageNetworks customers with increased control and optimal utilization of complex storage environments.
Participants in the Webcast will have an opportunity to ask questions via email. The live Webcast will be available and accessible from the StorageNetworks Web site at http://www.StorageNetworks.com/." target="_blank" rel="nofollow ugc noopener">http://www.StorageNetworks.com/.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and a technology innovator that is making enterprise-class data storage as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently than ever before. StorageNetworks services let customers drive significant and measurable costs out of their infrastructure while achieving higher levels of manageability, reliability, flexibility, availability and security. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks and STORmanage are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
StorageNetworks, Inc.
781-434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
StorageNetworks, Inc.
781-434-6373
erica.smith@storagenetworks.com
or
Barry Mason
Schwartz Communications, Inc.
781-684-0770
bmason@schwartz-pr.com
Storage Management Service Reduces Storage Costs and Simplifies Storage Management
WALTHAM, Mass.--(BUSINESS WIRE)--March 26, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will host a live Webcast on March 29, 2001, at Noon (EST). Stan Nowak, senior director of STORmanage(SM) services, will discuss the offering in detail.
STORmanage services apply StorageNetworks` software and best practices to a customer`s existing multi-vendor storage infrastructure. These services provide StorageNetworks customers with increased control and optimal utilization of complex storage environments.
Participants in the Webcast will have an opportunity to ask questions via email. The live Webcast will be available and accessible from the StorageNetworks Web site at http://www.StorageNetworks.com/." target="_blank" rel="nofollow ugc noopener">http://www.StorageNetworks.com/.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and a technology innovator that is making enterprise-class data storage as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently than ever before. StorageNetworks services let customers drive significant and measurable costs out of their infrastructure while achieving higher levels of manageability, reliability, flexibility, availability and security. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks and STORmanage are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
StorageNetworks, Inc.
781-434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
StorageNetworks, Inc.
781-434-6373
erica.smith@storagenetworks.com
or
Barry Mason
Schwartz Communications, Inc.
781-684-0770
bmason@schwartz-pr.com
StorageNetworks Hosts Live Webcast to Discuss STORmanage Storage Services
Storage Management Service Reduces Storage Costs and Simplifies Storage Management
WALTHAM, Mass.--(BUSINESS WIRE)--March 26, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will host a live Webcast on March 29, 2001, at Noon (EST). Stan Nowak, senior director of STORmanage(SM) services, will discuss the offering in detail.
STORmanage services apply StorageNetworks` software and best practices to a customer`s existing multi-vendor storage infrastructure. These services provide StorageNetworks customers with increased control and optimal utilization of complex storage environments.
Participants in the Webcast will have an opportunity to ask questions via email. The live Webcast will be available and accessible from the StorageNetworks Web site at http://www.StorageNetworks.com/." target="_blank" rel="nofollow ugc noopener">http://www.StorageNetworks.com/.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and a technology innovator that is making enterprise-class data storage as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently than ever before. StorageNetworks services let customers drive significant and measurable costs out of their infrastructure while achieving higher levels of manageability, reliability, flexibility, availability and security. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks and STORmanage are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
StorageNetworks, Inc.
781-434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
StorageNetworks, Inc.
781-434-6373
erica.smith@storagenetworks.com
or
Barry Mason
Schwartz Communications, Inc.
781-684-0770
bmason@schwartz-pr.com
Storage Management Service Reduces Storage Costs and Simplifies Storage Management
WALTHAM, Mass.--(BUSINESS WIRE)--March 26, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will host a live Webcast on March 29, 2001, at Noon (EST). Stan Nowak, senior director of STORmanage(SM) services, will discuss the offering in detail.
STORmanage services apply StorageNetworks` software and best practices to a customer`s existing multi-vendor storage infrastructure. These services provide StorageNetworks customers with increased control and optimal utilization of complex storage environments.
Participants in the Webcast will have an opportunity to ask questions via email. The live Webcast will be available and accessible from the StorageNetworks Web site at http://www.StorageNetworks.com/." target="_blank" rel="nofollow ugc noopener">http://www.StorageNetworks.com/.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services and a technology innovator that is making enterprise-class data storage as accessible as phone or electric utility services. StorageNetworks enables enterprises with large and rapidly growing volumes of business critical information to store, protect and access it more easily, reliably and efficiently than ever before. StorageNetworks services let customers drive significant and measurable costs out of their infrastructure while achieving higher levels of manageability, reliability, flexibility, availability and security. Based in Waltham, Massachusetts, StorageNetworks operates in major metropolitan areas worldwide. For further information, please visit the company`s Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks and STORmanage are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
StorageNetworks, Inc.
781-434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
StorageNetworks, Inc.
781-434-6373
erica.smith@storagenetworks.com
or
Barry Mason
Schwartz Communications, Inc.
781-684-0770
bmason@schwartz-pr.com
StorageNetworks, Veritas buy into storage start-up
SAN FRANCISCO, March 27 (Reuters) - Storage networking start-up Pirus Networks on Tuesday said it received $27 million in funding from investors including StorageNetworks Inc. (NasdaqNM:STOR - news) and Veritas Software Corp. (NasdaqNM:VRTS - news)
Pirus said its second funding round brings to $45 million the total the company has raised since it was founded in December 1999. This shows investors are confident that demand for digital content will fuel a growing market for storage networking products and services, the privately held company based in Acton, Mass. said.
The start-up, which recently acquired a Wichita, Kan.-based storage architecture design company, intends to use its most recent financing to expand its manufacturing capability, boost marketing and create new products.
The start-up also does not expect another formal funding round by private investors this year.
``We`ll use the capital to bring the first-generation product to market and develop the second-generation product,`` Pirus CEO Rich Napolitano told Reuters. ``This capital could last us 18 months.``
SAN FRANCISCO, March 27 (Reuters) - Storage networking start-up Pirus Networks on Tuesday said it received $27 million in funding from investors including StorageNetworks Inc. (NasdaqNM:STOR - news) and Veritas Software Corp. (NasdaqNM:VRTS - news)
Pirus said its second funding round brings to $45 million the total the company has raised since it was founded in December 1999. This shows investors are confident that demand for digital content will fuel a growing market for storage networking products and services, the privately held company based in Acton, Mass. said.
The start-up, which recently acquired a Wichita, Kan.-based storage architecture design company, intends to use its most recent financing to expand its manufacturing capability, boost marketing and create new products.
The start-up also does not expect another formal funding round by private investors this year.
``We`ll use the capital to bring the first-generation product to market and develop the second-generation product,`` Pirus CEO Rich Napolitano told Reuters. ``This capital could last us 18 months.``
StorageNetworks: Up from the gutter?
March 29, 2001 04:20 PM ET
by Robert Wang
RELATED STORIES
• Arsenal and others store storage
• StorageNetworks: First mover in data storage
• More by Robert Wang
--------------------------------------------------------------------------------
NEW YORK -- Despite StorageNetworks` (STOR) 94 percent drop from its 52-week high, some analysts say that the data storage service provider`s stock will firm up as it concludes its first quarter.
Shares in StorageNetworks, an Upside.com 150 component, ended the day up 2.4 percent to $9.41, on volume of about 1.3 million.
Optimism
"We`ve come out on balance thinking they`ll meet their numbers for the quarter," said Dan Renouard, an analyst at Robert W. Baird & Co. "If they just do what they say they were going to do, I think the stock [will go] up."
Renouard rates the stock "market outperform" and sees the company shedding 37 cents a share in Q1, which is in line with First Call/Thomson Financial`s consensus estimate.
Alex Arnold, an analyst at Adams, Harkness & Hill has an even more positive take on the stock`s prospects.
"The sense I get is that they`ll have a pretty good quarter," said Arnold, who said he thought the stock will gain value in the long-term.
"These guys are the only guys that met their numbers and didn`t cut their guidance," he said.
Arnold has a 12-month share price target of $16 for the stock and a Q1 earnings estimate of a loss of 35 cents a share -- 2 cents lower than the Street`s call.
Skepticisim
But Mark Langner, an analyst at Epoch Partners, doesn`t see the stock going anywhere anytime soon.
"I think the stock trades in an narrow channel around where it is today," he said. "This quarter will be OK, [but] I`m much more concerned about next quarter because the visibility has gotten tighter in the last few months."
Langner has no rating on StorageNetworks, but, like Arnold, he sees a loss of 35 cents a share for the company in Q1.
Data storage
Renouard said StorageNetworks` services become more valuable in a slowdown because they decrease the costs of data storage at a time when many businesses are seeking to cut costs.
StorageNetworks stores data on its own equipment for business clients, sparing customers the burden of buying their own data storage equipment from companies like EMC (EMC) and Network Appliance (NTAP).
On the flip side, analysts say, the number of new IT projects could be limited by the slowdown, a development that wouldn`t bode well for StorageNetworks.
"It`s my sense this company will be hit by the tech slowdown just like any other company," Langner said.
Robert Wang covers the stock markets for Upside.com. Reach him at rwang@upside.com. If you would like to submit a letter to the editor regarding this story, email online@upside.com.
March 29, 2001 04:20 PM ET
by Robert Wang
RELATED STORIES
• Arsenal and others store storage
• StorageNetworks: First mover in data storage
• More by Robert Wang
--------------------------------------------------------------------------------
NEW YORK -- Despite StorageNetworks` (STOR) 94 percent drop from its 52-week high, some analysts say that the data storage service provider`s stock will firm up as it concludes its first quarter.
Shares in StorageNetworks, an Upside.com 150 component, ended the day up 2.4 percent to $9.41, on volume of about 1.3 million.
Optimism
"We`ve come out on balance thinking they`ll meet their numbers for the quarter," said Dan Renouard, an analyst at Robert W. Baird & Co. "If they just do what they say they were going to do, I think the stock [will go] up."
Renouard rates the stock "market outperform" and sees the company shedding 37 cents a share in Q1, which is in line with First Call/Thomson Financial`s consensus estimate.
Alex Arnold, an analyst at Adams, Harkness & Hill has an even more positive take on the stock`s prospects.
"The sense I get is that they`ll have a pretty good quarter," said Arnold, who said he thought the stock will gain value in the long-term.
"These guys are the only guys that met their numbers and didn`t cut their guidance," he said.
Arnold has a 12-month share price target of $16 for the stock and a Q1 earnings estimate of a loss of 35 cents a share -- 2 cents lower than the Street`s call.
Skepticisim
But Mark Langner, an analyst at Epoch Partners, doesn`t see the stock going anywhere anytime soon.
"I think the stock trades in an narrow channel around where it is today," he said. "This quarter will be OK, [but] I`m much more concerned about next quarter because the visibility has gotten tighter in the last few months."
Langner has no rating on StorageNetworks, but, like Arnold, he sees a loss of 35 cents a share for the company in Q1.
Data storage
Renouard said StorageNetworks` services become more valuable in a slowdown because they decrease the costs of data storage at a time when many businesses are seeking to cut costs.
StorageNetworks stores data on its own equipment for business clients, sparing customers the burden of buying their own data storage equipment from companies like EMC (EMC) and Network Appliance (NTAP).
On the flip side, analysts say, the number of new IT projects could be limited by the slowdown, a development that wouldn`t bode well for StorageNetworks.
"It`s my sense this company will be hit by the tech slowdown just like any other company," Langner said.
Robert Wang covers the stock markets for Upside.com. Reach him at rwang@upside.com. If you would like to submit a letter to the editor regarding this story, email online@upside.com.
Hallo!
Auch ich halte StorageNetworks für einen hochinteressanten Wert, vor allen Dingen langfristig. Der Speichermarkt wird bis 2003 auf bis zu 8 Milliarden Dollar anwachsen und meiner Meinung nach ist das Ende der Fahnenstange damit noch nicht erreicht. StorageNetworks bietet Unternehmen eine sehr interessante Möglichkeit ihre Speicherproblematik kostengünstig und bequem in den Griff zu bekommen. Die Frage ist nur: Wie tief kann die Aktie in diesem Marktumfeld noch fallen? Würdet ihr bereits jetzt erste Positionen aufbauen?
@ panik
Danke für die Bemühungen, die ganzen Artikel und Berichte hier reinzustellen. Könntest du eventuell die Ergebnisreihen bzw. die Prognosen pro Aktie für die kommenden Jahre (soweit bekannt) noch einmal posten? Da bin ich irgendwie nicht so ganz schlau draus geworden bzw. ich habe es nicht gefunden. Wo siehst du die Aktie in zwei bis drei Jahren?
Hier noch was von mir (vielleicht schon bekannt, aber was soll`s): Nach Ansicht von Tobin Smith, einem Chefanalysten von Changewave, einem Anlageberatungsdienst für zukunftsweisende Technologien (kenne ich leider nicht), gehört StorageNetworks zu den elf innovativsten Firmen, deren Aktien man im Falle einer Erholung/eines Aufschwungs an den Aktienmärkten im Depot haben sollte.
Aus folgenden Gründen:
- rasantes Wachstum in diesem Segment
- der Bedarf an Speicherkapazitäten der Unternehmen wird
explodieren
- StorageNetworks ist der einzige reine Anbieter dieser
Kapazitäten
- Technologie bringt enorme Vorteile (kostengünstig) für
die Unternehmen
Würde mich über Reaktionen und Antworten freuen.
greenhorn
Auch ich halte StorageNetworks für einen hochinteressanten Wert, vor allen Dingen langfristig. Der Speichermarkt wird bis 2003 auf bis zu 8 Milliarden Dollar anwachsen und meiner Meinung nach ist das Ende der Fahnenstange damit noch nicht erreicht. StorageNetworks bietet Unternehmen eine sehr interessante Möglichkeit ihre Speicherproblematik kostengünstig und bequem in den Griff zu bekommen. Die Frage ist nur: Wie tief kann die Aktie in diesem Marktumfeld noch fallen? Würdet ihr bereits jetzt erste Positionen aufbauen?
@ panik
Danke für die Bemühungen, die ganzen Artikel und Berichte hier reinzustellen. Könntest du eventuell die Ergebnisreihen bzw. die Prognosen pro Aktie für die kommenden Jahre (soweit bekannt) noch einmal posten? Da bin ich irgendwie nicht so ganz schlau draus geworden bzw. ich habe es nicht gefunden. Wo siehst du die Aktie in zwei bis drei Jahren?
Hier noch was von mir (vielleicht schon bekannt, aber was soll`s): Nach Ansicht von Tobin Smith, einem Chefanalysten von Changewave, einem Anlageberatungsdienst für zukunftsweisende Technologien (kenne ich leider nicht), gehört StorageNetworks zu den elf innovativsten Firmen, deren Aktien man im Falle einer Erholung/eines Aufschwungs an den Aktienmärkten im Depot haben sollte.
Aus folgenden Gründen:
- rasantes Wachstum in diesem Segment
- der Bedarf an Speicherkapazitäten der Unternehmen wird
explodieren
- StorageNetworks ist der einzige reine Anbieter dieser
Kapazitäten
- Technologie bringt enorme Vorteile (kostengünstig) für
die Unternehmen
Würde mich über Reaktionen und Antworten freuen.
greenhorn
Hallo greenhorn
Ich finde Stor langfristig auch sehr intressant,aber ich warte erst auf die Quartalszahlen ab ,dann steig ich ein (vielleicht auch vorher,mal sehen)
So jetzt erstmal die News
StorageNetworks Executives to Present On Data Storage Management Services
(BUSINESS WIRE)--
Executives from StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will be speaking at and attending conferences and tradeshows throughout April 2001.
StorageNetworks will be presenting at the following conferences during the month of April 2001:
Who: Mark Kincaid, Vice President of Technology
What: Comdex Chicago--ASP Summit;
"Designing Robust Storage Solutions" panel
When: Wednesday, April 4, 2001; 11:35 a.m.-12:30 p.m. CST
Where: McCormick Place, Chicago, Ill.
Who: Bruce Gordon, Vice President of Engineering Strategy
What: Storage Networking World; Keynote SSP Roundtable
When: Monday, April 9, 2001; 11:10 a.m. PST
Where: Marriott Desert Springs Resort & Spa,
Palm Desert, Calif.
Who: Alan Atkinson, Vice President of Engineering
What: Storage Networking World; "The Importance of Asset
Deployment, Protection and Recovery"
When: Tuesday, April 10, 2001; 11:00 a.m. PST
Where: Marriott Desert Springs Resort & Spa,
Palm Desert, Calif.
Who: Bill Miller, Co-Founder, CTO and Executive Vice
President
What: Gilder Publishing`s First Annual Storewidth
Conference; "The Future of Storage"
When: Thursday, April 12, 2001; 3:40 p.m. PST
Where: The Ritz Carlton, Laguna Niguel, Dana Point, Calif.
Who: Bill Miller, Co-Founder, CTO and Executive Vice
President
What: Gilder Publishing`s First Annual Storewidth
Conference; "Storewidth Roundtable"
When: Thursday, April 12, 2001; 8:00 p.m. PST
Where: The Ritz Carlton, Laguna Niguel, Dana Point, Calif.
Who: John Clavin, Executive Vice President of Marketing
What: JP Morgan H&Q Technology Conference
When: Monday, April 30, 2001; 4:00 p.m. PST
Where: Westin St. Francis Hotel, San Francisco, Calif.
For a complete listing of tradeshows and events where StorageNetworks is participating, please visit the company`s Web site at http://www.StorageNetworks.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks` world headquarters is in Waltham, Massachusetts. For further information, visit our Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
781/434-6716
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Trip Kucera
781/684-0770
tripk@schwartz-pr.com
------------------------------------------------------------
StorageNetworks Hosts Live Online Chat to Discuss Stormanage Storage Services
Storage Management Service Reduces Storage Costs And Simplifies Storage Management
WALTHAM, Mass.--(BUSINESS WIRE)--April 5, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will host a live online chat today, April 5, 2001 at 3:00 p.m. EST. Stan Nowak, senior director of the STORmanage(SM) services, will discuss the service offering in detail and be available to answer live questions from the audience.
STORmanage services apply StorageNetworks(SM) software, operational expertise and best practices to a customer`s existing multi-vendor storage infrastructure. These services reduce storage costs and improve service levels by actively managing, monitoring and operating customers` data storage assets in their data center.
Stan Nowak has been with StorageNetworks since October 1999 and has more than thirteen years of high-tech and energy sector experience. Before joining StorageNetworks, Nowak was the general manager of Enterprise Internetworking Services for GTE Internetworking (now Genuity).
To access the online chat, hosted by SearchStorage.com, go to: http://searchstorage.techtarget.com/onlineEvents/0,289675,si…
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services. Our technology and software enable enterprises to easily and cost-effectively store their rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks is based in Waltham, Massachusetts. For further information visit, www.storagenetworks.com, email info@storagenetworks.com or call 1-800-463-7105.
StorageNetworks and STORmanage are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Trip Kucera
781/684-0770
storagenetworks@schwartz-pr.com
Gruß panik
Ich finde Stor langfristig auch sehr intressant,aber ich warte erst auf die Quartalszahlen ab ,dann steig ich ein (vielleicht auch vorher,mal sehen)
So jetzt erstmal die News
StorageNetworks Executives to Present On Data Storage Management Services
(BUSINESS WIRE)--
Executives from StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will be speaking at and attending conferences and tradeshows throughout April 2001.
StorageNetworks will be presenting at the following conferences during the month of April 2001:
Who: Mark Kincaid, Vice President of Technology
What: Comdex Chicago--ASP Summit;
"Designing Robust Storage Solutions" panel
When: Wednesday, April 4, 2001; 11:35 a.m.-12:30 p.m. CST
Where: McCormick Place, Chicago, Ill.
Who: Bruce Gordon, Vice President of Engineering Strategy
What: Storage Networking World; Keynote SSP Roundtable
When: Monday, April 9, 2001; 11:10 a.m. PST
Where: Marriott Desert Springs Resort & Spa,
Palm Desert, Calif.
Who: Alan Atkinson, Vice President of Engineering
What: Storage Networking World; "The Importance of Asset
Deployment, Protection and Recovery"
When: Tuesday, April 10, 2001; 11:00 a.m. PST
Where: Marriott Desert Springs Resort & Spa,
Palm Desert, Calif.
Who: Bill Miller, Co-Founder, CTO and Executive Vice
President
What: Gilder Publishing`s First Annual Storewidth
Conference; "The Future of Storage"
When: Thursday, April 12, 2001; 3:40 p.m. PST
Where: The Ritz Carlton, Laguna Niguel, Dana Point, Calif.
Who: Bill Miller, Co-Founder, CTO and Executive Vice
President
What: Gilder Publishing`s First Annual Storewidth
Conference; "Storewidth Roundtable"
When: Thursday, April 12, 2001; 8:00 p.m. PST
Where: The Ritz Carlton, Laguna Niguel, Dana Point, Calif.
Who: John Clavin, Executive Vice President of Marketing
What: JP Morgan H&Q Technology Conference
When: Monday, April 30, 2001; 4:00 p.m. PST
Where: Westin St. Francis Hotel, San Francisco, Calif.
For a complete listing of tradeshows and events where StorageNetworks is participating, please visit the company`s Web site at http://www.StorageNetworks.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks` world headquarters is in Waltham, Massachusetts. For further information, visit our Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
781/434-6716
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Trip Kucera
781/684-0770
tripk@schwartz-pr.com
------------------------------------------------------------
StorageNetworks Hosts Live Online Chat to Discuss Stormanage Storage Services
Storage Management Service Reduces Storage Costs And Simplifies Storage Management
WALTHAM, Mass.--(BUSINESS WIRE)--April 5, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will host a live online chat today, April 5, 2001 at 3:00 p.m. EST. Stan Nowak, senior director of the STORmanage(SM) services, will discuss the service offering in detail and be available to answer live questions from the audience.
STORmanage services apply StorageNetworks(SM) software, operational expertise and best practices to a customer`s existing multi-vendor storage infrastructure. These services reduce storage costs and improve service levels by actively managing, monitoring and operating customers` data storage assets in their data center.
Stan Nowak has been with StorageNetworks since October 1999 and has more than thirteen years of high-tech and energy sector experience. Before joining StorageNetworks, Nowak was the general manager of Enterprise Internetworking Services for GTE Internetworking (now Genuity).
To access the online chat, hosted by SearchStorage.com, go to: http://searchstorage.techtarget.com/onlineEvents/0,289675,si…
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services. Our technology and software enable enterprises to easily and cost-effectively store their rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks is based in Waltham, Massachusetts. For further information visit, www.storagenetworks.com, email info@storagenetworks.com or call 1-800-463-7105.
StorageNetworks and STORmanage are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Trip Kucera
781/684-0770
storagenetworks@schwartz-pr.com
Gruß panik
StorageNetworks Co-Founder & Chief Technical Officer Bill Miller Honored as Premier 100 IT Leader by Computerworld Newspaper
Miller Recognized For Exceptional Technology Leadership and Innovative Approaches to Business Challenges
WALTHAM, Mass.--(BUSINESS WIRE)--April 6, 2001-- StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, today announced that Bill Miller, co-founder, executive vice president and chief technical officer, has been recognized by IDG`s Computerworld, the newspaper for IT leaders, as one of the business world`s Premier 100 IT Leaders. The award honors individuals who have had a positive impact on their organizations through technology.
As co-founder and CTO of StorageNetworks, Miller has helped to drive the change in how enterprise organizations acquire, implement and manage their data storage infrastructure. Miller has provided the insight in the development of all aspects of StorageNetworks technology and software, including the Global Data Storage(SM) Network (GDSN), Virtual Storage Portal(SM) (VSP(SM)) software, the STORos(SM) storage operating system and STORvision(SM) command and control software. Today, hundreds of customers have recognized the value proposition of StorageNetworks services.
The Premier 100 IT Leaders award recognizes Miller for the strategic direction of technology development and innovative approaches to business challenges. Miller will be honored at the Computerworld Premier 100 IT Leaders Conference, May 20-22, 2001 at the Westin Mission Hills Resort in Rancho Mirage, Calif.
Miller was selected from hundreds of nominees based on those leaders who most closely matched Computerworld`s Leadership Index, a set of characteristics that describes business and technology people who lend strategic vision and direction to their IT organizations in their use, development and deployment of technology. Other award winners include leading IT executives from corporations such as Capital One Financial Group, Public Broadcasting Service (PBS), Staples, Inc. and Toyota Motor Sales.
``The tremendous pace of change in today`s technology environment makes IT leadership an elusive quality to pin down,`` said Maryfran Johnson, editor in chief, Computerworld. ``Computerworld`s Premier 100 IT Leaders understand business needs, pioneer solutions to the problems IT faces and lead their organizations through innovation.``
``Bill long ago recognized that the future of storage is data storage management services driven by software intelligence,`` said Peter Bell, chairman and CEO of StorageNetworks. ``Through Bill`s leadership, StorageNetworks has developed technology and a software platform that empowers our customers with control over their heterogeneous storage environments, as well as cost savings of 25%-30%.``
Miller has spent his career in the data storage market and is a seasoned leader and expert in system design and architecture. Miller has successfully managed the design, development, sales and marketing of innovative storage technology for leading companies including Philips Electronics and National Semiconductor. From 1994-1998, he managed strategic accounts for Andataco and became the company`s top sales performer for two consecutive years. Miller left Andataco in August of 1998 to form StorageNetworks with Peter Bell. He is a graduate of the University of Illinois and holds 11 U.S. patents for inventions related to data storage.
The complete list of Premier 100 IT Leaders can be found in the March 26, 2001 issue of Computerworld and online at http://www.Computerworld.com/premier100." target="_blank" rel="nofollow ugc noopener">http://www.Computerworld.com/premier100.
About Computerworld
Computerworld, Inc. is a complete information services company for the IT Leader community, providing print and online publications, books, conferences and research services. The company`s flagship weekly newspaper for IT Leaders has been recognized numerous times by Folio: Magazine and the Computer Press Association as the best computer newspaper. With a circulation of 250,000, Computerworld, has a total audience of 935,200 according to IntelliQuest CIMS v.7.0. News and resources for the IT Leader community are available through Computerworld`s Web site at http://www.Computerworld.com. Computerworld is based in Framingham, Mass.
Computerworld is a business unit of IDG, the world`s leading IT media, research and exposition company. IDG publishes more than 300 magazines and newspapers and 4,000 book titles and offers online users the largest network of technology-specific sites around the world through IDG.net (http://www.idg.net), which comprises more than 270 targeted Web sites in 70 countries.
IDG is also a leading producer of 168 computer-related expositions worldwide, and provides IT market analysis through 50 offices in 43 countries worldwide. Company information is available at http://www.idg.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks` world headquarters is in Waltham, Massachusetts. For further information, visit our Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, Global Data Storage, STORvision, Virtual Storage Portal, VSP and STORos are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
StorageNetworks, Inc.
781/434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
StorageNetworks, Inc.
781/434-6373
erica.smith@storagenetworks.com
or
Trip Kucera
Schwartz Communications
781/684-0770
tripk@schwartz-pr.com
Miller Recognized For Exceptional Technology Leadership and Innovative Approaches to Business Challenges
WALTHAM, Mass.--(BUSINESS WIRE)--April 6, 2001-- StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, today announced that Bill Miller, co-founder, executive vice president and chief technical officer, has been recognized by IDG`s Computerworld, the newspaper for IT leaders, as one of the business world`s Premier 100 IT Leaders. The award honors individuals who have had a positive impact on their organizations through technology.
As co-founder and CTO of StorageNetworks, Miller has helped to drive the change in how enterprise organizations acquire, implement and manage their data storage infrastructure. Miller has provided the insight in the development of all aspects of StorageNetworks technology and software, including the Global Data Storage(SM) Network (GDSN), Virtual Storage Portal(SM) (VSP(SM)) software, the STORos(SM) storage operating system and STORvision(SM) command and control software. Today, hundreds of customers have recognized the value proposition of StorageNetworks services.
The Premier 100 IT Leaders award recognizes Miller for the strategic direction of technology development and innovative approaches to business challenges. Miller will be honored at the Computerworld Premier 100 IT Leaders Conference, May 20-22, 2001 at the Westin Mission Hills Resort in Rancho Mirage, Calif.
Miller was selected from hundreds of nominees based on those leaders who most closely matched Computerworld`s Leadership Index, a set of characteristics that describes business and technology people who lend strategic vision and direction to their IT organizations in their use, development and deployment of technology. Other award winners include leading IT executives from corporations such as Capital One Financial Group, Public Broadcasting Service (PBS), Staples, Inc. and Toyota Motor Sales.
``The tremendous pace of change in today`s technology environment makes IT leadership an elusive quality to pin down,`` said Maryfran Johnson, editor in chief, Computerworld. ``Computerworld`s Premier 100 IT Leaders understand business needs, pioneer solutions to the problems IT faces and lead their organizations through innovation.``
``Bill long ago recognized that the future of storage is data storage management services driven by software intelligence,`` said Peter Bell, chairman and CEO of StorageNetworks. ``Through Bill`s leadership, StorageNetworks has developed technology and a software platform that empowers our customers with control over their heterogeneous storage environments, as well as cost savings of 25%-30%.``
Miller has spent his career in the data storage market and is a seasoned leader and expert in system design and architecture. Miller has successfully managed the design, development, sales and marketing of innovative storage technology for leading companies including Philips Electronics and National Semiconductor. From 1994-1998, he managed strategic accounts for Andataco and became the company`s top sales performer for two consecutive years. Miller left Andataco in August of 1998 to form StorageNetworks with Peter Bell. He is a graduate of the University of Illinois and holds 11 U.S. patents for inventions related to data storage.
The complete list of Premier 100 IT Leaders can be found in the March 26, 2001 issue of Computerworld and online at http://www.Computerworld.com/premier100." target="_blank" rel="nofollow ugc noopener">http://www.Computerworld.com/premier100.
About Computerworld
Computerworld, Inc. is a complete information services company for the IT Leader community, providing print and online publications, books, conferences and research services. The company`s flagship weekly newspaper for IT Leaders has been recognized numerous times by Folio: Magazine and the Computer Press Association as the best computer newspaper. With a circulation of 250,000, Computerworld, has a total audience of 935,200 according to IntelliQuest CIMS v.7.0. News and resources for the IT Leader community are available through Computerworld`s Web site at http://www.Computerworld.com. Computerworld is based in Framingham, Mass.
Computerworld is a business unit of IDG, the world`s leading IT media, research and exposition company. IDG publishes more than 300 magazines and newspapers and 4,000 book titles and offers online users the largest network of technology-specific sites around the world through IDG.net (http://www.idg.net), which comprises more than 270 targeted Web sites in 70 countries.
IDG is also a leading producer of 168 computer-related expositions worldwide, and provides IT market analysis through 50 offices in 43 countries worldwide. Company information is available at http://www.idg.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks` world headquarters is in Waltham, Massachusetts. For further information, visit our Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, Global Data Storage, STORvision, Virtual Storage Portal, VSP and STORos are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
StorageNetworks, Inc.
781/434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
StorageNetworks, Inc.
781/434-6373
erica.smith@storagenetworks.com
or
Trip Kucera
Schwartz Communications
781/684-0770
tripk@schwartz-pr.com
Bill Miller, StorageNetworks Chief Technical Officer to Speak At Gilder`s First Annual Storewidth Industry Conference
Data Storage Industry Leader to Discuss the Future of Storage--
WALTHAM, Mass.--(BUSINESS WIRE)--April 6, 2001-- Bill Miller, co-founder and chief technical officer of StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, will present at Storewidth 2001--The End of Storage, Gilder Publishing`s First Annual Storewidth Industry Conference. Miller will present on THE FUTURE OF STORAGE, on Thursday, April 12, 2001, at 3:45 p.m. PST, followed by an executive panel on Storage Service Providers.
Additionally, Miller will present on the Storewidth Roundtable with Janpieter Scheerder, senior vice president, Sun Network Storage Division and Dale Vincent, CEO, Mangosoft, on Thursday, April 12, at 8:00 p.m. PST.
The Gilder Storewidth Industry Conference is an invitation-only event that will feature the long-standing giants of storage and pioneers in the emerging trends in the storage industry. The event takes place from April 10-12, 2001 in Laguna Niguel, Calif. Additional information and full agenda for the conference is available on the World Wide Web at http://www.storewidth2001.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks` world headquarters is in Waltham, Massachusetts. For further information, visit our Web site at http://www.storagenetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman, 781/434-6716
nicole.gorman@storagenetworks.com
or
Schwartz Communications, Inc.
Trip Kucera, 781/684-0770
tripk@schwartz-pr.com
Data Storage Industry Leader to Discuss the Future of Storage--
WALTHAM, Mass.--(BUSINESS WIRE)--April 6, 2001-- Bill Miller, co-founder and chief technical officer of StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, will present at Storewidth 2001--The End of Storage, Gilder Publishing`s First Annual Storewidth Industry Conference. Miller will present on THE FUTURE OF STORAGE, on Thursday, April 12, 2001, at 3:45 p.m. PST, followed by an executive panel on Storage Service Providers.
Additionally, Miller will present on the Storewidth Roundtable with Janpieter Scheerder, senior vice president, Sun Network Storage Division and Dale Vincent, CEO, Mangosoft, on Thursday, April 12, at 8:00 p.m. PST.
The Gilder Storewidth Industry Conference is an invitation-only event that will feature the long-standing giants of storage and pioneers in the emerging trends in the storage industry. The event takes place from April 10-12, 2001 in Laguna Niguel, Calif. Additional information and full agenda for the conference is available on the World Wide Web at http://www.storewidth2001.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks` world headquarters is in Waltham, Massachusetts. For further information, visit our Web site at http://www.storagenetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman, 781/434-6716
nicole.gorman@storagenetworks.com
or
Schwartz Communications, Inc.
Trip Kucera, 781/684-0770
tripk@schwartz-pr.com
StorageNetworks Sets New Standard for Storage Software Technology
World-Class Storage Management Software and Operating System Significantly Improve Customers` Control Over Heterogeneous Storage Environments
WALTHAM, Mass.--(BUSINESS WIRE)--April 9, 2001-- StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, today launched major new capabilities and features in its software platform. This software, the most robust multi-vendor storage management platform in the industry today, gives customers significantly greater control over their heterogeneous storage environments. The software also ensures the quality of StorageNetworks` service delivery and maximizes the reliability of StorageNetworks` data storage management services. The updated software platform now includes version 4.0 of StorageNetworks` Virtual Storage Portal(SM) (VSP(SM)) storage service management software, version 2.0 of its STORos(SM) storage operating system and version 2.0 of its STORvision(SM) command and control software.
``One of the most significant challenges for companies deploying storage networks is managing the incompatible servers, storage devices and networking equipment that comprise a storage architecture,`` said Brad Nisbet, senior research analyst of storage systems at IDC. ``StorageNetworks has worked to solve this challenge by developing storage management software which allows it to manage the interoperability and scalability within customers` networks. An additional benefit is that the software provides an interface for the customer to view the storage environment within their own environment.``
STORos v2.0 Operating System: The Industry`s First Storage Operating System
StorageNetworks announced today the latest version of its STORos operating system, which integrates and centralizes the distributed and heterogeneous management elements of the storage network. The STORos operating system provides a common structure that unifies storage resources through defined interfaces for information exchange, control and management. Additionally, it is the underlying operating system that supports StorageNetworks` innovative Storage Service Management applications -- the Virtual Storage Portal software and STORvision command and control software. Through work conducted at its advanced technology and software development labs, which perform extensive testing and integration, StorageNetworks has certified multiple industry leading storage technologies. These technologies include: Brocade, Cisco, Compaq, EMC, Hitachi, Legato, Network Appliance, StorageTek, Sun and Veritas.
A key new feature of the STORos operating system is an XML-based API that gives enterprise customers the ability to write applications from their existing management frameworks to the STORos operating system. Through the API, customers gain access to key information across the elements in their storage environment, while still utilizing their existing applications.
``The future of storage is data storage management services driven by software intelligence -- and at the core of this intelligence is the STORos operating system,`` said Peter Bell, chairman and CEO of StorageNetworks. ``We have created the foundation for robust storage management applications through which enterprise customers can significantly reduce costs and complexity.``
STORvision v2.0 Software: Delivering The Highest Quality of Storage
StorageNetworks also announced today version 2.0 of its STORvision software, the latest release of its command and control software. STORvision software enables the efficient and scalable management of the storage resources in StorageNetworks Global Data Storage(SM) Network (GDSN).
The StorageNetworks Global Operations Center (GOC) uses STORvision software to remotely monitor and manage events and changes within the storage network. STORvision software builds efficiency into the process of deploying and managing a heterogeneous storage environment -- streamlining procurement and configuration processes, sending event notifications that pertain to any component of the infrastructure and performing responses to specific events. The result is a scalable and highly reliable service that StorageNetworks` enterprise customers rely on to grow their storage environments.
Virtual Storage Portal (VSP) v4.0 Software: Empowering Customers With Greater Control
StorageNetworks also announced today version 4.0 of its industry leading Virtual Storage Portal software. This software is StorageNetworks` Web-based application that enables enterprise customers to closely analyze and monitor their storage environments as well as manage their data storage services. It provides current and historical information pertaining to availability, usage, capacity, performance, charge-backs and service-level metrics.
The Virtual Storage Portal software provides customers with the ability to manage and monitor their SAN, NAS and tape backup environments independent of the underlying devices, across geographically dispersed business sites. Version 4.0 of the Virtual Storage Portal software includes new features such as backup configuration reporting, improved SAN, NAS and tape topology views, and change management tracking.
``Questions CIOs have about their storage environments can take days or even weeks to find the answers to -- if they can even be answered at all,`` said Bill Miller, chief technical officer of StorageNetworks. ``Our customers can access all of the information about their data storage environments through the VSP software -- complex questions can be answered with detailed reports that are generated in just minutes. This increased control enables IT departments to become true service providers to their organizations.``
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks` world headquarters is in Waltham, Massachusetts. For further information, visit our Web site at http://www.StorageNetworks.com, email info@storagenetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, Virtual Storage Portal, VSP, STORos, STORvision and Global Data Storage are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
World-Class Storage Management Software and Operating System Significantly Improve Customers` Control Over Heterogeneous Storage Environments
WALTHAM, Mass.--(BUSINESS WIRE)--April 9, 2001-- StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, today launched major new capabilities and features in its software platform. This software, the most robust multi-vendor storage management platform in the industry today, gives customers significantly greater control over their heterogeneous storage environments. The software also ensures the quality of StorageNetworks` service delivery and maximizes the reliability of StorageNetworks` data storage management services. The updated software platform now includes version 4.0 of StorageNetworks` Virtual Storage Portal(SM) (VSP(SM)) storage service management software, version 2.0 of its STORos(SM) storage operating system and version 2.0 of its STORvision(SM) command and control software.
``One of the most significant challenges for companies deploying storage networks is managing the incompatible servers, storage devices and networking equipment that comprise a storage architecture,`` said Brad Nisbet, senior research analyst of storage systems at IDC. ``StorageNetworks has worked to solve this challenge by developing storage management software which allows it to manage the interoperability and scalability within customers` networks. An additional benefit is that the software provides an interface for the customer to view the storage environment within their own environment.``
STORos v2.0 Operating System: The Industry`s First Storage Operating System
StorageNetworks announced today the latest version of its STORos operating system, which integrates and centralizes the distributed and heterogeneous management elements of the storage network. The STORos operating system provides a common structure that unifies storage resources through defined interfaces for information exchange, control and management. Additionally, it is the underlying operating system that supports StorageNetworks` innovative Storage Service Management applications -- the Virtual Storage Portal software and STORvision command and control software. Through work conducted at its advanced technology and software development labs, which perform extensive testing and integration, StorageNetworks has certified multiple industry leading storage technologies. These technologies include: Brocade, Cisco, Compaq, EMC, Hitachi, Legato, Network Appliance, StorageTek, Sun and Veritas.
A key new feature of the STORos operating system is an XML-based API that gives enterprise customers the ability to write applications from their existing management frameworks to the STORos operating system. Through the API, customers gain access to key information across the elements in their storage environment, while still utilizing their existing applications.
``The future of storage is data storage management services driven by software intelligence -- and at the core of this intelligence is the STORos operating system,`` said Peter Bell, chairman and CEO of StorageNetworks. ``We have created the foundation for robust storage management applications through which enterprise customers can significantly reduce costs and complexity.``
STORvision v2.0 Software: Delivering The Highest Quality of Storage
StorageNetworks also announced today version 2.0 of its STORvision software, the latest release of its command and control software. STORvision software enables the efficient and scalable management of the storage resources in StorageNetworks Global Data Storage(SM) Network (GDSN).
The StorageNetworks Global Operations Center (GOC) uses STORvision software to remotely monitor and manage events and changes within the storage network. STORvision software builds efficiency into the process of deploying and managing a heterogeneous storage environment -- streamlining procurement and configuration processes, sending event notifications that pertain to any component of the infrastructure and performing responses to specific events. The result is a scalable and highly reliable service that StorageNetworks` enterprise customers rely on to grow their storage environments.
Virtual Storage Portal (VSP) v4.0 Software: Empowering Customers With Greater Control
StorageNetworks also announced today version 4.0 of its industry leading Virtual Storage Portal software. This software is StorageNetworks` Web-based application that enables enterprise customers to closely analyze and monitor their storage environments as well as manage their data storage services. It provides current and historical information pertaining to availability, usage, capacity, performance, charge-backs and service-level metrics.
The Virtual Storage Portal software provides customers with the ability to manage and monitor their SAN, NAS and tape backup environments independent of the underlying devices, across geographically dispersed business sites. Version 4.0 of the Virtual Storage Portal software includes new features such as backup configuration reporting, improved SAN, NAS and tape topology views, and change management tracking.
``Questions CIOs have about their storage environments can take days or even weeks to find the answers to -- if they can even be answered at all,`` said Bill Miller, chief technical officer of StorageNetworks. ``Our customers can access all of the information about their data storage environments through the VSP software -- complex questions can be answered with detailed reports that are generated in just minutes. This increased control enables IT departments to become true service providers to their organizations.``
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks` world headquarters is in Waltham, Massachusetts. For further information, visit our Web site at http://www.StorageNetworks.com, email info@storagenetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, Virtual Storage Portal, VSP, STORos, STORvision and Global Data Storage are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks Announces First-Quarter Financial Results Conference Call
WALTHAM, Mass.--(BUSINESS WIRE)--April 13, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced that the company will hold a conference call on April 18, 2001 at 8:00 AM EST with Peter Bell, Chairman and CEO and Paul Flanagan, Chief Financial Officer, to discuss financial and company results from the first quarter of 2001. A question and answer session will follow opening remarks from management.
ADVERTISEMENT
A live Webcast of the call will be available and accessible from the investor relations section of the Company`s website at www.StorageNetworks.com. The call may be joined via telephone by dialing (888) 781-3173 domestically and (706) 634-5107 internationally at least 5 minutes prior to the start of the call. The passcode is: 203070.
An audio replay will be available on the company`s Web site in the investor relations` section. In addition, you may access the replay by dialing (800) 642-1687 domestically and (706) 645-9291 internationally. The conference ID code is: 203070. About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Erica Smith
781/434-6373
erica.smith@storagenetworks.com
or
Nicole Gorman
781/434-6716
nicole.gorman@storagenetworks.com
or
Schwartz Communications
Barry Mason
781/684-0770
bmason@schwartz-pr.com
Bin schon auf die Zahlen gespannt!
Hab mir eine kleine Position aufgebaut!
Wenn Zahlen und Ausblick gut sind,wird Stor der Highflyer davon bin ich zu 100% überzeugt!
Gruß panik
WALTHAM, Mass.--(BUSINESS WIRE)--April 13, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced that the company will hold a conference call on April 18, 2001 at 8:00 AM EST with Peter Bell, Chairman and CEO and Paul Flanagan, Chief Financial Officer, to discuss financial and company results from the first quarter of 2001. A question and answer session will follow opening remarks from management.
ADVERTISEMENT
A live Webcast of the call will be available and accessible from the investor relations section of the Company`s website at www.StorageNetworks.com. The call may be joined via telephone by dialing (888) 781-3173 domestically and (706) 634-5107 internationally at least 5 minutes prior to the start of the call. The passcode is: 203070.
An audio replay will be available on the company`s Web site in the investor relations` section. In addition, you may access the replay by dialing (800) 642-1687 domestically and (706) 645-9291 internationally. The conference ID code is: 203070. About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Erica Smith
781/434-6373
erica.smith@storagenetworks.com
or
Nicole Gorman
781/434-6716
nicole.gorman@storagenetworks.com
or
Schwartz Communications
Barry Mason
781/684-0770
bmason@schwartz-pr.com
Bin schon auf die Zahlen gespannt!
Hab mir eine kleine Position aufgebaut!
Wenn Zahlen und Ausblick gut sind,wird Stor der Highflyer davon bin ich zu 100% überzeugt!
Gruß panik
StorageNetworks Announces First-Quarter Results
Revenues Increase Sequentially by 28%
85% of New Bookings from Enterprise Customers
WALTHAM, Mass.--(BUSINESS WIRE)--April 18, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced revenues for the first quarter ended March 31, 2001 of $27.1 million, a 28% increase over revenues of $21.2 million in the fourth quarter of 2000 and a 489% increase over revenues of $4.6 million in the first quarter of 2000.
The company reported an EBITDA loss (net loss before interest, taxes, depreciation, amortization and non-cash stock compensation) of $22.1 million, a 14% improvement over a EBITDA loss of $25.6 million in the fourth quarter of 2000. The company also reported a net loss of $32.9 million, or $0.34 per share, compared with a loss of $33.0 million, or $0.36 per share, for the fourth quarter of 2000.
``The first quarter of 2001 was the best quarter in our company`s history. We posted strong revenues and record 12-month bookings. We are proud of both the quality of our bookings and the surge in demand for our recently launched STORmanage(sm) service,`` stated Peter Bell, StorageNetworks` Chairman and Chief Executive Officer. ``In today`s economy, companies are looking for ways to minimize the complexity of their storage management while at the same time immediately reducing the cost of their IT environments. We believe that the traditional way to satisfy enterprise storage requirements is no longer acceptable to these companies. StorageNetworks(sm) software and services are the solution to the challenges faced by enterprise customers. Ford Motor Company, for example, licensed our software and entire suite of services during the quarter.``
During the quarter, StorageNetworks list of customers increased to over 210. In addition to Ford, major customer additions during the quarter include Microsoft, Sun Microsystems, Washington Mutual Bank, Adidas, Bank One and Weyerhaeuser. Significant repeat customers include Covisint, Lycos, MetLife and West LB London. The combination of new larger enterprise accounts and repeat customers resulted in average annualized revenue per customer increasing to approximately $500,000 from $450,000 in the previous quarter.
``I am very pleased with the financial results for the quarter,`` stated Paul Flanagan, Executive Vice President and Chief Financial Officer. ``We saw our EBITDA loss, net loss and loss per share continue to improve toward profitability. I was most pleased with the quality of our bookings. Eighty five percent of our bookings for the quarter came from enterprise accounts. This factor, combined with a solid installed customer base, has resulted in our days sales outstanding remaining strong at 45 days.``
``As the STORos(sm) operating system continues to become more robust, our software and the way in which we deliver services continue to create unique advantages for our business. For example, during the quarter we saw an increase in higher margin offerings, such as our STORmanage services, which leverage our software and best practices. In addition, 70% of new bookings will be delivered onsite, inside the customer`s IT data center. This combination has resulted in a 36% improvement in gross margin loss to -21% and will allow us to continue to drive gross margin toward profitability,`` continued Flanagan.
Additional Financial Highlights for the First Quarter
Managed storage services revenues increased to $23.0 million, up 42% from $16.3 million in the fourth quarter of 2000
Secured $12 million in additional lease commitments
Ended the quarter with $375 million in cash, cash equivalents and short term investments and approximately $40 million in available lease financing
``Many enterprise companies consider their data to be their most valuable asset. These organizations are looking for a better, more cost-effective alternative to managing that information in order to drive productivity into their overall businesses,`` continued Bell. ``More and more, our software and services are the solution for these enterprise companies. For example, in the most recent edition of the Corporate Executive Board`s IT Cost Savings Series, Merrill Lynch cited a 47% savings in overall storage spending by using StorageNetworks` software and services while enjoying better availability and more efficient provisioning capabilities. This is the kind of tangible productivity impact that we are making in our customers` operations.``
StorageNetworks continued to set the industry standard for data storage management software with the recent launch of major new capabilities to its software. This software is the most robust multi-vendor storage management platform in the industry today. The updated software suite now includes version 4.0 of the Virtual Storage Portal(sm) software, version 2.0 of the STORvision(sm) software and version 2.0 of the STORos operating system.
``Our results illustrate that we are the clear industry leader in data storage management services. Today, we have the strong balance sheet, core customer base and proven track record to position us for success in 2001 and beyond. We are singularly focused on execution and plan to invest in our software platform and storage expertise to deliver world-class services to our customers and build shareholder value,`` concluded Mr. Bell.
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, competition, the ability to reliably deliver services and to develop new technology, and the ability to achieve operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, Virtual Storage Portal, STORmanage, STORos, and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
-0-
StorageNetworks, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
December 31, 2000 March 31, 2001
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 304,861 $ 224,769
Short-term investments 84,767 118,120
Accounts receivable, net 7,886 8,527
Prepaid expenses and other
current assets 10,044 14,043
Total current assets 407,558 365,459
Property and equipment, net 135,867 145,344
Restricted cash equivalents 32,133 32,816
Rights to use fiber optic
capacity 7,595 7,865
Other assets 19,460 20,248
Total assets $ 602,613 $ 571,732
LIABILITIES AND STOCKHOLDERS` EQUITY
CURRENT LIABILITIES:
Accounts payable $ 3,746 $ 9,709
Accrued expenses 23,134 23,339
Deferred revenue 5,938 3,814
Capital lease obligations 36,617 37,460
Total current liabilities 69,435 74,322
Capital lease obligations, less
current portion 94,050 88,789
Commitments and contingencies -- --
STOCKHOLDERS` EQUITY:
Common stock 954 963
Treasury stock -- (200)
Additional paid-in capital 601,649 602,342
Deferred stock compensation (13,754) (12,560)
Accumulated other
comprehensive income (406) 254
Accumulated deficit (149,315) (182,178)
Total stockholders`
equity 439,128 408,621
Total liabilities and
stockholders` equity $ 602,613 $ 571,732
StorageNetworks, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended March 31,
2000 2001
REVENUES:
Managed storage services revenues $ 1,307 $ 23,049
Professional services revenues 3,313 4,056
Total revenues 4,620 27,105
COSTS AND EXPENSES:
Cost of managed storage services
revenues, excluding deferred
compensation amortization amounts 11,094 30,110
Cost of professional services
revenues, excluding deferred
compensation amortization amounts 4,817 2,783
Sales and marketing, excluding
deferred compensation amortization
amounts 9,606 18,400
General and administrative, excluding
deferred compensation amortization
amounts 3,702 5,503
Research and development, excluding
deferred compensation amortization
amounts 1,827 4,356
Amortization of deferred stock
compensation * 1,383 1,194
Total costs and expenses 32,429 62,346
Loss from operations (27,809) (35,241)
Interest income 1,599 5,433
Interest expense (806) (3,055)
Net loss $ (27,016) $ (32,863)
Net loss per share-- basic and diluted $ (1.09) $ (0.34)
Weighted average common shares
outstanding 24,765 95,842
EBITDA (1) $ (23,888) $ (22,131)
* Amortization of deferred stock
compensation
Cost of managed storage services
revenues $ 77 $ 205
Cost of professional services revenues 165 52
Sales and marketing 478 405
General and administrative 261 101
Research and development 402 431
$ 1,383 $ 1,194
(1) Net loss before interest, taxes, depreciation, amortization and
non-cash stock compensation.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Barry Mason
781/684-0770
bmason@schwartz-pr.com
Revenues Increase Sequentially by 28%
85% of New Bookings from Enterprise Customers
WALTHAM, Mass.--(BUSINESS WIRE)--April 18, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced revenues for the first quarter ended March 31, 2001 of $27.1 million, a 28% increase over revenues of $21.2 million in the fourth quarter of 2000 and a 489% increase over revenues of $4.6 million in the first quarter of 2000.
The company reported an EBITDA loss (net loss before interest, taxes, depreciation, amortization and non-cash stock compensation) of $22.1 million, a 14% improvement over a EBITDA loss of $25.6 million in the fourth quarter of 2000. The company also reported a net loss of $32.9 million, or $0.34 per share, compared with a loss of $33.0 million, or $0.36 per share, for the fourth quarter of 2000.
``The first quarter of 2001 was the best quarter in our company`s history. We posted strong revenues and record 12-month bookings. We are proud of both the quality of our bookings and the surge in demand for our recently launched STORmanage(sm) service,`` stated Peter Bell, StorageNetworks` Chairman and Chief Executive Officer. ``In today`s economy, companies are looking for ways to minimize the complexity of their storage management while at the same time immediately reducing the cost of their IT environments. We believe that the traditional way to satisfy enterprise storage requirements is no longer acceptable to these companies. StorageNetworks(sm) software and services are the solution to the challenges faced by enterprise customers. Ford Motor Company, for example, licensed our software and entire suite of services during the quarter.``
During the quarter, StorageNetworks list of customers increased to over 210. In addition to Ford, major customer additions during the quarter include Microsoft, Sun Microsystems, Washington Mutual Bank, Adidas, Bank One and Weyerhaeuser. Significant repeat customers include Covisint, Lycos, MetLife and West LB London. The combination of new larger enterprise accounts and repeat customers resulted in average annualized revenue per customer increasing to approximately $500,000 from $450,000 in the previous quarter.
``I am very pleased with the financial results for the quarter,`` stated Paul Flanagan, Executive Vice President and Chief Financial Officer. ``We saw our EBITDA loss, net loss and loss per share continue to improve toward profitability. I was most pleased with the quality of our bookings. Eighty five percent of our bookings for the quarter came from enterprise accounts. This factor, combined with a solid installed customer base, has resulted in our days sales outstanding remaining strong at 45 days.``
``As the STORos(sm) operating system continues to become more robust, our software and the way in which we deliver services continue to create unique advantages for our business. For example, during the quarter we saw an increase in higher margin offerings, such as our STORmanage services, which leverage our software and best practices. In addition, 70% of new bookings will be delivered onsite, inside the customer`s IT data center. This combination has resulted in a 36% improvement in gross margin loss to -21% and will allow us to continue to drive gross margin toward profitability,`` continued Flanagan.
Additional Financial Highlights for the First Quarter
Managed storage services revenues increased to $23.0 million, up 42% from $16.3 million in the fourth quarter of 2000
Secured $12 million in additional lease commitments
Ended the quarter with $375 million in cash, cash equivalents and short term investments and approximately $40 million in available lease financing
``Many enterprise companies consider their data to be their most valuable asset. These organizations are looking for a better, more cost-effective alternative to managing that information in order to drive productivity into their overall businesses,`` continued Bell. ``More and more, our software and services are the solution for these enterprise companies. For example, in the most recent edition of the Corporate Executive Board`s IT Cost Savings Series, Merrill Lynch cited a 47% savings in overall storage spending by using StorageNetworks` software and services while enjoying better availability and more efficient provisioning capabilities. This is the kind of tangible productivity impact that we are making in our customers` operations.``
StorageNetworks continued to set the industry standard for data storage management software with the recent launch of major new capabilities to its software. This software is the most robust multi-vendor storage management platform in the industry today. The updated software suite now includes version 4.0 of the Virtual Storage Portal(sm) software, version 2.0 of the STORvision(sm) software and version 2.0 of the STORos operating system.
``Our results illustrate that we are the clear industry leader in data storage management services. Today, we have the strong balance sheet, core customer base and proven track record to position us for success in 2001 and beyond. We are singularly focused on execution and plan to invest in our software platform and storage expertise to deliver world-class services to our customers and build shareholder value,`` concluded Mr. Bell.
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the matters discussed in this announcement are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, competition, the ability to reliably deliver services and to develop new technology, and the ability to achieve operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, Virtual Storage Portal, STORmanage, STORos, and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
-0-
StorageNetworks, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
December 31, 2000 March 31, 2001
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 304,861 $ 224,769
Short-term investments 84,767 118,120
Accounts receivable, net 7,886 8,527
Prepaid expenses and other
current assets 10,044 14,043
Total current assets 407,558 365,459
Property and equipment, net 135,867 145,344
Restricted cash equivalents 32,133 32,816
Rights to use fiber optic
capacity 7,595 7,865
Other assets 19,460 20,248
Total assets $ 602,613 $ 571,732
LIABILITIES AND STOCKHOLDERS` EQUITY
CURRENT LIABILITIES:
Accounts payable $ 3,746 $ 9,709
Accrued expenses 23,134 23,339
Deferred revenue 5,938 3,814
Capital lease obligations 36,617 37,460
Total current liabilities 69,435 74,322
Capital lease obligations, less
current portion 94,050 88,789
Commitments and contingencies -- --
STOCKHOLDERS` EQUITY:
Common stock 954 963
Treasury stock -- (200)
Additional paid-in capital 601,649 602,342
Deferred stock compensation (13,754) (12,560)
Accumulated other
comprehensive income (406) 254
Accumulated deficit (149,315) (182,178)
Total stockholders`
equity 439,128 408,621
Total liabilities and
stockholders` equity $ 602,613 $ 571,732
StorageNetworks, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended March 31,
2000 2001
REVENUES:
Managed storage services revenues $ 1,307 $ 23,049
Professional services revenues 3,313 4,056
Total revenues 4,620 27,105
COSTS AND EXPENSES:
Cost of managed storage services
revenues, excluding deferred
compensation amortization amounts 11,094 30,110
Cost of professional services
revenues, excluding deferred
compensation amortization amounts 4,817 2,783
Sales and marketing, excluding
deferred compensation amortization
amounts 9,606 18,400
General and administrative, excluding
deferred compensation amortization
amounts 3,702 5,503
Research and development, excluding
deferred compensation amortization
amounts 1,827 4,356
Amortization of deferred stock
compensation * 1,383 1,194
Total costs and expenses 32,429 62,346
Loss from operations (27,809) (35,241)
Interest income 1,599 5,433
Interest expense (806) (3,055)
Net loss $ (27,016) $ (32,863)
Net loss per share-- basic and diluted $ (1.09) $ (0.34)
Weighted average common shares
outstanding 24,765 95,842
EBITDA (1) $ (23,888) $ (22,131)
* Amortization of deferred stock
compensation
Cost of managed storage services
revenues $ 77 $ 205
Cost of professional services revenues 165 52
Sales and marketing 478 405
General and administrative 261 101
Research and development 402 431
$ 1,383 $ 1,194
(1) Net loss before interest, taxes, depreciation, amortization and
non-cash stock compensation.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
or
Schwartz Communications
Barry Mason
781/684-0770
bmason@schwartz-pr.com
StorageNetworks Q1 tops Street view
WALTHAM, Mass., April 18 (Reuters) - U.S. data storage management services company StorageNetworks Inc. (NasdaqNM:STOR - news) posted a narrower-than-expected first-quarter loss on Wednesday as revenues rose almost 500 percent, and named a new president and chief operating officer.
The company reported a net loss of $32.9 million, or 34 cents a share, compared with a loss of $27 million, or $1.09 a share, in the year-ago period.
Analysts had expected a loss of 37 cents a share, according to research firm Thomson Financial/First Call. Revenues were $27.1 million, up from $4.6 million in the first quarter of 2000.
The company also said it had named Ken Fehrnstrom president and chief operating officer. He had been president and chief executive of Ensim Corp., a data center infrastructure product company. Further details were not immediately available.
Es kann losgehen
Gruß panik
WALTHAM, Mass., April 18 (Reuters) - U.S. data storage management services company StorageNetworks Inc. (NasdaqNM:STOR - news) posted a narrower-than-expected first-quarter loss on Wednesday as revenues rose almost 500 percent, and named a new president and chief operating officer.
The company reported a net loss of $32.9 million, or 34 cents a share, compared with a loss of $27 million, or $1.09 a share, in the year-ago period.
Analysts had expected a loss of 37 cents a share, according to research firm Thomson Financial/First Call. Revenues were $27.1 million, up from $4.6 million in the first quarter of 2000.
The company also said it had named Ken Fehrnstrom president and chief operating officer. He had been president and chief executive of Ensim Corp., a data center infrastructure product company. Further details were not immediately available.
Es kann losgehen
Gruß panik
StorageNetworks Tops the Street`s View
WALTHAM, Mass. (Reuters) - U.S. data storage management services company StorageNetworks Inc. (NasdaqNM:STOR - news) posted a narrower-than-expected first-quarter loss on Wednesday as revenues rose almost 500 percent, and named a new president and chief operating officer.
The company reported a net loss of $32.9 million, or 34 cents a share, compared with a loss of $27 million, or $1.09 a share, in the year-ago period.
Analysts had expected a loss of 37 cents a share, according to research firm Thomson Financial/First Call. Revenues were $27.1 million, up from $4.6 million in the first quarter of 2000.
The company also said it had named Ken Fehrnstrom president and chief operating officer. He had been president and chief executive of Ensim Corp., a data center infrastructure product company. Further details were not immediately available.
WALTHAM, Mass. (Reuters) - U.S. data storage management services company StorageNetworks Inc. (NasdaqNM:STOR - news) posted a narrower-than-expected first-quarter loss on Wednesday as revenues rose almost 500 percent, and named a new president and chief operating officer.
The company reported a net loss of $32.9 million, or 34 cents a share, compared with a loss of $27 million, or $1.09 a share, in the year-ago period.
Analysts had expected a loss of 37 cents a share, according to research firm Thomson Financial/First Call. Revenues were $27.1 million, up from $4.6 million in the first quarter of 2000.
The company also said it had named Ken Fehrnstrom president and chief operating officer. He had been president and chief executive of Ensim Corp., a data center infrastructure product company. Further details were not immediately available.
Hi panik!
Hast du in Storagenetworks bereits investiert? Ich überlege gerade, wobei ich nicht weiß, ob ich auf den fahrenden Zug aufspringen (rund 20 % rauf zur Zeit in den USA), oder eine kleine Beruhigung abwarten soll, um dann aber Gefahr zu laufen nur noch die Rücklichter zu sehen. Mein Problem ist einfach, dass viele Einzelwerte schon wieder in kurzer Zeit sehr hoch gelaufen sind (bemessen an ihrem Tiefstkurs! Natürlich nicht, was das Alltime High betrifft). Storagenetworks kommt zum Beispiel von 7 Dollar und stehen jetzt bei 12 Dollar. Das schreit eigentlich nach einer Verschnaufpause, aber wenn man die erwartet kommt sie wahrscheinlich eh nicht. Wie siehst du die Situation?
Die Zahlen waren ja erfreulich, wenn ich das richtig verstanden habe.
Gruß greenhorn
Hast du in Storagenetworks bereits investiert? Ich überlege gerade, wobei ich nicht weiß, ob ich auf den fahrenden Zug aufspringen (rund 20 % rauf zur Zeit in den USA), oder eine kleine Beruhigung abwarten soll, um dann aber Gefahr zu laufen nur noch die Rücklichter zu sehen. Mein Problem ist einfach, dass viele Einzelwerte schon wieder in kurzer Zeit sehr hoch gelaufen sind (bemessen an ihrem Tiefstkurs! Natürlich nicht, was das Alltime High betrifft). Storagenetworks kommt zum Beispiel von 7 Dollar und stehen jetzt bei 12 Dollar. Das schreit eigentlich nach einer Verschnaufpause, aber wenn man die erwartet kommt sie wahrscheinlich eh nicht. Wie siehst du die Situation?
Die Zahlen waren ja erfreulich, wenn ich das richtig verstanden habe.
Gruß greenhorn
Hi Greenhorn
Bin seit heute investiert bei Stor,und bleib es auch Zahlen sind gut!
Wenn du mal schaust ist Stor nicht so gelaufen wie andere Werte,z.b. Onis Tief bei 16$ jetzt 40$,also es haben sich schon alle verdoppelt(fast alle)
Schwer zu sagen ob du jetzt einsteigen sollst,kann sein das z.b. morgen gewinnmitnahmen kommen? Wer weiß das schon,also wenn du langfristig überlegst ist es ein klarer kauf,weil sie ihre Zahlen bewiesen haben.
Gruß panik
Bin seit heute investiert bei Stor,und bleib es auch Zahlen sind gut!
Wenn du mal schaust ist Stor nicht so gelaufen wie andere Werte,z.b. Onis Tief bei 16$ jetzt 40$,also es haben sich schon alle verdoppelt(fast alle)
Schwer zu sagen ob du jetzt einsteigen sollst,kann sein das z.b. morgen gewinnmitnahmen kommen? Wer weiß das schon,also wenn du langfristig überlegst ist es ein klarer kauf,weil sie ihre Zahlen bewiesen haben.
Gruß panik
StorageNetworks skyrockets
April 18, 2001 03:55 PM ET
by Sabrina Korber
RELATED STORIES
•StorageNetworks: Up from the gutter?
•StorageNetworks: First mover in data storage
•Storage stocks slump after estimates lowered
Data storage management services company StorageNetworks (STOR) saw its stock price rise more than 25 percent today, thanks to the broad-based tech rally and the company`s smaller than expected loss.
StorageNetworks beat the Street today when it posted a first-quarter net loss of 34 cents per share, compared with a loss of $1.09 cents a share in the year-ago period.
Analysts had expected a loss of 37 cents a share, according to First Call/Thomson Financial.
Revenues rose almost 500 percent to $27.1 million, up from $4.6 million in the first quarter of 2000.
StorageNetworks provides comprehensive data storage solutions to companies such as Ford Motor Company (F), Goldman Sachs (GS), Merrill Lynch (MER) and Terra Lycos (TRLY). It competes in the same space as Compaq (CPQ), EMC (EMC) and StorageTek (STK).
Counter-cyclical
StorageNetworks CEO Peter Bell sees the slump in capital spending, especially in the server market, as helping the company`s market share due to the growing demand to cut costs.
"Customers with large Unix deployments or large NT deployments are looking to consolidate servers to lower the cost of managing their infrastructures. So, delivering storage as a service over a network often plays into those strategies," Bell said.
StorageNetworks is dedicated to the deployment of a global data storage network that would allow companies to store and access their data worldwide.
Not worried
Although the slowdown in information technology spending is starting to spread across the globe, StorageNetworks is not yet worried that demand for its products will wane.
"Companies still need to buy storage, they still need to add capacity and they still need to deploy new applications. So, in some ways, the fact that we can deliver the same quality, the same levels of availability, the same back-up capabilities to customers with typically a 30 percent cost savings actually is very powerful in light of the economic conditions both here and around the world," said Bell.
StorageNetworks says it is on target to reach gross margin profitability by the fourth quarter of 2001, and operating profitability by Q4 2002.
Sabrina Korber is a producer at Upside.com.
April 18, 2001 03:55 PM ET
by Sabrina Korber
RELATED STORIES
•StorageNetworks: Up from the gutter?
•StorageNetworks: First mover in data storage
•Storage stocks slump after estimates lowered
Data storage management services company StorageNetworks (STOR) saw its stock price rise more than 25 percent today, thanks to the broad-based tech rally and the company`s smaller than expected loss.
StorageNetworks beat the Street today when it posted a first-quarter net loss of 34 cents per share, compared with a loss of $1.09 cents a share in the year-ago period.
Analysts had expected a loss of 37 cents a share, according to First Call/Thomson Financial.
Revenues rose almost 500 percent to $27.1 million, up from $4.6 million in the first quarter of 2000.
StorageNetworks provides comprehensive data storage solutions to companies such as Ford Motor Company (F), Goldman Sachs (GS), Merrill Lynch (MER) and Terra Lycos (TRLY). It competes in the same space as Compaq (CPQ), EMC (EMC) and StorageTek (STK).
Counter-cyclical
StorageNetworks CEO Peter Bell sees the slump in capital spending, especially in the server market, as helping the company`s market share due to the growing demand to cut costs.
"Customers with large Unix deployments or large NT deployments are looking to consolidate servers to lower the cost of managing their infrastructures. So, delivering storage as a service over a network often plays into those strategies," Bell said.
StorageNetworks is dedicated to the deployment of a global data storage network that would allow companies to store and access their data worldwide.
Not worried
Although the slowdown in information technology spending is starting to spread across the globe, StorageNetworks is not yet worried that demand for its products will wane.
"Companies still need to buy storage, they still need to add capacity and they still need to deploy new applications. So, in some ways, the fact that we can deliver the same quality, the same levels of availability, the same back-up capabilities to customers with typically a 30 percent cost savings actually is very powerful in light of the economic conditions both here and around the world," said Bell.
StorageNetworks says it is on target to reach gross margin profitability by the fourth quarter of 2001, and operating profitability by Q4 2002.
Sabrina Korber is a producer at Upside.com.
Epoch Partners Issues Research Note on StorageNetworks
Research Note Highlights Q1 Results
SAN FRANCISCO, April 19 /PRNewswire/ -- Epoch Partners today issued a Research Note analyzing first quarter results from StorageNetworks (Nasdaq: STOR - news). The Research Note, issued today by Mark Langner, Senior Analyst for Broadband and IP Data Services, is available for free to investors through the Epoch Web site (www.epoch.com). The following are key highlights included in the Research Note:
-- StorageNetworks announced first-quarter 2001 results today that
squeezed by consensus expectations on both the top and bottom lines.
-- The company`s service delivery model is evolving to the deployment of
services directly within existing customers` data center facilities.
-- We think that the earnings call underlined that StorageNetworks
continues to represent a strong long-term opportunity as a leader in
its space and as a well-run company.
Broadband and IP Data Services Research Coverage
Investors can visit Epoch`s Web site for an in-depth analysis of the Broadband and IP Data Services industry and to read research coverage on the following public companies in this sector: 360networks, Akamai Technologies, Covad Communications, Digital Island, Equinix, Exodus Communications, InterNAP, Level 3 Communications, Loudcloud, and StorageNetworks.
In addition, investors can be added to the Broadband Services email alert system, which alerts investors to new research in the Broadband Services sector. To be added to this alert system visit http://pluto.sparklist.com/scripts/lyris.pl?join=epochbroadb… . Epoch has also posted video interviews with George Conrades, CEO of Akamai Technologies, and Jay Adelson, CTO and co-founder of Equinix. Full research on these and other companies under coverage by Epoch is available for free to investors at www.epoch.com.
Epoch Partners is a technology-enabled investment bank focused on high- growth companies and electronically connected institutional and individual investors.
The information contained herein is based on sources believed to be reliable but is neither all-inclusive nor guaranteed by Epoch Partners. Opinions, if any, reflect our judgment at this time and are subject to change. Epoch Partners does not undertake to advise of changes in its opinion or the information. Epoch Partners may perform or seek to perform investment banking services for the issuers of securities which are the subject of our Research. Most of the companies Epoch Partners follows are emerging growth companies whose securities typically involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in the Epoch Partners Research may be unsuitable for investors depending on their specific investment objectives and financial situation and needs. No report included in the Epoch Partners Research is a recommendation that any particular investor should purchase or sell any particular security in any amount or at all and is not a solicitation of any offer to purchase or sell from or to any particular investor. For additional information that may be available on the securities mentioned, please contact Epoch Partners.
Epoch Partners is a member of the National Association of Securities Dealers, CRD number 103899.
SOURCE: Epoch Partners, Inc.
Research Note Highlights Q1 Results
SAN FRANCISCO, April 19 /PRNewswire/ -- Epoch Partners today issued a Research Note analyzing first quarter results from StorageNetworks (Nasdaq: STOR - news). The Research Note, issued today by Mark Langner, Senior Analyst for Broadband and IP Data Services, is available for free to investors through the Epoch Web site (www.epoch.com). The following are key highlights included in the Research Note:
-- StorageNetworks announced first-quarter 2001 results today that
squeezed by consensus expectations on both the top and bottom lines.
-- The company`s service delivery model is evolving to the deployment of
services directly within existing customers` data center facilities.
-- We think that the earnings call underlined that StorageNetworks
continues to represent a strong long-term opportunity as a leader in
its space and as a well-run company.
Broadband and IP Data Services Research Coverage
Investors can visit Epoch`s Web site for an in-depth analysis of the Broadband and IP Data Services industry and to read research coverage on the following public companies in this sector: 360networks, Akamai Technologies, Covad Communications, Digital Island, Equinix, Exodus Communications, InterNAP, Level 3 Communications, Loudcloud, and StorageNetworks.
In addition, investors can be added to the Broadband Services email alert system, which alerts investors to new research in the Broadband Services sector. To be added to this alert system visit http://pluto.sparklist.com/scripts/lyris.pl?join=epochbroadb… . Epoch has also posted video interviews with George Conrades, CEO of Akamai Technologies, and Jay Adelson, CTO and co-founder of Equinix. Full research on these and other companies under coverage by Epoch is available for free to investors at www.epoch.com.
Epoch Partners is a technology-enabled investment bank focused on high- growth companies and electronically connected institutional and individual investors.
The information contained herein is based on sources believed to be reliable but is neither all-inclusive nor guaranteed by Epoch Partners. Opinions, if any, reflect our judgment at this time and are subject to change. Epoch Partners does not undertake to advise of changes in its opinion or the information. Epoch Partners may perform or seek to perform investment banking services for the issuers of securities which are the subject of our Research. Most of the companies Epoch Partners follows are emerging growth companies whose securities typically involve a higher degree of risk and more volatility than the securities of more established companies. The securities discussed in the Epoch Partners Research may be unsuitable for investors depending on their specific investment objectives and financial situation and needs. No report included in the Epoch Partners Research is a recommendation that any particular investor should purchase or sell any particular security in any amount or at all and is not a solicitation of any offer to purchase or sell from or to any particular investor. For additional information that may be available on the securities mentioned, please contact Epoch Partners.
Epoch Partners is a member of the National Association of Securities Dealers, CRD number 103899.
SOURCE: Epoch Partners, Inc.
StorageNetworks Delivers Data Storage Management Services and Technology to Ford Motor Company
StorageNetworks` Services Unlock Significant Value In Ford`s Existing Assets And Improve Service Levels
WALTHAM, Mass.--(BUSINESS WIRE)--May 2, 2001-- StorageNetworks (NASDAQ:STOR - news), the world`s leading provider of data storage management services, today announced that it is delivering a suite of data storage services to Ford Motor Company (NYSE:F - news). StorageNetworks(SM) services measurably increase the control that large customers have across their data storage environments, while significantly driving costs down. The specific services that Ford is implementing include StorageNetworks STORmanage(SM) services to unlock value on existing and new data storage assets; DataPACS(SM) services to convert the current environment and deploy new SAN technology and professional services to re-architect elements of its storage environment.
StorageNetworks` suite of services provide the software, storage management best practices and operational expertise to manage, monitor and operate Ford`s existing and new data storage assets.
``Our experience is that we can further reduce the storage budgets of well-run enterprise environments by 25-30%,`` said Peter Bell, chairman and CEO of StorageNetworks. ``STORmanage services enable Ford to more efficiently utilize its existing storage assets and reduce new storage deployments.``
``Under-utilization of storage assets can occur even within companies that have large state-of-the-art data centers,`` said John McArthur, vice president of storage research for IDC. ``This is due in part to inadequate storage management tools in the industry today, but is also the result of the complexity and high cost of selecting and implementing the storage management tools that do exist. Companies like StorageNetworks are providing a balanced combination of services and software to enable companies such as Ford to more efficiently manage their environments, while improving asset utilization and ultimately reducing costs.``
As part of the company`s data storage management services, StorageNetworks provides its industry leading storage software technologies. This software includes StorageNetworks STORos(SM) operating system, which integrates and centralizes the distributed and heterogeneous management elements of the complete storage network. The STORos operating system provides a common structure that unifies storage resources through defined interfaces for information exchange, control and management. More importantly, the STORos operating system enables global asset management, which provides great benefits across a corporation`s vast enterprise. STORos is the underlying operating system that supports StorageNetworks innovative Storage Service Management applications such as the Virtual Storage Portal(SM) (VSP(SM)) software.
StorageNetworks Virtual Storage Portal software enables a company to closely analyze and monitor its storage environment, as well as manage its data storage services. The VSP software provides current and historical information pertaining to availability, usage, capacity, performance, charge-backs and service-level metrics. The VSP software also provides the ability to simultaneously manage and monitor their SAN environments independent of the underlying devices, across geographically dispersed business sites.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORmanage, DataPACS, STORos, Virtual Storage Portal and VSP are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
StorageNetworks, Inc.
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
Schwartz Communications
Barry Mason
Account Supervisor
781/684-0770
bmason@schwartz-pr.com
StorageNetworks` Services Unlock Significant Value In Ford`s Existing Assets And Improve Service Levels
WALTHAM, Mass.--(BUSINESS WIRE)--May 2, 2001-- StorageNetworks (NASDAQ:STOR - news), the world`s leading provider of data storage management services, today announced that it is delivering a suite of data storage services to Ford Motor Company (NYSE:F - news). StorageNetworks(SM) services measurably increase the control that large customers have across their data storage environments, while significantly driving costs down. The specific services that Ford is implementing include StorageNetworks STORmanage(SM) services to unlock value on existing and new data storage assets; DataPACS(SM) services to convert the current environment and deploy new SAN technology and professional services to re-architect elements of its storage environment.
StorageNetworks` suite of services provide the software, storage management best practices and operational expertise to manage, monitor and operate Ford`s existing and new data storage assets.
``Our experience is that we can further reduce the storage budgets of well-run enterprise environments by 25-30%,`` said Peter Bell, chairman and CEO of StorageNetworks. ``STORmanage services enable Ford to more efficiently utilize its existing storage assets and reduce new storage deployments.``
``Under-utilization of storage assets can occur even within companies that have large state-of-the-art data centers,`` said John McArthur, vice president of storage research for IDC. ``This is due in part to inadequate storage management tools in the industry today, but is also the result of the complexity and high cost of selecting and implementing the storage management tools that do exist. Companies like StorageNetworks are providing a balanced combination of services and software to enable companies such as Ford to more efficiently manage their environments, while improving asset utilization and ultimately reducing costs.``
As part of the company`s data storage management services, StorageNetworks provides its industry leading storage software technologies. This software includes StorageNetworks STORos(SM) operating system, which integrates and centralizes the distributed and heterogeneous management elements of the complete storage network. The STORos operating system provides a common structure that unifies storage resources through defined interfaces for information exchange, control and management. More importantly, the STORos operating system enables global asset management, which provides great benefits across a corporation`s vast enterprise. STORos is the underlying operating system that supports StorageNetworks innovative Storage Service Management applications such as the Virtual Storage Portal(SM) (VSP(SM)) software.
StorageNetworks Virtual Storage Portal software enables a company to closely analyze and monitor its storage environment, as well as manage its data storage services. The VSP software provides current and historical information pertaining to availability, usage, capacity, performance, charge-backs and service-level metrics. The VSP software also provides the ability to simultaneously manage and monitor their SAN environments independent of the underlying devices, across geographically dispersed business sites.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORmanage, DataPACS, STORos, Virtual Storage Portal and VSP are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman
Director, Corporate Communications
781/434-6716
nicole.gorman@storagenetworks.com
StorageNetworks, Inc.
Erica Smith
Director, Investor Relations
781/434-6373
erica.smith@storagenetworks.com
Schwartz Communications
Barry Mason
Account Supervisor
781/684-0770
bmason@schwartz-pr.com
ADVISORY/StorageNetworks Executives to Present On Data Storage Management Services
(BUSINESS WIRE)--
Executives from StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, will be speaking at and attending conferences and tradeshows throughout May 2001.
StorageNetworks will be presenting at the following conferences during the month of May 2001:
(BUSINESS WIRE)--
Executives from StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, will be speaking at and attending conferences and tradeshows throughout May 2001.
StorageNetworks will be presenting at the following conferences during the month of May 2001:
StorageNetworks jumps on Ford deal, company strength
LOS ANGELES, May 3 (Reuters) - Shares of StorageNetworks (NasdaqNM:STOR - news) on Thursday rose 3 percent even as many top technology stocks were weaker, after the company announced Ford Motor Co. (NYSE:F - news) has signed up for two of its storage packages.
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Financial analysts noted that shares of the stock had fallen sharply in recent months and were regaining ground as the company met expectations.
Shares rose as high as $15 on the Nasdaq, their highest level in nearly three months, and stood at $13.50, up 4 percent in midday trade.
On Wednesday StorageNetworks said it had signed up recent new customer Ford for two of its data storage management services.
``The company puts expectations in the market and continues to meet them,`` said Tim Newington, analyst with Credit Suisse First Boston.
In an environment where many of its customers are cutting costs and technology spending, StorageNetworks has said it can reduce storage costs for its clients by 25 to 30 percent. Analysts say the company`s services also improve utilization.
Shares of StorageNetworks have fallen from last July`s high of $134.38, and hovered between $8 and $14 on the Nasdaq in recent amidst an overarching technology stock sell off.
``The stock had been fairly depressed, although it`s one of the few companies that has performed fairly well from the first quarter to the second quarter,`` said Dan Renouard, analyst with Robert W. Baird & Co.
StorageNetworks`s strength came despite a decline in competitors` stocks. Brocade Communications (NasdaqNM:BRCD - news) slipped 6 percent to $49.96, while EMC Corp. (NYSE:EMC - news) was off nearly 6 percent to $41.44.
LOS ANGELES, May 3 (Reuters) - Shares of StorageNetworks (NasdaqNM:STOR - news) on Thursday rose 3 percent even as many top technology stocks were weaker, after the company announced Ford Motor Co. (NYSE:F - news) has signed up for two of its storage packages.
ADVERTISEMENT
Financial analysts noted that shares of the stock had fallen sharply in recent months and were regaining ground as the company met expectations.
Shares rose as high as $15 on the Nasdaq, their highest level in nearly three months, and stood at $13.50, up 4 percent in midday trade.
On Wednesday StorageNetworks said it had signed up recent new customer Ford for two of its data storage management services.
``The company puts expectations in the market and continues to meet them,`` said Tim Newington, analyst with Credit Suisse First Boston.
In an environment where many of its customers are cutting costs and technology spending, StorageNetworks has said it can reduce storage costs for its clients by 25 to 30 percent. Analysts say the company`s services also improve utilization.
Shares of StorageNetworks have fallen from last July`s high of $134.38, and hovered between $8 and $14 on the Nasdaq in recent amidst an overarching technology stock sell off.
``The stock had been fairly depressed, although it`s one of the few companies that has performed fairly well from the first quarter to the second quarter,`` said Dan Renouard, analyst with Robert W. Baird & Co.
StorageNetworks`s strength came despite a decline in competitors` stocks. Brocade Communications (NasdaqNM:BRCD - news) slipped 6 percent to $49.96, while EMC Corp. (NYSE:EMC - news) was off nearly 6 percent to $41.44.
StorageNetworks Announces STORfusion
StorageNetworks Software Becoming The Industry Standard for Delivering Data Storage Management
Company Signs STORfusion Partner, Fujitsu Limited
WALTHAM, Mass.--(BUSINESS WIRE)--May 14, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced a major new service line-of-business for the company - the STORfusion(SM) service. The new service line enables telecommunications companies and computing, network, and infrastructure-based service providers to rapidly enter the data storage management services market. The STORfusion service will increase StorageNetworks` market leadership position in the data storage management services market. It will also expand StorageNetworks` market reach into new geographic and vertical markets. In a related announcement, StorageNetworks(SM) stated today that Fujitsu Limited, the leading provider of Internet-focused information technology solutions for the global marketplace, has chosen STORfusion as the storage service management platform for their offering in Japan.
The STORfusion service is an opportunity for these service providers to create a significant source of incremental revenue by enabling them to offer data storage management services to their customers, manage their storage infrastructure, increase their levels of service, and improve overall customer satisfaction. Moreover, the STORfusion service enables service providers to improve their cost structure by allowing for the integration of multiple vendor technologies within their infrastructure, thus driving down capital expenditures and further improving performance.
``The StorageNetworks STORfusion service enables service provider customers to tap into the rapidly growing $100 billion storage industry and into what is quickly becoming one of the hottest segments of the IT industry - data storage management services,`` said Doug Chandler, a program manager at International Data Corp. (IDC). ``With the launch of the STORfusion service, StorageNetworks continues to execute on its strategy to deliver a robust and heterogeneous software platform for data storage management.``
The STORfusion service consists of StorageNetworks` software, processes, and 24x7 global monitoring and management capabilities. Specifically, the software includes StorageNetworks STORos(SM) storage operating system, Virtual Storage Portal(SM) (VSP(SM)) storage service management software, and STORvision(SM) command and control software.
``StorageNetworks is one of the few service providers capable of delivering scalable software and a multi-vendor infrastructure to support companies seeking to grow their business in the data storage management services space,`` said Yoshihisa Nagano, Group Executive Vice President, Fujitsu Limited. ``The STORfusion service allows Fujitsu to quickly enhance our presence in the data storage management services market, minimize development expenditures, and fully leverage our existing customer base to offer value-added services.``
``The STORfusion service allows StorageNetworks to leverage our robust, heterogeneous software platform to become the de-facto standard in data storage management. Furthermore, it allows StorageNetworks to significantly broaden our market reach and penetration,`` said Peter Bell, chairman and CEO of StorageNetworks. ``For instance, through our newly announced partnership with Fujitsu, we will be able to accelerate our market penetration in Japan.``
Added Bell, ``Service providers looking to provide data storage management services are faced with even greater complexities than the most sophisticated enterprises. Our STORfusion service not only simplifies data storage management but also accelerates our partners` ability to deliver data storage as a service to their customers.``
STORfusion services are available immediately in the U.S., Europe and the Asia-Pacific region.
StorageNetworks Teleconference / Web Cast
StorageNetworks will host a teleconference / Web cast today Monday, May 14 at 10:00 a.m. EDT, to discuss the new STORfusion service offering. Peter Bell, chairman and CEO, and John Clavin, executive vice president of marketing of StorageNetworks, will discuss the offering in detail.
To join the call, please dial:
US/Canada Dial-In Number: (877) 381-6214
International/Local Dial-In Number: (706) 679-7710
To join the Web cast, please go to our web site at
www.storagenetworks.com.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORfusion, STORos, Virtual Storage Portal, VSP and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman, 781/434-6716
Director, Corporate Communications
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith, 781/434-6373
Director, Investor Relations
erica.smith@storagenetworks.com
or
Schwartz Communications
Barry Mason or Siobhan Gallagher, 781/684-0770
storagenetworks@schwartz-pr.com
StorageNetworks Software Becoming The Industry Standard for Delivering Data Storage Management
Company Signs STORfusion Partner, Fujitsu Limited
WALTHAM, Mass.--(BUSINESS WIRE)--May 14, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced a major new service line-of-business for the company - the STORfusion(SM) service. The new service line enables telecommunications companies and computing, network, and infrastructure-based service providers to rapidly enter the data storage management services market. The STORfusion service will increase StorageNetworks` market leadership position in the data storage management services market. It will also expand StorageNetworks` market reach into new geographic and vertical markets. In a related announcement, StorageNetworks(SM) stated today that Fujitsu Limited, the leading provider of Internet-focused information technology solutions for the global marketplace, has chosen STORfusion as the storage service management platform for their offering in Japan.
The STORfusion service is an opportunity for these service providers to create a significant source of incremental revenue by enabling them to offer data storage management services to their customers, manage their storage infrastructure, increase their levels of service, and improve overall customer satisfaction. Moreover, the STORfusion service enables service providers to improve their cost structure by allowing for the integration of multiple vendor technologies within their infrastructure, thus driving down capital expenditures and further improving performance.
``The StorageNetworks STORfusion service enables service provider customers to tap into the rapidly growing $100 billion storage industry and into what is quickly becoming one of the hottest segments of the IT industry - data storage management services,`` said Doug Chandler, a program manager at International Data Corp. (IDC). ``With the launch of the STORfusion service, StorageNetworks continues to execute on its strategy to deliver a robust and heterogeneous software platform for data storage management.``
The STORfusion service consists of StorageNetworks` software, processes, and 24x7 global monitoring and management capabilities. Specifically, the software includes StorageNetworks STORos(SM) storage operating system, Virtual Storage Portal(SM) (VSP(SM)) storage service management software, and STORvision(SM) command and control software.
``StorageNetworks is one of the few service providers capable of delivering scalable software and a multi-vendor infrastructure to support companies seeking to grow their business in the data storage management services space,`` said Yoshihisa Nagano, Group Executive Vice President, Fujitsu Limited. ``The STORfusion service allows Fujitsu to quickly enhance our presence in the data storage management services market, minimize development expenditures, and fully leverage our existing customer base to offer value-added services.``
``The STORfusion service allows StorageNetworks to leverage our robust, heterogeneous software platform to become the de-facto standard in data storage management. Furthermore, it allows StorageNetworks to significantly broaden our market reach and penetration,`` said Peter Bell, chairman and CEO of StorageNetworks. ``For instance, through our newly announced partnership with Fujitsu, we will be able to accelerate our market penetration in Japan.``
Added Bell, ``Service providers looking to provide data storage management services are faced with even greater complexities than the most sophisticated enterprises. Our STORfusion service not only simplifies data storage management but also accelerates our partners` ability to deliver data storage as a service to their customers.``
STORfusion services are available immediately in the U.S., Europe and the Asia-Pacific region.
StorageNetworks Teleconference / Web Cast
StorageNetworks will host a teleconference / Web cast today Monday, May 14 at 10:00 a.m. EDT, to discuss the new STORfusion service offering. Peter Bell, chairman and CEO, and John Clavin, executive vice president of marketing of StorageNetworks, will discuss the offering in detail.
To join the call, please dial:
US/Canada Dial-In Number: (877) 381-6214
International/Local Dial-In Number: (706) 679-7710
To join the Web cast, please go to our web site at
www.storagenetworks.com.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORfusion, STORos, Virtual Storage Portal, VSP and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman, 781/434-6716
Director, Corporate Communications
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith, 781/434-6373
Director, Investor Relations
erica.smith@storagenetworks.com
or
Schwartz Communications
Barry Mason or Siobhan Gallagher, 781/684-0770
storagenetworks@schwartz-pr.com
StorageNetworks and Fujitsu Enter Into STORfusion Services Agreement
Fujitsu to Leverage StorageNetworks` Software and Technology to Offer Data Storage Management Services in Japan
WALTHAM, Mass.--(BUSINESS WIRE)--May 14, 2001-- StorageNetworks (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced that it has entered into a STORfusion(SM) services agreement with Fujitsu Limited, the leading provider of Internet-focused information technology solutions for the global marketplace. Under terms of the agreement, StorageNetworks(SM) will enable Fujitsu to enhance data storage management services to enterprise customers co-located at Fujitsu and other data centers in Japan.
Fujitsu has chosen the STORfusion service in order to leverage StorageNetworks STORos(SM) storage operating system, Virtual Storage Portal(SM) (VSP(SM)) software, and STORvision(SM) command and control software, as well as 24x7 monitoring capabilities, and customer go-live support in order to deliver fully managed storage services to its customers in Japan. Fujitsu has also selected STORfusion services to help improve its cost structure by allowing for the integration of multiple vendor technologies within its infrastructure, thus driving down capital expenditures and further improving performance.
``By combining our expertise with StorageNetworks and employing their world-class software and methodologies, we will enhance our customers` access to primary SAN- and NAS-based services, as well as back-up and restore services,`` said Yoshihisa Nagano, Group Executive Vice President, Fujitsu Limited. ``Moreover, StorageNetworks` management software will allow us to integrate and centralize the distributed and heterogeneous components of our customers` storage networks - an increasingly complex challenge for enterprises in Japan.``
``The Japanese market is facing dramatic data growth and companies are looking for ways to more effectively manage their storage environment,`` said Peter Bell, chairman and CEO of StorageNetworks. ``Through our relationship with Fujitsu, enterprises in Japan will now have access to data storage management software and services that allow them to improve control over their heterogeneous environments, while lowering their costs in significant and measurable ways. We look forward to working with an industry leader like Fujitsu as we continue to deliver the future of data storage management.``
Data storage management services are available from Fujitsu immediately.
StorageNetworks Teleconference / Web Cast
StorageNetworks will host a teleconference / Web cast today Monday, May 14 at 10:00 a.m. EDT, to discuss the new STORfusion service offering. Peter Bell, chairman and CEO, and John Clavin, executive vice president of marketing of StorageNetworks, will discuss the offering in detail.
To join the call, please dial: US/Canada Dial-In Number: (877) 381-6214 International/Local Dial-In Number: (706) 679-7710
To join the Web cast, please go to our web site at www.storagenetworks.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORfusion, Virtual Storage Portal, VSP, STORos, and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman, 781/434-6716
Director, Corp. Communications
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith, 781/434-6373
Director, Investor Relations
erica.smith@storagenetworks.com
or
Schwartz Communications, Inc
Barry Mason or Siobhan Gallagher, 781/684-0770
bmason@schwartz-pr.com
Fujitsu to Leverage StorageNetworks` Software and Technology to Offer Data Storage Management Services in Japan
WALTHAM, Mass.--(BUSINESS WIRE)--May 14, 2001-- StorageNetworks (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced that it has entered into a STORfusion(SM) services agreement with Fujitsu Limited, the leading provider of Internet-focused information technology solutions for the global marketplace. Under terms of the agreement, StorageNetworks(SM) will enable Fujitsu to enhance data storage management services to enterprise customers co-located at Fujitsu and other data centers in Japan.
Fujitsu has chosen the STORfusion service in order to leverage StorageNetworks STORos(SM) storage operating system, Virtual Storage Portal(SM) (VSP(SM)) software, and STORvision(SM) command and control software, as well as 24x7 monitoring capabilities, and customer go-live support in order to deliver fully managed storage services to its customers in Japan. Fujitsu has also selected STORfusion services to help improve its cost structure by allowing for the integration of multiple vendor technologies within its infrastructure, thus driving down capital expenditures and further improving performance.
``By combining our expertise with StorageNetworks and employing their world-class software and methodologies, we will enhance our customers` access to primary SAN- and NAS-based services, as well as back-up and restore services,`` said Yoshihisa Nagano, Group Executive Vice President, Fujitsu Limited. ``Moreover, StorageNetworks` management software will allow us to integrate and centralize the distributed and heterogeneous components of our customers` storage networks - an increasingly complex challenge for enterprises in Japan.``
``The Japanese market is facing dramatic data growth and companies are looking for ways to more effectively manage their storage environment,`` said Peter Bell, chairman and CEO of StorageNetworks. ``Through our relationship with Fujitsu, enterprises in Japan will now have access to data storage management software and services that allow them to improve control over their heterogeneous environments, while lowering their costs in significant and measurable ways. We look forward to working with an industry leader like Fujitsu as we continue to deliver the future of data storage management.``
Data storage management services are available from Fujitsu immediately.
StorageNetworks Teleconference / Web Cast
StorageNetworks will host a teleconference / Web cast today Monday, May 14 at 10:00 a.m. EDT, to discuss the new STORfusion service offering. Peter Bell, chairman and CEO, and John Clavin, executive vice president of marketing of StorageNetworks, will discuss the offering in detail.
To join the call, please dial: US/Canada Dial-In Number: (877) 381-6214 International/Local Dial-In Number: (706) 679-7710
To join the Web cast, please go to our web site at www.storagenetworks.com.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORfusion, Virtual Storage Portal, VSP, STORos, and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman, 781/434-6716
Director, Corp. Communications
nicole.gorman@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith, 781/434-6373
Director, Investor Relations
erica.smith@storagenetworks.com
or
Schwartz Communications, Inc
Barry Mason or Siobhan Gallagher, 781/684-0770
bmason@schwartz-pr.com
StorageNetworks to Host Conference Call to Discuss STORfusion Services
WALTHAM, Mass.--(BUSINESS WIRE)--May 14, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will host a teleconference / Web cast today Monday, May 14 at 10:00 a.m. EDT, to discuss the new STORfusion(SM) service offering.
Peter Bell, chairman and CEO, and John Clavin, executive vice president of marketing for StorageNetworks(SM), will discuss the offering in detail.
The STORfusion service enables telecommunications companies and computing, network, and infrastructure-based service providers to rapidly enter the data storage management services market and to penetrate the rapidly growing $100 billion data storage industry.
To join the live conference call, please dial:
US/Canada Dial-In Number: (877) 381-6214
International/Local Dial-In Number: (706) 679-7710
To join the Web cast, please go to our Web site at www.storagenetworks.com.
A playback of the call will also be available and accessible from the StorageNetworks Web site.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks and STORfusion are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman, 781/434-6716
Director, Corp. Communications
nicole.gorman@storagenetworks.com
Erica Smith, 781/434-6373
Director, Investor Relations
erica.smith@storagenetworks.com
or
Schwartz Communications, Inc.
Barry Mason, 781/684-0770
Account Supervisor
bmason@schwartz-pr.com
WALTHAM, Mass.--(BUSINESS WIRE)--May 14, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, will host a teleconference / Web cast today Monday, May 14 at 10:00 a.m. EDT, to discuss the new STORfusion(SM) service offering.
Peter Bell, chairman and CEO, and John Clavin, executive vice president of marketing for StorageNetworks(SM), will discuss the offering in detail.
The STORfusion service enables telecommunications companies and computing, network, and infrastructure-based service providers to rapidly enter the data storage management services market and to penetrate the rapidly growing $100 billion data storage industry.
To join the live conference call, please dial:
US/Canada Dial-In Number: (877) 381-6214
International/Local Dial-In Number: (706) 679-7710
To join the Web cast, please go to our Web site at www.storagenetworks.com.
A playback of the call will also be available and accessible from the StorageNetworks Web site.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software and services enable enterprises to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Annual Report on Form 10-K for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks and STORfusion are servicemarks of StorageNetworks, Inc. All other brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Nicole Gorman, 781/434-6716
Director, Corp. Communications
nicole.gorman@storagenetworks.com
Erica Smith, 781/434-6373
Director, Investor Relations
erica.smith@storagenetworks.com
or
Schwartz Communications, Inc.
Barry Mason, 781/684-0770
Account Supervisor
bmason@schwartz-pr.com
StorageNetworks NetPACS Services Named `Product of the Year` by Network Magazine
WALTHAM, Mass.--(BUSINESS WIRE)--May 15, 2001--StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, has been honored with the Network Magazine Product of the Year award in the storage services category for its NetPACS(SM) fully-managed network attached storage (NAS) services. The magazine`s independent review board chose StorageNetworks(SM) NetPACS storage services after over three months of intensive review based on real-world customer business requirements including price/performance, technical ingenuity, new features and applications and serviceability to the market.
One of the longest running product recognition programs of its kind, Network Magazine`s Product of the Year awards are presented annually to those products and services that, according to Editor-in-Chief Steve Steinke, ``are most significant to the Network Magazine reader population.`` The Product of the Year awards cover products and services across both the enterprise and new public network. Other award winners include leading technology innovators such as Computer Associates, Novell, Microsoft, Genuity and Akamai Technologies, Inc.
``We found that many large enterprise customers were looking for the benefits of distributed network attached storage, however they did not have the centralized management, monitoring capabilities, and scalability necessary to fully leverage this technology. StorageNetworks NetPACS services provided the ideal solution,`` said John Clavin, executive vice-president of corporate marketing for StorageNetworks. ``NetPACS services deliver 24x7 monitoring through our Global Operations Center (GOC) and enable customers to control their environments through our Virtual Storage Portal(SM) (VSP(SM)) storage service management software. The VSP software is made possible because it is based on StorageNetworks` STORos(SM), the first storage operating system designed for networked storage.``
NetPACS services provide network attached storage access to files, securely accessed by authorized users. NetPACS services provide the backend infrastructure as well as the expertise, best practices, and proven processes to provide a secure, reliable, scalable, and cost-effective shared storage solution. NetPACS services enable customers to scale their NAS environments for even the most complex data storage requirements.
The NetPACS service is a member of StorageNetworks PACS(SM) (protection, availability, continuity, scalability and security) suite of fully-managed data storage services. Also included in the PACS suite are DataPACS(SM) SAN-based primary data storage services, BackPACS(SM) data backup and restore services, and SafePACS(SM) remote site data replication and business continuity services. StorageNetworks also offers STORmanage(SM) and STORfusion(SM) services. STORmanage data storage services meet enterprise needs by monitoring, operating, and managing customer-owned storage assets within the customer`s data center. The STORfusion service enables telecommunications companies and large computing, network and infrastructure-based service providers to rapidly enter the data storage management services market.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services and an innovator of storage management software. Our technology, software, and services enable enterprises and other service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks, NetPACS, DataPACS, BackPACS, SafePACS, PACS, STORmanage, STORfusion, STORos, Virtual Storage Portal, and VSP are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
Director, Corp. Communications
StorageNetworks, Inc.
781-434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
Investor Relations Director
StorageNetworks, Inc.
781-434-6373
erica.smith@storagenetworks.com
or
Barry Mason
Account Supervisor
Schwartz Communications, Inc.
781-684-0770
bmason@schwartz-pr.com
WALTHAM, Mass.--(BUSINESS WIRE)--May 15, 2001--StorageNetworks, Inc. (NASDAQ:STOR - news), the world`s leading provider of data storage management services, has been honored with the Network Magazine Product of the Year award in the storage services category for its NetPACS(SM) fully-managed network attached storage (NAS) services. The magazine`s independent review board chose StorageNetworks(SM) NetPACS storage services after over three months of intensive review based on real-world customer business requirements including price/performance, technical ingenuity, new features and applications and serviceability to the market.
One of the longest running product recognition programs of its kind, Network Magazine`s Product of the Year awards are presented annually to those products and services that, according to Editor-in-Chief Steve Steinke, ``are most significant to the Network Magazine reader population.`` The Product of the Year awards cover products and services across both the enterprise and new public network. Other award winners include leading technology innovators such as Computer Associates, Novell, Microsoft, Genuity and Akamai Technologies, Inc.
``We found that many large enterprise customers were looking for the benefits of distributed network attached storage, however they did not have the centralized management, monitoring capabilities, and scalability necessary to fully leverage this technology. StorageNetworks NetPACS services provided the ideal solution,`` said John Clavin, executive vice-president of corporate marketing for StorageNetworks. ``NetPACS services deliver 24x7 monitoring through our Global Operations Center (GOC) and enable customers to control their environments through our Virtual Storage Portal(SM) (VSP(SM)) storage service management software. The VSP software is made possible because it is based on StorageNetworks` STORos(SM), the first storage operating system designed for networked storage.``
NetPACS services provide network attached storage access to files, securely accessed by authorized users. NetPACS services provide the backend infrastructure as well as the expertise, best practices, and proven processes to provide a secure, reliable, scalable, and cost-effective shared storage solution. NetPACS services enable customers to scale their NAS environments for even the most complex data storage requirements.
The NetPACS service is a member of StorageNetworks PACS(SM) (protection, availability, continuity, scalability and security) suite of fully-managed data storage services. Also included in the PACS suite are DataPACS(SM) SAN-based primary data storage services, BackPACS(SM) data backup and restore services, and SafePACS(SM) remote site data replication and business continuity services. StorageNetworks also offers STORmanage(SM) and STORfusion(SM) services. STORmanage data storage services meet enterprise needs by monitoring, operating, and managing customer-owned storage assets within the customer`s data center. The STORfusion service enables telecommunications companies and large computing, network and infrastructure-based service providers to rapidly enter the data storage management services market.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services and an innovator of storage management software. Our technology, software, and services enable enterprises and other service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at http://www.StorageNetworks.com, email info@StorageNetworks.com, or call 1-800-463-7105.
StorageNetworks, NetPACS, DataPACS, BackPACS, SafePACS, PACS, STORmanage, STORfusion, STORos, Virtual Storage Portal, and VSP are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
Nicole Gorman
Director, Corp. Communications
StorageNetworks, Inc.
781-434-6716
nicole.gorman@storagenetworks.com
or
Erica Smith
Investor Relations Director
StorageNetworks, Inc.
781-434-6373
erica.smith@storagenetworks.com
or
Barry Mason
Account Supervisor
Schwartz Communications, Inc.
781-684-0770
bmason@schwartz-pr.com
Ich denke, der chart hat seinen Boden gefunden und habe an der US Börse 150 Stk. geordert. ( 19,25$ ) Wenn ich in dieser Zeit nicht kaufe, wann dann ?
StorageNetworks to Power Pihana Pacific`s Storage Management Services in the U.S. and Asia Pacific
Pihana To Offer Storage Management Services To Customers In Los Angeles, Tokyo, Singapore, Hong Kong, Seoul, and Sydney
WALTHAM, Mass. & HONOLULU--(BUSINESS WIRE)--June 11, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, and Pihana Pacific, a world-class business communication enabler, today announced that Pihana will leverage StorageNetworks` STORfusion(SM) services within the U.S. and Asia/Pacific regions. The STORfusion services will enable Pihana to deliver data storage management services to customers co-located at Pihana`s data centers in Los Angeles, Tokyo, Singapore, Hong Kong, Seoul and Sydney.
STORfusion will enable Pihana, with one of the largest footprints in Asia/Pacific, to rapidly deploy data storage management services to its customers and quickly enter the growing global $100 billion ($US) data storage market. Pihana will take advantage of StorageNetworks STORos(SM) storage operating system, Virtual Storage Portal(SM) (VSP(SM)) software and STORvision(SM) command and control software, as well as 24x7 monitoring capabilities and customer go-live support to deliver fully managed data storage services. Pihana Pacific will market six branded services within three core storage product offerings - Pihana Pacific SAN, NAS and Backup & Restore services.
``This agreement is part of our strategy to provide managed services to our customers and build the next breed of IDCs across the underserved Asia/Pacific region,`` said Richard Kalbrener, president and CEO of Pihana. ``Our customers need relief from the cost and complexities of deploying and managing their storage environments. Delivering data storage as a service is a tremendous value for our customers -- allowing them to focus on their core competencies. STORfusion services are best-of-breed and will give us the ability to create a significant new source of revenue by expanding our portfolio of services.``
Pihana`s carrier-neutral, Internet exchange data centers are currently open in Los Angeles, Honolulu, Tokyo and Singapore. The company`s facilities in Seoul, Hong Kong and Sydney are scheduled to open next month, completing Pihana`s seven-market footprint in Asia/Pacific.
``We are thrilled to be working with Pihana to expand our storage management services to the Asia/Pacific region,`` said Peter Bell, chairman and CEO for StorageNetworks. ``Pihana has an extensive footprint of high-quality data centers across Asia and this agreement will allow us to expand our global reach.``
About StorageNetworks STORfusion Service
StorageNetworks STORfusion service enables telecommunications companies and computing, network, and infrastructure-based service providers to rapidly enter the data storage management services market. The STORfusion service is intended to increase StorageNetworks` market leadership position in the data storage management services market and expand StorageNetworks` market reach into new geographic and vertical markets.
The STORfusion service is an opportunity for telecommunications companies and service providers to create a significant source of incremental revenue by enabling them to offer data storage management services to their customers, manage their storage infrastructure, increase their levels of service, and improve overall customer satisfaction. Moreover, the STORfusion service enables service providers to improve their cost structure by allowing for the integration of multiple vendor technologies within their infrastructure, thus driving down capital expenditures and further improving performance.
About Pihana Pacific
Founded in January 2000, Pihana Pacific is a world-class business communication enabler and the first company to build, brand and manage neutral Internet exchange data centers in Asia/Pacific. Pihana Pacific has raised $236 million in private equity funding since being founded. This includes $190 million in October of 2000 with one of the largest private equity financing rounds in Asian history, with lead investor Goldman Sachs. Pihana`s other world class investors consist of Morgan Stanley Dean Witter Private Equity, LoneTree Capital, UBS Capital, GE Capital Telecom, Mori Building Co., Ltd, Hewlett-Packard, PacifiCap Group, Nifco investments and Pihana`s founding investor Columbia Capital. Headquartered in Honolulu, Pihana`s Asia/Pacific presence includes a regional headquarters and network operations centre in Singapore, a regional executive centre in Hong Kong and sales offices in Tokyo, Seoul, Taipei, Sydney, San Francisco and Los Angeles. Pihana is a Hawaiian word meaning ``fullness`` and ``completion`` associated with a gathering. For more information, please visit www.pihana.com.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the factors described in its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORfusion, STORos, Virtual Storage Portal, VSP, and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
For StorageNetworks:
StorageNetworks, Inc.
Susan Frankle, 781/434-6705
Sr. Director, Corporate Marketing
susan.frankle@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith, 781/434-6373
Director, Investor Relations
erica.smith@storagenetworks.com
or
Schwartz Communications
Barry Mason / Siobhan Gallagher, 781/684-0770
storagenetworks@schwartz-pr.com
or
For Pihana:
Pihana Pacific
Linda Brock, 808/528-7500
Director, Marketing Communication
lbrock@pihana.com
or
Text 100 Public Relations
Anne Taylor / Michelle Homes, 206/381-3791
pihana@text100.com
or
(Asia/Pacific)
Text 100 Public Relations
Jason Gordon, 852/2167-8311
jasong@text100.com
Pihana To Offer Storage Management Services To Customers In Los Angeles, Tokyo, Singapore, Hong Kong, Seoul, and Sydney
WALTHAM, Mass. & HONOLULU--(BUSINESS WIRE)--June 11, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, and Pihana Pacific, a world-class business communication enabler, today announced that Pihana will leverage StorageNetworks` STORfusion(SM) services within the U.S. and Asia/Pacific regions. The STORfusion services will enable Pihana to deliver data storage management services to customers co-located at Pihana`s data centers in Los Angeles, Tokyo, Singapore, Hong Kong, Seoul and Sydney.
STORfusion will enable Pihana, with one of the largest footprints in Asia/Pacific, to rapidly deploy data storage management services to its customers and quickly enter the growing global $100 billion ($US) data storage market. Pihana will take advantage of StorageNetworks STORos(SM) storage operating system, Virtual Storage Portal(SM) (VSP(SM)) software and STORvision(SM) command and control software, as well as 24x7 monitoring capabilities and customer go-live support to deliver fully managed data storage services. Pihana Pacific will market six branded services within three core storage product offerings - Pihana Pacific SAN, NAS and Backup & Restore services.
``This agreement is part of our strategy to provide managed services to our customers and build the next breed of IDCs across the underserved Asia/Pacific region,`` said Richard Kalbrener, president and CEO of Pihana. ``Our customers need relief from the cost and complexities of deploying and managing their storage environments. Delivering data storage as a service is a tremendous value for our customers -- allowing them to focus on their core competencies. STORfusion services are best-of-breed and will give us the ability to create a significant new source of revenue by expanding our portfolio of services.``
Pihana`s carrier-neutral, Internet exchange data centers are currently open in Los Angeles, Honolulu, Tokyo and Singapore. The company`s facilities in Seoul, Hong Kong and Sydney are scheduled to open next month, completing Pihana`s seven-market footprint in Asia/Pacific.
``We are thrilled to be working with Pihana to expand our storage management services to the Asia/Pacific region,`` said Peter Bell, chairman and CEO for StorageNetworks. ``Pihana has an extensive footprint of high-quality data centers across Asia and this agreement will allow us to expand our global reach.``
About StorageNetworks STORfusion Service
StorageNetworks STORfusion service enables telecommunications companies and computing, network, and infrastructure-based service providers to rapidly enter the data storage management services market. The STORfusion service is intended to increase StorageNetworks` market leadership position in the data storage management services market and expand StorageNetworks` market reach into new geographic and vertical markets.
The STORfusion service is an opportunity for telecommunications companies and service providers to create a significant source of incremental revenue by enabling them to offer data storage management services to their customers, manage their storage infrastructure, increase their levels of service, and improve overall customer satisfaction. Moreover, the STORfusion service enables service providers to improve their cost structure by allowing for the integration of multiple vendor technologies within their infrastructure, thus driving down capital expenditures and further improving performance.
About Pihana Pacific
Founded in January 2000, Pihana Pacific is a world-class business communication enabler and the first company to build, brand and manage neutral Internet exchange data centers in Asia/Pacific. Pihana Pacific has raised $236 million in private equity funding since being founded. This includes $190 million in October of 2000 with one of the largest private equity financing rounds in Asian history, with lead investor Goldman Sachs. Pihana`s other world class investors consist of Morgan Stanley Dean Witter Private Equity, LoneTree Capital, UBS Capital, GE Capital Telecom, Mori Building Co., Ltd, Hewlett-Packard, PacifiCap Group, Nifco investments and Pihana`s founding investor Columbia Capital. Headquartered in Honolulu, Pihana`s Asia/Pacific presence includes a regional headquarters and network operations centre in Singapore, a regional executive centre in Hong Kong and sales offices in Tokyo, Seoul, Taipei, Sydney, San Francisco and Los Angeles. Pihana is a Hawaiian word meaning ``fullness`` and ``completion`` associated with a gathering. For more information, please visit www.pihana.com.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Except for the historical information contained in this announcement, the matters discussed in this announcement are or may contain ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that involve risks and uncertainties as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the factors described in its Quarterly Report on Form 10-Q dated May 11, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks, STORfusion, STORos, Virtual Storage Portal, VSP, and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
For StorageNetworks:
StorageNetworks, Inc.
Susan Frankle, 781/434-6705
Sr. Director, Corporate Marketing
susan.frankle@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith, 781/434-6373
Director, Investor Relations
erica.smith@storagenetworks.com
or
Schwartz Communications
Barry Mason / Siobhan Gallagher, 781/684-0770
storagenetworks@schwartz-pr.com
or
For Pihana:
Pihana Pacific
Linda Brock, 808/528-7500
Director, Marketing Communication
lbrock@pihana.com
or
Text 100 Public Relations
Anne Taylor / Michelle Homes, 206/381-3791
pihana@text100.com
or
(Asia/Pacific)
Text 100 Public Relations
Jason Gordon, 852/2167-8311
jasong@text100.com
StorageNetworks Reiterated `Buy` at Needham & Co.
By Lindsey Mackay
Princeton, New Jersey, June 18 (Bloomberg Data) -- StorageNetworks Inc. (STOR US) was reiterated ``buy`` by analyst Glenn Hanus at Needham & Co. The 12-month target price is $25.00 per share.
By Lindsey Mackay
Princeton, New Jersey, June 18 (Bloomberg Data) -- StorageNetworks Inc. (STOR US) was reiterated ``buy`` by analyst Glenn Hanus at Needham & Co. The 12-month target price is $25.00 per share.
StorageNetworks Announces Litigation Against Metromedia Fiber Network Services
WALTHAM, Mass.--(BUSINESS WIRE)--July 11, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, announced today that it has filed suit against Metromedia Fiber Network Services, Inc. (NASDAQ: MFNX - news) of White Plains, NY.
The suit, filed in Middlesex Superior Court in Massachusetts (Case No. 01-2898), seeks relief for breach of contract, misrepresentation and unfair and deceptive trade practices because Metromedia failed to provide the fiber optic capacity required by a fiber optic lease agreement between the two companies. StorageNetworks seeks a declaratory judgment, partial rescission of its agreement with Metromedia, and damages. StorageNetworks intends to honor its existing fiber lease commitments with Metromedia. The suit relates only to the lease of additional fiber optic capacity.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
WALTHAM, Mass.--(BUSINESS WIRE)--July 11, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, announced today that it has filed suit against Metromedia Fiber Network Services, Inc. (NASDAQ: MFNX - news) of White Plains, NY.
The suit, filed in Middlesex Superior Court in Massachusetts (Case No. 01-2898), seeks relief for breach of contract, misrepresentation and unfair and deceptive trade practices because Metromedia failed to provide the fiber optic capacity required by a fiber optic lease agreement between the two companies. StorageNetworks seeks a declaratory judgment, partial rescission of its agreement with Metromedia, and damages. StorageNetworks intends to honor its existing fiber lease commitments with Metromedia. The suit relates only to the lease of additional fiber optic capacity.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
StorageNetworks, Inc.
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks faces rough road, new competition
By Tim McLaughlin
BOSTON, July 17 (Reuters) - StorageNetworks Inc., a small firm whose gold-plated backing and EMC Corp. (NYSE:EMC - news)pedigree once launched its stock into orbit, faces a rough second half as the data-storage industry reels under plummeting profits and new competitive challenges.
A year ago shares of StorageNetworks (NasdaqNM:STOR - news) shot up to $115 as it spent freely to build a network of data centers that rented storage space to companies.
Now, despite its management team of former EMC executives, StorageNetworks` stock traded at $9.02 on Tuesday afternoon, down more than 90 percent during the past year, erasing about $9 billion in shareholder value.
Chief Executive Peter Bell is a former EMC executive and two of its largest individual shareholders include EMC co-founder Roger Marino and Harold Dixon, a former top sales executive at EMC.
The sector`s troubles have also hit EMC itself, whose shares have slipped 27 percent in the past month to a little over $20, far off their 52-week high of $104.93.
Investors are waiting to see how much StorageNetworks trims its revenue outlook when it reports second-quarter results on Thursday. During the past few months, one of the firm`s largest institutional shareholders, Goldman Sachs Group Inc.(NYSE:GS - news), has dumped 2.5 million of the 11.1 million shares it held in the company, according to U.S. Securities and Exchange Commission filings.
If that doesn`t make investors jittery, Forrester Research analyst Joe Butt said the data-storage industry is facing pressure from giant consulting firms such as Electronic Data Systems Corp.(NYSE:EDS - news) that are increasingly acting as middlemen between corporations and sellers of storage.
The emergence of large strategy consultants in the storage industry threatens to exacerbate already cutthroat price competition with potentially devastating consequences in an industry used to sky-high margins. Industry leader EMC Corp., for example, has slashed its outlook twice in four months after enjoying a decade-long boom.
``Selling directly to the (corporation) is much tougher,`` Butt said. ``There`s more people between them and the eventual client. (Storage firms) are playing second fiddle to the strategy guys.``
These trends spell trouble for StorageNetworks and the rest of an industry grown accustomed to heady profit margins.
Dain Rauscher Wessels analyst Cynthia Houlton said she does not expect StorageNetworks to post positive cash earnings until the fourth quarter of 2002, according to a recent research note to investors.
Besides experience, Houlton said the company has enough money to reach profitability, about $375 million at the end of the first quarter.
She also last week downgraded the firm`s stock to neutral and cut her 2001 revenue estimate by 10 percent to $138.5 million. She cut the firm`s 2002 revenue outlook by about 21 percent.
By Tim McLaughlin
BOSTON, July 17 (Reuters) - StorageNetworks Inc., a small firm whose gold-plated backing and EMC Corp. (NYSE:EMC - news)pedigree once launched its stock into orbit, faces a rough second half as the data-storage industry reels under plummeting profits and new competitive challenges.
A year ago shares of StorageNetworks (NasdaqNM:STOR - news) shot up to $115 as it spent freely to build a network of data centers that rented storage space to companies.
Now, despite its management team of former EMC executives, StorageNetworks` stock traded at $9.02 on Tuesday afternoon, down more than 90 percent during the past year, erasing about $9 billion in shareholder value.
Chief Executive Peter Bell is a former EMC executive and two of its largest individual shareholders include EMC co-founder Roger Marino and Harold Dixon, a former top sales executive at EMC.
The sector`s troubles have also hit EMC itself, whose shares have slipped 27 percent in the past month to a little over $20, far off their 52-week high of $104.93.
Investors are waiting to see how much StorageNetworks trims its revenue outlook when it reports second-quarter results on Thursday. During the past few months, one of the firm`s largest institutional shareholders, Goldman Sachs Group Inc.(NYSE:GS - news), has dumped 2.5 million of the 11.1 million shares it held in the company, according to U.S. Securities and Exchange Commission filings.
If that doesn`t make investors jittery, Forrester Research analyst Joe Butt said the data-storage industry is facing pressure from giant consulting firms such as Electronic Data Systems Corp.(NYSE:EDS - news) that are increasingly acting as middlemen between corporations and sellers of storage.
The emergence of large strategy consultants in the storage industry threatens to exacerbate already cutthroat price competition with potentially devastating consequences in an industry used to sky-high margins. Industry leader EMC Corp., for example, has slashed its outlook twice in four months after enjoying a decade-long boom.
``Selling directly to the (corporation) is much tougher,`` Butt said. ``There`s more people between them and the eventual client. (Storage firms) are playing second fiddle to the strategy guys.``
These trends spell trouble for StorageNetworks and the rest of an industry grown accustomed to heady profit margins.
Dain Rauscher Wessels analyst Cynthia Houlton said she does not expect StorageNetworks to post positive cash earnings until the fourth quarter of 2002, according to a recent research note to investors.
Besides experience, Houlton said the company has enough money to reach profitability, about $375 million at the end of the first quarter.
She also last week downgraded the firm`s stock to neutral and cut her 2001 revenue estimate by 10 percent to $138.5 million. She cut the firm`s 2002 revenue outlook by about 21 percent.
Hi,
scheint ja kein großes interesse mehr zu besteh.
Ist schon komisch da übertrifft Storage die Erwartungen der Analysten und fällt trotztdem weiter und weiter.
Momentan scheint diese Branche an einem wirklichen Vertrauensverlust zu leiden. Auf ein Jahres Sicht sollte es sich jedoch um nen gutes Investment handeln wenn man jetzt eine Bodenbildung abwartet und dann einsteigt. Das Potential was die Aktie in guten Börsenzeiten hat kann man ja im Chart sehen. Seit dem Höchstand wurden nämlich alle Analystenprognosen übertroffen. Natürlich werden wir diese alten Höchststände nicht wieder sehen, doch 20 $ sollten durchaus machbar sein wenn die Börse dreht und Storage weiter seine Prognosen einhält.
scheint ja kein großes interesse mehr zu besteh.
Ist schon komisch da übertrifft Storage die Erwartungen der Analysten und fällt trotztdem weiter und weiter.
Momentan scheint diese Branche an einem wirklichen Vertrauensverlust zu leiden. Auf ein Jahres Sicht sollte es sich jedoch um nen gutes Investment handeln wenn man jetzt eine Bodenbildung abwartet und dann einsteigt. Das Potential was die Aktie in guten Börsenzeiten hat kann man ja im Chart sehen. Seit dem Höchstand wurden nämlich alle Analystenprognosen übertroffen. Natürlich werden wir diese alten Höchststände nicht wieder sehen, doch 20 $ sollten durchaus machbar sein wenn die Börse dreht und Storage weiter seine Prognosen einhält.
@moertel
stor ist ein klarer kauf im moment!
bin leider zu früh eingestiegen bei 7$
aber ich erinnere euch daran das stor vor ca 3 monaten ,innerhalb von 1 monat von 7$ bis auf 23$ stieg!
und wie gesagt zahlen waren über den erwartungen!
strong buy
ciena
stor ist ein klarer kauf im moment!
bin leider zu früh eingestiegen bei 7$
aber ich erinnere euch daran das stor vor ca 3 monaten ,innerhalb von 1 monat von 7$ bis auf 23$ stieg!
und wie gesagt zahlen waren über den erwartungen!
strong buy
ciena
@ciena
schön das jemand der gleichen meinung ist.
nun ist nur noch abzuwarten wann der umschwung kommt.
hast du eine aussage von storage zum nächsten quartal
gefunden, aussichten etc.
schaut man sich die bewertung des Unternehmens an:
Market Cap: 611,549 $
und KUV von 6
bei einem quartalswachstum von über 20% !!! kann man nur
sagen ein klarer Kauf
schön das jemand der gleichen meinung ist.
nun ist nur noch abzuwarten wann der umschwung kommt.
hast du eine aussage von storage zum nächsten quartal
gefunden, aussichten etc.
schaut man sich die bewertung des Unternehmens an:
Market Cap: 611,549 $
und KUV von 6
bei einem quartalswachstum von über 20% !!! kann man nur
sagen ein klarer Kauf
moertel
das mit den aussichten stand glaub ich in den letzten zahlen!
hab heute nochmal nachgekauft
viel glück
ciena
das mit den aussichten stand glaub ich in den letzten zahlen!
hab heute nochmal nachgekauft
viel glück
ciena
stor+7%
+9%!!!
juchuuuuuu schon +16%
und wieder +
nachbörslich schon 6,69$!!!
morgen könnten die 7$ durchbrochen werden
ciena
nachbörslich schon 6,69$!!!
morgen könnten die 7$ durchbrochen werden
ciena
sieht echt ganz gut aus.
könnte mir vorstellen das wir jetzt die tiefststände gesehen haben.
ist hier eigentlich jemand im board der vielleicht schon einmal mit der storage technologie gearbeitet hat oder sonst irgendwie mit datenverwaltung/-lagerung zu tun hat so das er vielleicht mal einen kurzen bericht hier rein stellen kann ?
denn manchmal ist so ein bericht schließlich viel aufschlußreicher als ne analyse einer aktie aufgrund von analysteneinschätzungen und kgv`s etc
könnte mir vorstellen das wir jetzt die tiefststände gesehen haben.
ist hier eigentlich jemand im board der vielleicht schon einmal mit der storage technologie gearbeitet hat oder sonst irgendwie mit datenverwaltung/-lagerung zu tun hat so das er vielleicht mal einen kurzen bericht hier rein stellen kann ?
denn manchmal ist so ein bericht schließlich viel aufschlußreicher als ne analyse einer aktie aufgrund von analysteneinschätzungen und kgv`s etc
Es gibt auch seit neustem eine deutsche Homepage von STOR
http://www.storagenetworks.com/content/germany/germany_home.…
http://www.storagenetworks.com/content/germany/germany_home.…
sieht verdammt gut aus
vorbörslich fast 7$
7$ ist gecknakt!!!
aktuell 7,06$
sieht sehr gut aus
ciena
aktuell 7,06$
sieht sehr gut aus
ciena
StorageNetworks and Brocade Expand Alliance to Provide Comprehensive SAN Technology and Services
StorageNetworks to Test Brocade SilkWorm 12000 Core Fabric Switch on Storage Management Platform
WALTHAM, Mass. & SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 7, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, and Brocade Communications Systems (NASDAQ: BRCD - news; Brocade®) announced today an expansion of the relationship between the two companies that will provide even more comprehensive SAN technology and services to enterprise customers. StorageNetworks also announced plans to test and certify the next-generation Brocade Core Fabric Switch, the Brocade SilkWorm 12000 for compatibility with StorageNetworks STORos operating system. StorageNetworks currently uses Brocade SAN infrastructure in the delivery of its data storage management services and has tested and certified interoperability of its STORos operating system with the Brocade SilkWorm® 2000 family of fabric switches.
Enterprise SAN customers will benefit from the combination of Brocade`s scalable, reliable networking foundation for storage environments and StorageNetworks` robust multi-vendor storage management software and services. According to Doug Chandler of IDC, ``This is a smart alliance for both StorageNetworks and Brocade. Most importantly, customers will benefit from the expertise of these two industry leaders, and their ability to help enterprises efficiently migrate to SANs.``
``Our teams have worked closely for the past two years to speed the deployment and enhance the manageability of multi-vendor SANs,`` said Peter Bell, Chairman and CEO of StorageNetworks. ``This effort is dramatically improving the management efficiencies and significantly reducing overall costs in large enterprise storage environments.``
``As the deployments of storage area networks scale larger and as customers internetwork SANs across longer distances using DWDM and optical technologies, the ability to centralize management of the storage environment becomes critical,`` said Greg Reyes, Brocade Chairman and CEO. ``We are pleased to work with StorageNetworks to allow our joint customers to take advantage of the benefits of managed storage services.``
The STORos operating system is the industry`s first storage-specific operating system, integrating and centralizing the distributed and heterogeneous management elements of a storage network. The STORos operating system provides a common structure that unifies storage resources through defined interfaces for information exchange, control, and management. Additionally, it is the underlying operating system that supports StorageNetworks` innovative storage management software - the Virtual Storage Portal software and STORvision command and control software.
The Brocade SilkWorm 12000, announced earlier this year, will be available in 64-port and 128-port configurations and expands the capabilities of storage environments with 2 Gigabit per second (Gb/s) Fibre Channel support and is extensible to support both IP and emerging InfiniBand networks. Brocade SilkWorm fabric switches provide the world`s leading intelligent networking foundation for Storage Area Networks (SANs). Using Brocade fabric switches, customers can connect servers with storage devices through a SAN, creating a highly reliable and manageable environment for storage applications.
About Brocade Communications Systems, Inc.
Brocade (NASDAQ: BRCD - news) offers the industry`s leading intelligent platform for networking storage. The world`s leading systems, applications, and storage vendors have selected Brocade to provide a networking foundation for their SAN solutions. The Brocade SilkWorm® family of fabric switches and software is designed to optimize data availability and storage and server resources in the enterprise. Using Brocade solutions, companies can simplify the implementation of storage area networks, reduce the total cost of ownership of data storage environments, and improve network and application efficiency. For more information, visit the Brocade website at www.brocade.com or contact the company at info@brocade.com.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit ourWeb site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
Brocade, Extended Fabrics, Fabric Aware, Fabric Integrator, Fabric OS, Fabric Threads, Fabric Watch, Fabric Weaver, QuickLoop, SilkWorm, SilkWorm Express, and SOLUTIONware are trademarks or registered trademarks of Brocade Communications Systems Inc., in the United States and/or in other countries. StorageNetworks, STORos, Virtual Storage Portal, VSP, and STORvision are servicemarks of StorageNetworks, Inc. All other brands, products, or service names are or may be trademarks or service marks of, and are used to identify, products or services of their respective owners.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
or
Brocade Communications Systems, Inc.
Fenella Tigner
408/392-6843
ftigner@brocade.com
or
Bill Murphy
408/487-8022
investor-relations@brocade.com
StorageNetworks to Test Brocade SilkWorm 12000 Core Fabric Switch on Storage Management Platform
WALTHAM, Mass. & SAN JOSE, Calif.--(BUSINESS WIRE)--Aug. 7, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, and Brocade Communications Systems (NASDAQ: BRCD - news; Brocade®) announced today an expansion of the relationship between the two companies that will provide even more comprehensive SAN technology and services to enterprise customers. StorageNetworks also announced plans to test and certify the next-generation Brocade Core Fabric Switch, the Brocade SilkWorm 12000 for compatibility with StorageNetworks STORos operating system. StorageNetworks currently uses Brocade SAN infrastructure in the delivery of its data storage management services and has tested and certified interoperability of its STORos operating system with the Brocade SilkWorm® 2000 family of fabric switches.
Enterprise SAN customers will benefit from the combination of Brocade`s scalable, reliable networking foundation for storage environments and StorageNetworks` robust multi-vendor storage management software and services. According to Doug Chandler of IDC, ``This is a smart alliance for both StorageNetworks and Brocade. Most importantly, customers will benefit from the expertise of these two industry leaders, and their ability to help enterprises efficiently migrate to SANs.``
``Our teams have worked closely for the past two years to speed the deployment and enhance the manageability of multi-vendor SANs,`` said Peter Bell, Chairman and CEO of StorageNetworks. ``This effort is dramatically improving the management efficiencies and significantly reducing overall costs in large enterprise storage environments.``
``As the deployments of storage area networks scale larger and as customers internetwork SANs across longer distances using DWDM and optical technologies, the ability to centralize management of the storage environment becomes critical,`` said Greg Reyes, Brocade Chairman and CEO. ``We are pleased to work with StorageNetworks to allow our joint customers to take advantage of the benefits of managed storage services.``
The STORos operating system is the industry`s first storage-specific operating system, integrating and centralizing the distributed and heterogeneous management elements of a storage network. The STORos operating system provides a common structure that unifies storage resources through defined interfaces for information exchange, control, and management. Additionally, it is the underlying operating system that supports StorageNetworks` innovative storage management software - the Virtual Storage Portal software and STORvision command and control software.
The Brocade SilkWorm 12000, announced earlier this year, will be available in 64-port and 128-port configurations and expands the capabilities of storage environments with 2 Gigabit per second (Gb/s) Fibre Channel support and is extensible to support both IP and emerging InfiniBand networks. Brocade SilkWorm fabric switches provide the world`s leading intelligent networking foundation for Storage Area Networks (SANs). Using Brocade fabric switches, customers can connect servers with storage devices through a SAN, creating a highly reliable and manageable environment for storage applications.
About Brocade Communications Systems, Inc.
Brocade (NASDAQ: BRCD - news) offers the industry`s leading intelligent platform for networking storage. The world`s leading systems, applications, and storage vendors have selected Brocade to provide a networking foundation for their SAN solutions. The Brocade SilkWorm® family of fabric switches and software is designed to optimize data availability and storage and server resources in the enterprise. Using Brocade solutions, companies can simplify the implementation of storage area networks, reduce the total cost of ownership of data storage environments, and improve network and application efficiency. For more information, visit the Brocade website at www.brocade.com or contact the company at info@brocade.com.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit ourWeb site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
Brocade, Extended Fabrics, Fabric Aware, Fabric Integrator, Fabric OS, Fabric Threads, Fabric Watch, Fabric Weaver, QuickLoop, SilkWorm, SilkWorm Express, and SOLUTIONware are trademarks or registered trademarks of Brocade Communications Systems Inc., in the United States and/or in other countries. StorageNetworks, STORos, Virtual Storage Portal, VSP, and STORvision are servicemarks of StorageNetworks, Inc. All other brands, products, or service names are or may be trademarks or service marks of, and are used to identify, products or services of their respective owners.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
or
Brocade Communications Systems, Inc.
Fenella Tigner
408/392-6843
ftigner@brocade.com
or
Bill Murphy
408/487-8022
investor-relations@brocade.com
Storagenetworks bei 6 euro, ich lach mich kaputt!!
Die hat der "Bernd Dausend Förtsch" im Mai noch für 25euro empfohlen......
Das einzig blöde an Stor ist halt, dass die so viel Verluste machen
KUV 5
Cash laut Yahoo. 329Mil$
Phantasie bis zum Break-Even ist da, denke mal,dass ich ein paar kaufen werde, da kann nicht mehr viel passieren.
Die hat der "Bernd Dausend Förtsch" im Mai noch für 25euro empfohlen......
Das einzig blöde an Stor ist halt, dass die so viel Verluste machen
KUV 5
Cash laut Yahoo. 329Mil$
Phantasie bis zum Break-Even ist da, denke mal,dass ich ein paar kaufen werde, da kann nicht mehr viel passieren.
matthiasch
du hast keine ahnung
klar machen sie verluste
ABER stor wächst sehr stark!
du hast keine ahnung
klar machen sie verluste
ABER stor wächst sehr stark!
StorageNetworks Reiterates Revenue Guidance for 2001
CEO Peter Bell Confirms Company Will Meet Gross Margin Profitability Timeframe^
WALTHAM, Mass.--(BUSINESS WIRE)--Sept. 6, 2001--Peter Bell, President of StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, presented details of the company`s continued focus on selling to enterprise customers, along with the StorageNetworks` ongoing storage management software development at the most recent Salomon Smith Barney investor conference held Tuesday, September 4, 2001 in New York, NY, which was webcast at www.storagenetworks.com in the investor relations section and a replay can be viewed from the same location.
At the conference, Bell reiterated the company`s revenue guidance in the range of $120 million to $127 million for 2001. In addition, he again confirmed that StorageNetworks will achieve gross margin profitability in Q3 2001.
``StorageNetworks is on a clear and steady path to achieve our financial goals and reach our gross margin profitability metrics in line with our guidance. Despite these challenging economic times, our enterprise customers and service providers, such as Ford, Merrill Lynch, Sun Microsystems, and Fujitsu, are responding positively to our storage management software which is delivered as a service across multiple vendor devices,`` said Bell.
According to Bell, ``The bottom line is this: As enterprises migrate toward networked environments, customers need the storage management tools that will increase efficiencies, drive out costs, and significantly reduce the complexities inherent in any large storage IT environment. StorageNetworks is delivering those tools to over 200 customers today,`` he said.
Bell will be presenting the benefits of StorageNetworks` software and services to enterprise customers at SG Cowen`s 29th annual fall technology conference on Friday, September 7, 2001 at 9:30 am in Boston, MA. A webcast of this event will be available on http://www.storagenetworks.com in the investor relations section.
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
Director, Public Relations
781-622-6512
Jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781-622-6373
CEO Peter Bell Confirms Company Will Meet Gross Margin Profitability Timeframe^
WALTHAM, Mass.--(BUSINESS WIRE)--Sept. 6, 2001--Peter Bell, President of StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, presented details of the company`s continued focus on selling to enterprise customers, along with the StorageNetworks` ongoing storage management software development at the most recent Salomon Smith Barney investor conference held Tuesday, September 4, 2001 in New York, NY, which was webcast at www.storagenetworks.com in the investor relations section and a replay can be viewed from the same location.
At the conference, Bell reiterated the company`s revenue guidance in the range of $120 million to $127 million for 2001. In addition, he again confirmed that StorageNetworks will achieve gross margin profitability in Q3 2001.
``StorageNetworks is on a clear and steady path to achieve our financial goals and reach our gross margin profitability metrics in line with our guidance. Despite these challenging economic times, our enterprise customers and service providers, such as Ford, Merrill Lynch, Sun Microsystems, and Fujitsu, are responding positively to our storage management software which is delivered as a service across multiple vendor devices,`` said Bell.
According to Bell, ``The bottom line is this: As enterprises migrate toward networked environments, customers need the storage management tools that will increase efficiencies, drive out costs, and significantly reduce the complexities inherent in any large storage IT environment. StorageNetworks is delivering those tools to over 200 customers today,`` he said.
Bell will be presenting the benefits of StorageNetworks` software and services to enterprise customers at SG Cowen`s 29th annual fall technology conference on Friday, September 7, 2001 at 9:30 am in Boston, MA. A webcast of this event will be available on http://www.storagenetworks.com in the investor relations section.
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
Director, Public Relations
781-622-6512
Jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781-622-6373
Thursday September 6, 9:41 am Eastern Time
StorageNetworks reiterates revenue forecast
WALTHAM, Mass., Sept 6 (Reuters) - StorageNetworks Inc. (NasdaqNM:STOR - news), the leading global provider of data storage management services, reiterated its revenue forecast for 2001, in the range of $120 million to $127 million, and said it expects to achieve positive gross margins in the third quarter.
The company said in a statement that President Peter Bell reiterated the guidance at an investor conference held on Tuesday, Sept. 4.
At the conference, Bell said, ``StorageNetworks is on a clear and steady path to achieve our financial goals and reach our gross margin profitability metrics in line with our guidance. Despite these challenging economic times, our enterprise customers and service providers, such as Ford, Merrill Lynch, Sun Microsystems, and Fujitsu, are responding positively to our storage management software which is delivered as a service across multiple vendor devices.``
StorageNetworks reiterates revenue forecast
WALTHAM, Mass., Sept 6 (Reuters) - StorageNetworks Inc. (NasdaqNM:STOR - news), the leading global provider of data storage management services, reiterated its revenue forecast for 2001, in the range of $120 million to $127 million, and said it expects to achieve positive gross margins in the third quarter.
The company said in a statement that President Peter Bell reiterated the guidance at an investor conference held on Tuesday, Sept. 4.
At the conference, Bell said, ``StorageNetworks is on a clear and steady path to achieve our financial goals and reach our gross margin profitability metrics in line with our guidance. Despite these challenging economic times, our enterprise customers and service providers, such as Ford, Merrill Lynch, Sun Microsystems, and Fujitsu, are responding positively to our storage management software which is delivered as a service across multiple vendor devices.``
Monday September 17, 1:55 pm Eastern Time
Disaster recovery stocks soar as Wall St rebuilds
NEW YORK, Sept 17 (Reuters) - Shares in disaster recovery and data storage companies rose sharply on Monday as investors bet that such businesses would be boosted by companies rebuilding after attacks leveled the World Trade Center and shut down the financial district last week.
ADVERTISEMENT
Among the companies bucking the overall market slump on the first day of trading since last week`s attack were SunGard Data Systems (NYSE:SDS - news), Comdisco Inc. (NYSE:CDO - news) and Iron Mountain Inc. (NYSE:IRM - news).
Data storage companies StorageNetworks (NasdaqNM:STOR - news) and EMC Corp. (NYSE:EMC - news) also rose.
``Anything that is sort of security-related or back-up related is up. That shouldn`t be a surprise to anyone,`` said Andrew Jeffrey, an analyst at Robertson Stephens.
The overall market was posting sharp losses, with the Dow Jones industrial average off 670 points, or 7 percent, and the tech-heavy Nasdaq down 101 points, or 6 percent.
Comdisco, which filed for bankruptcy this summer, and SunGard both have services businesses that focus on getting customers that have been through a disaster up and running again in new offices. That can mean providing new equipment, securing office space or restoring data.
Comdisco, based in Rosemont, Illinois, said last week it had 23 customers who had requested services. SunGard, based in Wayne, Pennsylvania, said it had 22 disaster efforts underway.
SunGard shares were trading at $25.36, up 9.08 percent, or $2.11. Comdisco, rose 6 cents, or 9.4 percent, to 70 cents, far from its 52-week high of $24.25.
Jeffrey noted that the gains in SunGard on Monday may have been overdone. Business continuity, as disaster recovery is often known, accounted for about 25 percent of revenues in 2000 compared with the 73 percent of revenues that came from other services to the financial industry.
``We`re recommending that investors don`t chase the stock. We`d like to see what the quarter looks like and we`d like the company to quantify the effect of the disaster recovery,`` Jeffrey said.
Boston-based Iron Mountain, meanwhile, specializes in data storage and recovery. The company has locations around the country, including some underground, where it stores back-up data for its customers. The company said last week that it had 33 customers in the World Trade Center towers.
Its shares rose 6 percent, or $2.45, to $43.30 on Monday.
One company with a significant disaster recovery business that wasn`t gaining on Monday was International Business Machines Corp. (NYSE:IBM - news), which instead was falling with the overall downward trend of technology stocks.
Data storage company StorageNetworks (NasdaqNM:STOR - news), which can help companies recreate lost data, had gained 19 percent, or 76 cents, to $4.67 and storage company EMC Corp. (NYSE:EMC - news) edged up 2 cents to $13.97.
Disaster recovery stocks soar as Wall St rebuilds
NEW YORK, Sept 17 (Reuters) - Shares in disaster recovery and data storage companies rose sharply on Monday as investors bet that such businesses would be boosted by companies rebuilding after attacks leveled the World Trade Center and shut down the financial district last week.
ADVERTISEMENT
Among the companies bucking the overall market slump on the first day of trading since last week`s attack were SunGard Data Systems (NYSE:SDS - news), Comdisco Inc. (NYSE:CDO - news) and Iron Mountain Inc. (NYSE:IRM - news).
Data storage companies StorageNetworks (NasdaqNM:STOR - news) and EMC Corp. (NYSE:EMC - news) also rose.
``Anything that is sort of security-related or back-up related is up. That shouldn`t be a surprise to anyone,`` said Andrew Jeffrey, an analyst at Robertson Stephens.
The overall market was posting sharp losses, with the Dow Jones industrial average off 670 points, or 7 percent, and the tech-heavy Nasdaq down 101 points, or 6 percent.
Comdisco, which filed for bankruptcy this summer, and SunGard both have services businesses that focus on getting customers that have been through a disaster up and running again in new offices. That can mean providing new equipment, securing office space or restoring data.
Comdisco, based in Rosemont, Illinois, said last week it had 23 customers who had requested services. SunGard, based in Wayne, Pennsylvania, said it had 22 disaster efforts underway.
SunGard shares were trading at $25.36, up 9.08 percent, or $2.11. Comdisco, rose 6 cents, or 9.4 percent, to 70 cents, far from its 52-week high of $24.25.
Jeffrey noted that the gains in SunGard on Monday may have been overdone. Business continuity, as disaster recovery is often known, accounted for about 25 percent of revenues in 2000 compared with the 73 percent of revenues that came from other services to the financial industry.
``We`re recommending that investors don`t chase the stock. We`d like to see what the quarter looks like and we`d like the company to quantify the effect of the disaster recovery,`` Jeffrey said.
Boston-based Iron Mountain, meanwhile, specializes in data storage and recovery. The company has locations around the country, including some underground, where it stores back-up data for its customers. The company said last week that it had 33 customers in the World Trade Center towers.
Its shares rose 6 percent, or $2.45, to $43.30 on Monday.
One company with a significant disaster recovery business that wasn`t gaining on Monday was International Business Machines Corp. (NYSE:IBM - news), which instead was falling with the overall downward trend of technology stocks.
Data storage company StorageNetworks (NasdaqNM:STOR - news), which can help companies recreate lost data, had gained 19 percent, or 76 cents, to $4.67 and storage company EMC Corp. (NYSE:EMC - news) edged up 2 cents to $13.97.
Monday September 17 2:27 PM ET
Disaster Recovery Stocks Up as NY Rebuilds
Audio/Video
Everyone Needs a Nokia, and Other Stock Tips - (Yahoo! Finance Vision)
NEW YORK (Reuters) - Shares in disaster recovery and data storage companies rose sharply on Monday as investors bet that such businesses would be boosted by companies rebuilding after attacks leveled the World Trade Center and shut down the financial district last week.
Among the companies bucking the overall market slump on the first day of trading since last week`s attack were SunGard Data Systems (NYSE:SDS - news), Comdisco Inc. (NYSE:CDO - news) and Iron Mountain Inc. (NYSE:IRM - news).
Data storage companies StorageNetworks (Nasdaq:STOR - news) and EMC Corp. (NYSE:EMC - news) also rose.
``Anything that is sort of security-related or back-up related is up. That shouldn`t be a surprise to anyone,`` said Andrew Jeffrey, an analyst at Robertson Stephens.
The overall market was posting sharp losses, with the Dow Jones industrial average off 670 points, or 7 percent, and the tech-heavy Nasdaq down 101 points, or 6 percent.
Comdisco, which filed for bankruptcy this summer, and SunGard both have services businesses that focus on getting customers that have been through a disaster up and running again in new offices. That can mean providing new equipment, securing office space or restoring data.
Comdisco, based in Rosemont, Illinois, said last week it had 23 customers who had requested services. SunGard, based in Wayne, Pennsylvania, said it had 22 disaster efforts underway.
SunGard shares were trading at $25.36, up 9.08 percent, or $2.11. Comdisco, rose 6 cents, or 9.4 percent, to 70 cents, far from its 52-week high of $24.25.
Jeffrey noted that the gains in SunGard on Monday may have been overdone. Business continuity, as disaster recovery is often known, accounted for about 25 percent of revenues in 2000 compared with the 73 percent of revenues that came from other services to the financial industry.
``We`re recommending that investors don`t chase the stock. We`d like to see what the quarter looks like and we`d like the company to quantify the effect of the disaster recovery,`` Jeffrey said.
Boston-based Iron Mountain, meanwhile, specializes in data storage and recovery. The company has locations around the country, including some underground, where it stores back-up data for its customers. The company said last week that it had 33 customers in the World Trade Center towers.
Its shares rose 6 percent, or $2.45, to $43.30 on Monday.
One company with a significant disaster recovery business that wasn`t gaining on Monday was International Business Machines Corp. (NYSE:IBM - news), which instead was falling with the overall downward trend of technology stocks.
Data storage company StorageNetworks (STOR.O), which can help companies recreate lost data, had gained 19 percent, or 76 cents, to $4.67 and storage company EMC Corp. (EMC.N) edged up 2 cents to $13.97.
Disaster Recovery Stocks Up as NY Rebuilds
Audio/Video
Everyone Needs a Nokia, and Other Stock Tips - (Yahoo! Finance Vision)
NEW YORK (Reuters) - Shares in disaster recovery and data storage companies rose sharply on Monday as investors bet that such businesses would be boosted by companies rebuilding after attacks leveled the World Trade Center and shut down the financial district last week.
Among the companies bucking the overall market slump on the first day of trading since last week`s attack were SunGard Data Systems (NYSE:SDS - news), Comdisco Inc. (NYSE:CDO - news) and Iron Mountain Inc. (NYSE:IRM - news).
Data storage companies StorageNetworks (Nasdaq:STOR - news) and EMC Corp. (NYSE:EMC - news) also rose.
``Anything that is sort of security-related or back-up related is up. That shouldn`t be a surprise to anyone,`` said Andrew Jeffrey, an analyst at Robertson Stephens.
The overall market was posting sharp losses, with the Dow Jones industrial average off 670 points, or 7 percent, and the tech-heavy Nasdaq down 101 points, or 6 percent.
Comdisco, which filed for bankruptcy this summer, and SunGard both have services businesses that focus on getting customers that have been through a disaster up and running again in new offices. That can mean providing new equipment, securing office space or restoring data.
Comdisco, based in Rosemont, Illinois, said last week it had 23 customers who had requested services. SunGard, based in Wayne, Pennsylvania, said it had 22 disaster efforts underway.
SunGard shares were trading at $25.36, up 9.08 percent, or $2.11. Comdisco, rose 6 cents, or 9.4 percent, to 70 cents, far from its 52-week high of $24.25.
Jeffrey noted that the gains in SunGard on Monday may have been overdone. Business continuity, as disaster recovery is often known, accounted for about 25 percent of revenues in 2000 compared with the 73 percent of revenues that came from other services to the financial industry.
``We`re recommending that investors don`t chase the stock. We`d like to see what the quarter looks like and we`d like the company to quantify the effect of the disaster recovery,`` Jeffrey said.
Boston-based Iron Mountain, meanwhile, specializes in data storage and recovery. The company has locations around the country, including some underground, where it stores back-up data for its customers. The company said last week that it had 33 customers in the World Trade Center towers.
Its shares rose 6 percent, or $2.45, to $43.30 on Monday.
One company with a significant disaster recovery business that wasn`t gaining on Monday was International Business Machines Corp. (NYSE:IBM - news), which instead was falling with the overall downward trend of technology stocks.
Data storage company StorageNetworks (STOR.O), which can help companies recreate lost data, had gained 19 percent, or 76 cents, to $4.67 and storage company EMC Corp. (EMC.N) edged up 2 cents to $13.97.
Monday September 17 4:33 PM ET
Defense Stocks Soar but Aero Parts Sink
Audio/Video
In Times of Turmoil, Stick With Defense and Defensive Stocks - (Yahoo! Finance Vision)
By Kristin Roberts
NEW YORK (Reuters) - Shares of defense contractors surged on Monday, led by makers of military electronics systems, as investors bet on increased defense spending after Tuesday`s attack on the World Trade Center and Pentagon (news - web sites).
But aerospace companies that supply parts and systems to the commercial airline industry watched their stocks tumble on an expected financial crisis for the air carriers, analysts said.
Engineered Support Systems Inc. (Nasdaq:EASI - news), Raytheon Co. (NYSE:RTN - news) and L-3 Communications Holdings Inc. (NYSE:LLL - news) were among the market`s strongest gainers on Monday, with stocks rising by more than 25 percent during the session.
Traditional names in the defense industry climbed as well. Lockheed Martin Corp. (NYSE:LMT - news) and Northrop Grumman Corp. (NYSE:NOC - news) added 15 percent to their stock prices during the day.
``The terrorist attack on America is a major watershed event likely to bolster U.S. weapons spending, buttressing already solid earnings prospects for most defense contractors,`` said Cai von Rumohr, analyst at SG Cowen.
On the commercial side of aerospace, parts and airframe suppliers sank, including shares of Boeing Co. (NYSE:BA - news), United Technologies Corp. (NYSE:UTX - news), Honeywell International Inc. (NYSE:HON - news) and Goodrich Corp. (NYSE:GR - news)
Wall Street stock analysts said demand for aircraft parts and systems will suffer as airlines cut back on flight service, swallow the cost of last week`s ban on commercial air travel and adjust for an expected decline in bookings.
``Fewer flights means less consumption of their high profit spare parts,`` said Sam Pearlstein, analyst at First Union Securities.
DEFENSIVE BUYING
While shares of all defense contractors, except Boeing, shot higher, investors discriminated between makers of electronic warfare technologies and makers of traditional weapons such as fighter jets and warships.
Wall Street analysts noted military electronics companies were likely to be clear winners as the U.S. government prepared to strike back against what it has dubbed ``terrorist acts.``
The New York Stock Exchange (news - web sites)`s top gainer was L-3, which supplies secure communications and specialized products to prime contractors in the aerospace and military industry. The stock surged $24.00, or 38 percent, to $87.00.
Engineered Support Systems, whose products range from the Stryker system that assists in surveillance and engagement to the Refrigerated Ship Stores system that keeps frozen foods frozen on submarines, was among the Nasdaq`s leading gainers, stock soaring $10.66, or 34 percent, to $41.71.
Alliant Techsystems Inc. (NYSE:ATK - news), a leader in munitions and precision capabilities, and CACI International Inc. (Nasdaq:CACI - news), a provider of information technology services to the U.S. government, both gained more than 20 percent to hit new highs.
Similarly, some technology companies that normally are not considered part of the defense industry posted comparable gains due to their connection with security products, analysts said.
SunGard Data Systems (NYSE:SDS - news), Comdisco Inc. (NYSE:CDO - news) and Iron Mountain Inc. (NYSE:IRM - news) along with data storage companies StorageNetworks (Nasdaq:STOR - news) and EMC Corp. (NYSE:EMC - news) rose.
``Anything that is sort of security-related or back-up related is up. That shouldn`t be a surprise to anyone,`` said Andrew Jeffrey, an analyst at Robertson Stephens.
TRADITIONAL LEADERS
Raytheon, maker of strike systems and the Patriot missile, surged more than 25 percent as analysts said the company would benefit from a boost in spending on warfare technologies thanks to its strength in defense electronics. SG Cowen early on Monday upgraded its investment rating on the stock to a ``trading buy`` from a ``hold.``
Other traditional names in defense posted substantial gains as well. Shares of Northrop, maker of the B-2 bomber and Global Hawk unmanned surveillance plane, rose 16 percent, or $12.86 to $94.80, and No. 1 contractor Lockheed, maker of fighter jets, climbed 15 percent, or $5.63, at $43.95.
Leaders in the aerospace manufacturing sector dropped as investors anticipated a decrease in demand from airlines.
United Technologies warned that earnings in the fourth quarter would fall below targets due to disruptions in the commercial airline industry. That stock, a component of the blue-chip Dow Jones industrial average, plunged 28 percent, or $18.70 to $47.50.
Heico Corp. (NYSE:HEI - news), a jet engine parts maker, said it was too soon to know the effect of last week`s attacks. The stock fell 13 percent, or $2.28 to $14.70.
First Union listed United Technologies and Heico along with Goodrich, Moog Inc. (AMEX:MOGA - news) and Esterline Technologies Corp. (NYSE:ESL - news) as manufacturers that may be impacted.
Defense Stocks Soar but Aero Parts Sink
Audio/Video
In Times of Turmoil, Stick With Defense and Defensive Stocks - (Yahoo! Finance Vision)
By Kristin Roberts
NEW YORK (Reuters) - Shares of defense contractors surged on Monday, led by makers of military electronics systems, as investors bet on increased defense spending after Tuesday`s attack on the World Trade Center and Pentagon (news - web sites).
But aerospace companies that supply parts and systems to the commercial airline industry watched their stocks tumble on an expected financial crisis for the air carriers, analysts said.
Engineered Support Systems Inc. (Nasdaq:EASI - news), Raytheon Co. (NYSE:RTN - news) and L-3 Communications Holdings Inc. (NYSE:LLL - news) were among the market`s strongest gainers on Monday, with stocks rising by more than 25 percent during the session.
Traditional names in the defense industry climbed as well. Lockheed Martin Corp. (NYSE:LMT - news) and Northrop Grumman Corp. (NYSE:NOC - news) added 15 percent to their stock prices during the day.
``The terrorist attack on America is a major watershed event likely to bolster U.S. weapons spending, buttressing already solid earnings prospects for most defense contractors,`` said Cai von Rumohr, analyst at SG Cowen.
On the commercial side of aerospace, parts and airframe suppliers sank, including shares of Boeing Co. (NYSE:BA - news), United Technologies Corp. (NYSE:UTX - news), Honeywell International Inc. (NYSE:HON - news) and Goodrich Corp. (NYSE:GR - news)
Wall Street stock analysts said demand for aircraft parts and systems will suffer as airlines cut back on flight service, swallow the cost of last week`s ban on commercial air travel and adjust for an expected decline in bookings.
``Fewer flights means less consumption of their high profit spare parts,`` said Sam Pearlstein, analyst at First Union Securities.
DEFENSIVE BUYING
While shares of all defense contractors, except Boeing, shot higher, investors discriminated between makers of electronic warfare technologies and makers of traditional weapons such as fighter jets and warships.
Wall Street analysts noted military electronics companies were likely to be clear winners as the U.S. government prepared to strike back against what it has dubbed ``terrorist acts.``
The New York Stock Exchange (news - web sites)`s top gainer was L-3, which supplies secure communications and specialized products to prime contractors in the aerospace and military industry. The stock surged $24.00, or 38 percent, to $87.00.
Engineered Support Systems, whose products range from the Stryker system that assists in surveillance and engagement to the Refrigerated Ship Stores system that keeps frozen foods frozen on submarines, was among the Nasdaq`s leading gainers, stock soaring $10.66, or 34 percent, to $41.71.
Alliant Techsystems Inc. (NYSE:ATK - news), a leader in munitions and precision capabilities, and CACI International Inc. (Nasdaq:CACI - news), a provider of information technology services to the U.S. government, both gained more than 20 percent to hit new highs.
Similarly, some technology companies that normally are not considered part of the defense industry posted comparable gains due to their connection with security products, analysts said.
SunGard Data Systems (NYSE:SDS - news), Comdisco Inc. (NYSE:CDO - news) and Iron Mountain Inc. (NYSE:IRM - news) along with data storage companies StorageNetworks (Nasdaq:STOR - news) and EMC Corp. (NYSE:EMC - news) rose.
``Anything that is sort of security-related or back-up related is up. That shouldn`t be a surprise to anyone,`` said Andrew Jeffrey, an analyst at Robertson Stephens.
TRADITIONAL LEADERS
Raytheon, maker of strike systems and the Patriot missile, surged more than 25 percent as analysts said the company would benefit from a boost in spending on warfare technologies thanks to its strength in defense electronics. SG Cowen early on Monday upgraded its investment rating on the stock to a ``trading buy`` from a ``hold.``
Other traditional names in defense posted substantial gains as well. Shares of Northrop, maker of the B-2 bomber and Global Hawk unmanned surveillance plane, rose 16 percent, or $12.86 to $94.80, and No. 1 contractor Lockheed, maker of fighter jets, climbed 15 percent, or $5.63, at $43.95.
Leaders in the aerospace manufacturing sector dropped as investors anticipated a decrease in demand from airlines.
United Technologies warned that earnings in the fourth quarter would fall below targets due to disruptions in the commercial airline industry. That stock, a component of the blue-chip Dow Jones industrial average, plunged 28 percent, or $18.70 to $47.50.
Heico Corp. (NYSE:HEI - news), a jet engine parts maker, said it was too soon to know the effect of last week`s attacks. The stock fell 13 percent, or $2.28 to $14.70.
First Union listed United Technologies and Heico along with Goodrich, Moog Inc. (AMEX:MOGA - news) and Esterline Technologies Corp. (NYSE:ESL - news) as manufacturers that may be impacted.
Protecting data in a disaster
By Ross Kerber, Boston Globe Staff, 9/17/01
At first it looked like a power outage.
EMC provides monitoring services to 25 customers who had offices in the World Trade Center towers, and the troubles didn`t seem so unusual at first, said EMC chief technology officer Jim Rothnie. Software running on the equipment sent out automatic alerts and triggered certain shutdown procedures, in some cases replicating hard-drive data to remote locations.
But it quickly became apparent that Tuesday`s events would be far worse than a blackout; in computer-networking parlance, the spiraling catastrophe would be known as an "event storm" in which the primary concern is to salvage information rather than hardware. And while loss of business data is hardly the worst consequence of the terror attacks, it could contribute to business disruption which some fear will become a signficant economic event.
Working to help companies recover their information are local data-storage companies like EMC, and StorageNetworks Inc. of Waltham, which also served customers in the towers.
Both data storage firms say advances in data-backup services, such as faster fiber-optic transmissions and better duplication software, may make the difference for some customers as they struggle to get back to business as usual.
Some companies used "snapshot" services that sent robust backup copies of data streaming across the Hudson River to data-storage facilities in New Jersey, StorageNetworks said.
"Obviously, this all pales in comparison to the loss of human life involved," Rothnie said. "But the importance of this data to the functioning of financial systems is very high."
The services of other companies, such as data network provider PSINet Inc., are also central to the distribution of data to remote locations. Al Decker, security director at EDS Corp. of Plano, Tex., said the technology services company`s sites in New Jersey and Pennsylvania hosted Web pages and performed other tasks for about a dozen clients in the World Trade Center, including American Express. Even as their offices were annihilated, their Web pages didn`t miss a heartbeat, Decker said.
While they won`t specify which tenants of the towers used their systems, EMC and StorageNetworks say the majority of their customers were financial-services firms.
Some of the smaller firms may no longer exist as going concerns. For larger companies with offices elsewhere, one goal is to recover as much stored information as possible and to verify its accuracy. In recent years, many data networks have come to include back-up technologies and services known as "disaster recovery" infrastructure. Many duplicated their networks` data onto magnetic tapes each evening that could then be removed from the towers.
Other companies saved their most sensitive data through a process known as "mirroring," in which information is backed up onto hard drives at remote locations as quickly as it is created.
Mirroring is expensive -- up to $1 million a day to keep an entire financial database backed up in real-time, compared with perhaps $10,000 a day for tape backup services, according to StorageNetworks. Since large corporate databases might now include 10 terabytes of information, or the equivalent of 10 million books, complete duplication sometimes isn`t practical, but the companies say it will become so as prices decline through better high-speed data connections.
Prior to Tuesday, the worst losses of data usually stemmed from power outages and hurricanes. StorageNetworks chief technology officer Bill Miller said at least one customer in the World Trade Center had already scripted for the consequences of a terrorist attack after the 1993 bombing at the center, but its executives may have assumed their hardware would remain standing. "The scale of this is unheard of," Miller said.
By Ross Kerber, Boston Globe Staff, 9/17/01
At first it looked like a power outage.
EMC provides monitoring services to 25 customers who had offices in the World Trade Center towers, and the troubles didn`t seem so unusual at first, said EMC chief technology officer Jim Rothnie. Software running on the equipment sent out automatic alerts and triggered certain shutdown procedures, in some cases replicating hard-drive data to remote locations.
But it quickly became apparent that Tuesday`s events would be far worse than a blackout; in computer-networking parlance, the spiraling catastrophe would be known as an "event storm" in which the primary concern is to salvage information rather than hardware. And while loss of business data is hardly the worst consequence of the terror attacks, it could contribute to business disruption which some fear will become a signficant economic event.
Working to help companies recover their information are local data-storage companies like EMC, and StorageNetworks Inc. of Waltham, which also served customers in the towers.
Both data storage firms say advances in data-backup services, such as faster fiber-optic transmissions and better duplication software, may make the difference for some customers as they struggle to get back to business as usual.
Some companies used "snapshot" services that sent robust backup copies of data streaming across the Hudson River to data-storage facilities in New Jersey, StorageNetworks said.
"Obviously, this all pales in comparison to the loss of human life involved," Rothnie said. "But the importance of this data to the functioning of financial systems is very high."
The services of other companies, such as data network provider PSINet Inc., are also central to the distribution of data to remote locations. Al Decker, security director at EDS Corp. of Plano, Tex., said the technology services company`s sites in New Jersey and Pennsylvania hosted Web pages and performed other tasks for about a dozen clients in the World Trade Center, including American Express. Even as their offices were annihilated, their Web pages didn`t miss a heartbeat, Decker said.
While they won`t specify which tenants of the towers used their systems, EMC and StorageNetworks say the majority of their customers were financial-services firms.
Some of the smaller firms may no longer exist as going concerns. For larger companies with offices elsewhere, one goal is to recover as much stored information as possible and to verify its accuracy. In recent years, many data networks have come to include back-up technologies and services known as "disaster recovery" infrastructure. Many duplicated their networks` data onto magnetic tapes each evening that could then be removed from the towers.
Other companies saved their most sensitive data through a process known as "mirroring," in which information is backed up onto hard drives at remote locations as quickly as it is created.
Mirroring is expensive -- up to $1 million a day to keep an entire financial database backed up in real-time, compared with perhaps $10,000 a day for tape backup services, according to StorageNetworks. Since large corporate databases might now include 10 terabytes of information, or the equivalent of 10 million books, complete duplication sometimes isn`t practical, but the companies say it will become so as prices decline through better high-speed data connections.
Prior to Tuesday, the worst losses of data usually stemmed from power outages and hurricanes. StorageNetworks chief technology officer Bill Miller said at least one customer in the World Trade Center had already scripted for the consequences of a terrorist attack after the 1993 bombing at the center, but its executives may have assumed their hardware would remain standing. "The scale of this is unheard of," Miller said.
Merrill Lynch Hands Over SAN Management
Expects to cut 20% off TCO of storage system
By LUCAS MEARIAN
Chris Corrado, CTO at Merrill Lynch
(August 20, 2001) Merrill Lynch & Co.`s chief technology officer, Chris Corrado, is juggling an enormous server consolidation at the brokerage`s New York headquarters. At the same time, he`s migrating its business data to a storage subnetwork, so the last thing he wanted to do was worry about what storage technology would work best.
The answer for Corrado, and an increasing number of other Global 2,000 IT executives, was to outsource his storage-area network (SAN).
While Merrill Lynch`s IT staff could have built the SAN in-house, Corrado said he expects to save 20% on the total cost of ownership of the storage network by having Waltham, Mass.-based Storage Networks Inc. build and then remotely manage the SAN.
The effort began in January, and Corrado expects the project to be completed within the next year.
To date, Merrill Lynch has been using just 40% of the storage capacity of its direct-attached storage system. Meanwhile, maintenance and upgrade costs have been steadily increasing.
The world`s largest brokerage house is taking a slow and cautious approach to migrating its business and mission-critical data to a Fibre Channel SAN over the next few years. Currently, about 15% to 20% of the firm`s data resides on the SAN.
"This is a long process. You can try to do it fast - if you`re suicidal," Corrado said.
Corrado cautioned those entering into contracts with storage service providers (SSP) to read the fine print of any service-level agreement and make it work to their advantage.
"You have to force these guys to pass along not only hardware cost savings over the years but productivity costs, considering storage software will get better as well," Corrado said. "I tell them, `I don`t care how you do it, but you`re going to make utilization in my shop go up, so, on average, I want my price to go down.` "
Part of the impetus behind Merrill Lynch`s outsourcing deal: The firm`s IT staffers are busy consolidating about 2,500 servers at its New York headquarters down to 250 to 300 machines over the next year.
Boom Times for SSPs
For a marketplace that last year took a huge revenue nose dive in conjunction with the dot-com debacle, SSPs are now, ironically, enjoying a comeback through on-site management of storage and software sales. In large part, that`s due to the fact that IT managers are trying to stretch every dollar in today`s slumping economy.
According to San Jose-based Dataquest Inc., the North American SSP market is expected to grow from $176 million last year to more than $6 billion by 2004.
SSPs once depended heavily on hosting their customers` storage at point-of-presence facilities. But large enterprises never warmed to the idea of letting someone else handle their mission-critical data. So SSPs were mainly used for backup and disaster recovery.
Now, "over 50% of the revenue in the SSP market appears to be coming from professional services, not storage services," said Greg Brashier, an analyst at Strategic Research Corp., a market research firm in Santa Barbara, Calif.
According to Bob Zimmerman, an analyst at Giga Information Group Inc. in Santa Clara, Calif., the reason SSPs are becoming more popular for managing SANs is that they can often reduce a firm`s costs by as much as 40%, or 15 cents per megabyte per month to run vs. 21 cents per month using in-house staff.
"[SSPs] are also getting prices for hardware you couldn`t touch," Zimmerman said, pointing out that vendors get wholesale advantages.
Corrado said that if Merrill Lynch`s outsourcing project didn`t reduce costs by at least 10%, he wouldn`t do it. "It`s just not worth the risk," he said.
Expects to cut 20% off TCO of storage system
By LUCAS MEARIAN
Chris Corrado, CTO at Merrill Lynch
(August 20, 2001) Merrill Lynch & Co.`s chief technology officer, Chris Corrado, is juggling an enormous server consolidation at the brokerage`s New York headquarters. At the same time, he`s migrating its business data to a storage subnetwork, so the last thing he wanted to do was worry about what storage technology would work best.
The answer for Corrado, and an increasing number of other Global 2,000 IT executives, was to outsource his storage-area network (SAN).
While Merrill Lynch`s IT staff could have built the SAN in-house, Corrado said he expects to save 20% on the total cost of ownership of the storage network by having Waltham, Mass.-based Storage Networks Inc. build and then remotely manage the SAN.
The effort began in January, and Corrado expects the project to be completed within the next year.
To date, Merrill Lynch has been using just 40% of the storage capacity of its direct-attached storage system. Meanwhile, maintenance and upgrade costs have been steadily increasing.
The world`s largest brokerage house is taking a slow and cautious approach to migrating its business and mission-critical data to a Fibre Channel SAN over the next few years. Currently, about 15% to 20% of the firm`s data resides on the SAN.
"This is a long process. You can try to do it fast - if you`re suicidal," Corrado said.
Corrado cautioned those entering into contracts with storage service providers (SSP) to read the fine print of any service-level agreement and make it work to their advantage.
"You have to force these guys to pass along not only hardware cost savings over the years but productivity costs, considering storage software will get better as well," Corrado said. "I tell them, `I don`t care how you do it, but you`re going to make utilization in my shop go up, so, on average, I want my price to go down.` "
Part of the impetus behind Merrill Lynch`s outsourcing deal: The firm`s IT staffers are busy consolidating about 2,500 servers at its New York headquarters down to 250 to 300 machines over the next year.
Boom Times for SSPs
For a marketplace that last year took a huge revenue nose dive in conjunction with the dot-com debacle, SSPs are now, ironically, enjoying a comeback through on-site management of storage and software sales. In large part, that`s due to the fact that IT managers are trying to stretch every dollar in today`s slumping economy.
According to San Jose-based Dataquest Inc., the North American SSP market is expected to grow from $176 million last year to more than $6 billion by 2004.
SSPs once depended heavily on hosting their customers` storage at point-of-presence facilities. But large enterprises never warmed to the idea of letting someone else handle their mission-critical data. So SSPs were mainly used for backup and disaster recovery.
Now, "over 50% of the revenue in the SSP market appears to be coming from professional services, not storage services," said Greg Brashier, an analyst at Strategic Research Corp., a market research firm in Santa Barbara, Calif.
According to Bob Zimmerman, an analyst at Giga Information Group Inc. in Santa Clara, Calif., the reason SSPs are becoming more popular for managing SANs is that they can often reduce a firm`s costs by as much as 40%, or 15 cents per megabyte per month to run vs. 21 cents per month using in-house staff.
"[SSPs] are also getting prices for hardware you couldn`t touch," Zimmerman said, pointing out that vendors get wholesale advantages.
Corrado said that if Merrill Lynch`s outsourcing project didn`t reduce costs by at least 10%, he wouldn`t do it. "It`s just not worth the risk," he said.
Live Headline
18-Sep-01
StorageNetworks (STOR) 4.90 +0.72: -- Before Open -- Needham maintains BUY rating; believes the company has experienced some dislocation of existing and potential customers that may slow data and backlog growth in the coming quarters; however, feels that in light of the disaster in downtown Manhattan, companies will be looking for backup and recovery services, which benefits STOR; additionally, believes opportunities exist as companies reexamine co-location possibilities as well as seek professional services.
18-Sep-01
StorageNetworks (STOR) 4.90 +0.72: -- Before Open -- Needham maintains BUY rating; believes the company has experienced some dislocation of existing and potential customers that may slow data and backlog growth in the coming quarters; however, feels that in light of the disaster in downtown Manhattan, companies will be looking for backup and recovery services, which benefits STOR; additionally, believes opportunities exist as companies reexamine co-location possibilities as well as seek professional services.
StorageNetworks Rises with Demand for Data Back-Ups
Audio/Video
FinanceVision Exclusive: House Financial Services Chair Says SEC Documents May Be Lost - (Yahoo! Finance Vision)
NEW YORK (Reuters) - Storage software and services company StorageNetworks (Nasdaq:STOR - news) shares gained sharply for a second day on Tuesday as investors bet that companies will revamp their data back-up systems in the wake of the devastating attack on the World Trade Center last week.
On a day when the Dow Jones Industrial Average and the Nasdaq composite index gained less than 1 percent, investors pushed shares in the company up as much as 21 percent.
The World Trade Center collapse underscored the need to have data backed up not just within an office, but in an off-site location as well, analysts said.
For instance, financial companies such as Morgan Stanley (NYSE:MWD - news) that were in the World Trade Center were able to function the day after the crash because their data was stored off-site.
``StorageNetworks` business is to provide storage service to companies, like managing their data centers,`` explained Ren Zamora, an analyst with First Union Securities.
``So something like this would mean that a company would have something off-site with (StorageNetworks), or they would be managing it on-site with them, but potentially have back-up capability where they are mirroring their data somewhere else,`` Zamora said.
Zamora said that sentiment has pushed shares of Waltham, Massachusetts-based StorageNetworks higher. The company`s shares were up 58 cents, or nearly 14 percent, at $4.76 in afternoon trading after earlier rising as high as $5.06.
Hopkinton, Massachusetts-based EMC Corp. (NYSE:EMC - news), which makes the hardware that individual companies and storage service companies like StorageNetworks use to back up their data, also got a boost in early trading before turning lower.
EMC shares were off 60 cents, or 4 percent, at $13.15 in afternoon trading after earlier rising as high as $14.75.
But the potential gains are still small, one investment bank said. Credit Suisse First Boston said that data service providers could see revenues rise from 3 percent to 10 percent in the fourth quarter because of the attack.
``We do not expect much of an impact on third quarter operating results as a result of last week`s events but there could impact on Q4 operating results as the flow through of potential lower bookings in the third quarter and fourth quarter impacts fourth quarter and 2002 revenues,`` Tim Newington wrote.
Audio/Video
FinanceVision Exclusive: House Financial Services Chair Says SEC Documents May Be Lost - (Yahoo! Finance Vision)
NEW YORK (Reuters) - Storage software and services company StorageNetworks (Nasdaq:STOR - news) shares gained sharply for a second day on Tuesday as investors bet that companies will revamp their data back-up systems in the wake of the devastating attack on the World Trade Center last week.
On a day when the Dow Jones Industrial Average and the Nasdaq composite index gained less than 1 percent, investors pushed shares in the company up as much as 21 percent.
The World Trade Center collapse underscored the need to have data backed up not just within an office, but in an off-site location as well, analysts said.
For instance, financial companies such as Morgan Stanley (NYSE:MWD - news) that were in the World Trade Center were able to function the day after the crash because their data was stored off-site.
``StorageNetworks` business is to provide storage service to companies, like managing their data centers,`` explained Ren Zamora, an analyst with First Union Securities.
``So something like this would mean that a company would have something off-site with (StorageNetworks), or they would be managing it on-site with them, but potentially have back-up capability where they are mirroring their data somewhere else,`` Zamora said.
Zamora said that sentiment has pushed shares of Waltham, Massachusetts-based StorageNetworks higher. The company`s shares were up 58 cents, or nearly 14 percent, at $4.76 in afternoon trading after earlier rising as high as $5.06.
Hopkinton, Massachusetts-based EMC Corp. (NYSE:EMC - news), which makes the hardware that individual companies and storage service companies like StorageNetworks use to back up their data, also got a boost in early trading before turning lower.
EMC shares were off 60 cents, or 4 percent, at $13.15 in afternoon trading after earlier rising as high as $14.75.
But the potential gains are still small, one investment bank said. Credit Suisse First Boston said that data service providers could see revenues rise from 3 percent to 10 percent in the fourth quarter because of the attack.
``We do not expect much of an impact on third quarter operating results as a result of last week`s events but there could impact on Q4 operating results as the flow through of potential lower bookings in the third quarter and fourth quarter impacts fourth quarter and 2002 revenues,`` Tim Newington wrote.
Protecting data in a disaster
By Ross Kerber, Boston Globe Staff, 9/17/01
At first it looked like a power outage.
EMC provides monitoring services to 25 customers who had offices in the World Trade Center towers, and the troubles didn`t seem so unusual at first, said EMC chief technology officer Jim Rothnie. Software running on the equipment sent out automatic alerts and triggered certain shutdown procedures, in some cases replicating hard-drive data to remote locations.
But it quickly became apparent that Tuesday`s events would be far worse than a blackout; in computer-networking parlance, the spiraling catastrophe would be known as an "event storm" in which the primary concern is to salvage information rather than hardware. And while loss of business data is hardly the worst consequence of the terror attacks, it could contribute to business disruption which some fear will become a signficant economic event.
Working to help companies recover their information are local data-storage companies like EMC, and StorageNetworks Inc. of Waltham, which also served customers in the towers.
Both data storage firms say advances in data-backup services, such as faster fiber-optic transmissions and better duplication software, may make the difference for some customers as they struggle to get back to business as usual.
Some companies used "snapshot" services that sent robust backup copies of data streaming across the Hudson River to data-storage facilities in New Jersey, StorageNetworks said.
"Obviously, this all pales in comparison to the loss of human life involved," Rothnie said. "But the importance of this data to the functioning of financial systems is very high."
The services of other companies, such as data network provider PSINet Inc., are also central to the distribution of data to remote locations. Al Decker, security director at EDS Corp. of Plano, Tex., said the technology services company`s sites in New Jersey and Pennsylvania hosted Web pages and performed other tasks for about a dozen clients in the World Trade Center, including American Express. Even as their offices were annihilated, their Web pages didn`t miss a heartbeat, Decker said.
While they won`t specify which tenants of the towers used their systems, EMC and StorageNetworks say the majority of their customers were financial-services firms.
Some of the smaller firms may no longer exist as going concerns. For larger companies with offices elsewhere, one goal is to recover as much stored information as possible and to verify its accuracy. In recent years, many data networks have come to include back-up technologies and services known as "disaster recovery" infrastructure. Many duplicated their networks` data onto magnetic tapes each evening that could then be removed from the towers.
Other companies saved their most sensitive data through a process known as "mirroring," in which information is backed up onto hard drives at remote locations as quickly as it is created.
Mirroring is expensive -- up to $1 million a day to keep an entire financial database backed up in real-time, compared with perhaps $10,000 a day for tape backup services, according to StorageNetworks. Since large corporate databases might now include 10 terabytes of information, or the equivalent of 10 million books, complete duplication sometimes isn`t practical, but the companies say it will become so as prices decline through better high-speed data connections.
Prior to Tuesday, the worst losses of data usually stemmed from power outages and hurricanes. StorageNetworks chief technology officer Bill Miller said at least one customer in the World Trade Center had already scripted for the consequences of a terrorist attack after the 1993 bombing at the center, but its executives may have assumed their hardware would remain standing. "The scale of this is unheard of," Miller said.
By Ross Kerber, Boston Globe Staff, 9/17/01
At first it looked like a power outage.
EMC provides monitoring services to 25 customers who had offices in the World Trade Center towers, and the troubles didn`t seem so unusual at first, said EMC chief technology officer Jim Rothnie. Software running on the equipment sent out automatic alerts and triggered certain shutdown procedures, in some cases replicating hard-drive data to remote locations.
But it quickly became apparent that Tuesday`s events would be far worse than a blackout; in computer-networking parlance, the spiraling catastrophe would be known as an "event storm" in which the primary concern is to salvage information rather than hardware. And while loss of business data is hardly the worst consequence of the terror attacks, it could contribute to business disruption which some fear will become a signficant economic event.
Working to help companies recover their information are local data-storage companies like EMC, and StorageNetworks Inc. of Waltham, which also served customers in the towers.
Both data storage firms say advances in data-backup services, such as faster fiber-optic transmissions and better duplication software, may make the difference for some customers as they struggle to get back to business as usual.
Some companies used "snapshot" services that sent robust backup copies of data streaming across the Hudson River to data-storage facilities in New Jersey, StorageNetworks said.
"Obviously, this all pales in comparison to the loss of human life involved," Rothnie said. "But the importance of this data to the functioning of financial systems is very high."
The services of other companies, such as data network provider PSINet Inc., are also central to the distribution of data to remote locations. Al Decker, security director at EDS Corp. of Plano, Tex., said the technology services company`s sites in New Jersey and Pennsylvania hosted Web pages and performed other tasks for about a dozen clients in the World Trade Center, including American Express. Even as their offices were annihilated, their Web pages didn`t miss a heartbeat, Decker said.
While they won`t specify which tenants of the towers used their systems, EMC and StorageNetworks say the majority of their customers were financial-services firms.
Some of the smaller firms may no longer exist as going concerns. For larger companies with offices elsewhere, one goal is to recover as much stored information as possible and to verify its accuracy. In recent years, many data networks have come to include back-up technologies and services known as "disaster recovery" infrastructure. Many duplicated their networks` data onto magnetic tapes each evening that could then be removed from the towers.
Other companies saved their most sensitive data through a process known as "mirroring," in which information is backed up onto hard drives at remote locations as quickly as it is created.
Mirroring is expensive -- up to $1 million a day to keep an entire financial database backed up in real-time, compared with perhaps $10,000 a day for tape backup services, according to StorageNetworks. Since large corporate databases might now include 10 terabytes of information, or the equivalent of 10 million books, complete duplication sometimes isn`t practical, but the companies say it will become so as prices decline through better high-speed data connections.
Prior to Tuesday, the worst losses of data usually stemmed from power outages and hurricanes. StorageNetworks chief technology officer Bill Miller said at least one customer in the World Trade Center had already scripted for the consequences of a terrorist attack after the 1993 bombing at the center, but its executives may have assumed their hardware would remain standing. "The scale of this is unheard of," Miller said.
StorageNetworks` Software Enhancements Ensure High Levels of Data Availability, Protection and Recovery
Company Continues to Set Industry Standard For Data Storage Management
WALTHAM, Mass.--(BUSINESS WIRE)--Sept. 26, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, today announced major enhancements to its industry-leading software platform, with new versions of the StorageNetworks® STORosSM operating system, Virtual Storage PortalSM software and STORvisionSM software. The software upgrade includes more comprehensive reporting and alerting, expanded technology support - including support for virtualization technology - and proven integration of customer management information. With this new functionality, StorageNetworks` software platform further enables large enterprises and service organizations to centrally manage their multi-vendor storage infrastructure and create efficient operational policies to dramatically improve data availability, protection, and recovery.
``Large enterprises want to centralize and automate data storage management as much as possible,`` stated Peter Bell, Chairman and Chief Executive Officer of StorageNetworks. ``Our software platform provides our customers with a storage `blue-print`, combining comprehensive asset information with detailed management policies. As a result, our customers can manage their environments very efficiently and to high levels of availability and recoverability.``
Host Agents Enhance Centralized Reporting and Analysis
StorageNetworks today announced version 2.1 of the STORos operating system including support for host agents. The STORos operating system is the industry`s first storage-specific operating system that integrates and centralizes the distributed and heterogeneous management elements of a storage network.
With the addition of host agents, the STORos operating system captures detailed utilization statistics for both direct-attached and networked storage environments. Version 4.1 of the Virtual Storage Portal software enables enterprise customers to centrally view these utilization statistics for SAN, NAS, and direct-attached storage environments within a single, integrated interface. Additionally, customers can be automatically notified when capacity thresholds are exceeded.
``These reports allow our customers to quickly identify under-utilized and inefficient storage assets,`` said Bill Miller, Chief Technical Officer of StorageNetworks. ``As companies plan to migrate from a direct-attached to a networked environment, our host agent enables enterprises to prioritize migration plans and improve utilization rates, availability and the underlying cost structure of their storage infrastructure.``
Virtualization Support Extends Multi-Vendor Storage Management Platform
This latest version of the STORos operating system now supports several new storage technologies including Vicom`s virtualization engine. Virtualization provides enterprise customers with greater flexibility in provisioning new storage resources through a single, logical pool of networked storage.
StorageNetworks also added support for McData fiber channel switches, Hewlett Packard storage arrays, and new filers from Network Appliance. These technologies, qualified through StorageNetworks` interoperability labs, further extend StorageNetworks` storage management leadership and broad multi-vendor support. The STORos operating system supports technologies from the following industry-leading vendors: Compaq, EMC, Hitachi Data Systems, Sun Microsystems, Network Appliance, Hewlett Packard, Brocade, Cisco, McData, StorageTek, ADIC, Veritas, Legato and Vicom.
Application Programming Interface Integrates Customer Management Frameworks
StorageNetworks also announced that Pihana Pacific is integrating StorageNetworks` STORos API technology into its delivery of storage services. The STORos API enables customers to incorporate information from the STORos operating system into existing management frameworks and applications, including billing, provisioning, and ticketing systems. Pihana Pacific, one of StorageNetworks` STORfusionSM service partners, is in the process of leveraging this information and integrating it into customized storage management tools.
``StorageNetworks` application programming interface allows us to create compelling storage management tools for our customers located in our facilities across the Asia/Pacific region,`` said Rich Kalbrener, Chief Executive Officer, Pihana Pacific. ``These robust management tools are key to improving data availability and customer satisfaction within large, complex storage environments and will help us provide additional value to our customers.``
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks is a registered servicemark and STORos, Virtual Storage Portal, STORvision and STORfusion are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781-622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781-434-6373
erica.smith@storagenetworks.com
Company Continues to Set Industry Standard For Data Storage Management
WALTHAM, Mass.--(BUSINESS WIRE)--Sept. 26, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, today announced major enhancements to its industry-leading software platform, with new versions of the StorageNetworks® STORosSM operating system, Virtual Storage PortalSM software and STORvisionSM software. The software upgrade includes more comprehensive reporting and alerting, expanded technology support - including support for virtualization technology - and proven integration of customer management information. With this new functionality, StorageNetworks` software platform further enables large enterprises and service organizations to centrally manage their multi-vendor storage infrastructure and create efficient operational policies to dramatically improve data availability, protection, and recovery.
``Large enterprises want to centralize and automate data storage management as much as possible,`` stated Peter Bell, Chairman and Chief Executive Officer of StorageNetworks. ``Our software platform provides our customers with a storage `blue-print`, combining comprehensive asset information with detailed management policies. As a result, our customers can manage their environments very efficiently and to high levels of availability and recoverability.``
Host Agents Enhance Centralized Reporting and Analysis
StorageNetworks today announced version 2.1 of the STORos operating system including support for host agents. The STORos operating system is the industry`s first storage-specific operating system that integrates and centralizes the distributed and heterogeneous management elements of a storage network.
With the addition of host agents, the STORos operating system captures detailed utilization statistics for both direct-attached and networked storage environments. Version 4.1 of the Virtual Storage Portal software enables enterprise customers to centrally view these utilization statistics for SAN, NAS, and direct-attached storage environments within a single, integrated interface. Additionally, customers can be automatically notified when capacity thresholds are exceeded.
``These reports allow our customers to quickly identify under-utilized and inefficient storage assets,`` said Bill Miller, Chief Technical Officer of StorageNetworks. ``As companies plan to migrate from a direct-attached to a networked environment, our host agent enables enterprises to prioritize migration plans and improve utilization rates, availability and the underlying cost structure of their storage infrastructure.``
Virtualization Support Extends Multi-Vendor Storage Management Platform
This latest version of the STORos operating system now supports several new storage technologies including Vicom`s virtualization engine. Virtualization provides enterprise customers with greater flexibility in provisioning new storage resources through a single, logical pool of networked storage.
StorageNetworks also added support for McData fiber channel switches, Hewlett Packard storage arrays, and new filers from Network Appliance. These technologies, qualified through StorageNetworks` interoperability labs, further extend StorageNetworks` storage management leadership and broad multi-vendor support. The STORos operating system supports technologies from the following industry-leading vendors: Compaq, EMC, Hitachi Data Systems, Sun Microsystems, Network Appliance, Hewlett Packard, Brocade, Cisco, McData, StorageTek, ADIC, Veritas, Legato and Vicom.
Application Programming Interface Integrates Customer Management Frameworks
StorageNetworks also announced that Pihana Pacific is integrating StorageNetworks` STORos API technology into its delivery of storage services. The STORos API enables customers to incorporate information from the STORos operating system into existing management frameworks and applications, including billing, provisioning, and ticketing systems. Pihana Pacific, one of StorageNetworks` STORfusionSM service partners, is in the process of leveraging this information and integrating it into customized storage management tools.
``StorageNetworks` application programming interface allows us to create compelling storage management tools for our customers located in our facilities across the Asia/Pacific region,`` said Rich Kalbrener, Chief Executive Officer, Pihana Pacific. ``These robust management tools are key to improving data availability and customer satisfaction within large, complex storage environments and will help us provide additional value to our customers.``
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks is a registered servicemark and STORos, Virtual Storage Portal, STORvision and STORfusion are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781-622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781-434-6373
erica.smith@storagenetworks.com
StorageNetworks Announces Enhanced Data Backup and Restore Software
Managed Services and Software Provide Enterprise Customers With Robust Data Availability, Protection and Recovery
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 9, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced the addition of new software that optimizes backup and restore environments for enterprise customers. The software is part of StorageNetworks® robust data storage management platform, which includes the STORos(SM) operating system, Virtual Storage Portal(SM) software, and STORvision(SM) software. This new software helps enterprises identify the inefficiencies and exposure that they typically experience within their backup environments. Specifically, the new software automates the labor-intensive tasks of accurately measuring backup success rates, assessing host and files system coverage, and calculating backup media requirements.
The software collects pertinent host-based information, extracts backup details from the customers` backup environment and performs unique analysis, resulting in an accurate backup audit. In addition, this software helps customers prioritize their data and establish proper tape management. Designed as a family of analysis tools to provide customers with empirical information, the software helps enterprise organizations develop an overall data protection strategy.
The new software compliments StorageNetworks existing STORbackup services. These fully managed backup and restore services provide the day-to-day operational management and support of backup environments for enterprise customers. STORbackup services are backed by a Service Level Agreement that guarantees 95% backup success rates within customer-specified backup windows. The services address the need for enterprise organizations to significantly improve backup yield - a metric that measures optimal host coverage, backup success rates, and backup policies that prioritize critical applications in order to help organizations understand how to maximize their restore capabilities.
``Our new automation software helps enterprises perform data recovery audits and implement comprehensive data recovery strategies,`` stated Bill Miller, chief technical officer of StorageNetworks. ``We are continuing to develop tools that automate backup and recovery and help customers create policies that safeguard their critical data. Coupled with our STORbackup managed services, our software is key to an effective data protection and recovery strategy.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos, STORvision and Virtual Storage Portal are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
Managed Services and Software Provide Enterprise Customers With Robust Data Availability, Protection and Recovery
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 9, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced the addition of new software that optimizes backup and restore environments for enterprise customers. The software is part of StorageNetworks® robust data storage management platform, which includes the STORos(SM) operating system, Virtual Storage Portal(SM) software, and STORvision(SM) software. This new software helps enterprises identify the inefficiencies and exposure that they typically experience within their backup environments. Specifically, the new software automates the labor-intensive tasks of accurately measuring backup success rates, assessing host and files system coverage, and calculating backup media requirements.
The software collects pertinent host-based information, extracts backup details from the customers` backup environment and performs unique analysis, resulting in an accurate backup audit. In addition, this software helps customers prioritize their data and establish proper tape management. Designed as a family of analysis tools to provide customers with empirical information, the software helps enterprise organizations develop an overall data protection strategy.
The new software compliments StorageNetworks existing STORbackup services. These fully managed backup and restore services provide the day-to-day operational management and support of backup environments for enterprise customers. STORbackup services are backed by a Service Level Agreement that guarantees 95% backup success rates within customer-specified backup windows. The services address the need for enterprise organizations to significantly improve backup yield - a metric that measures optimal host coverage, backup success rates, and backup policies that prioritize critical applications in order to help organizations understand how to maximize their restore capabilities.
``Our new automation software helps enterprises perform data recovery audits and implement comprehensive data recovery strategies,`` stated Bill Miller, chief technical officer of StorageNetworks. ``We are continuing to develop tools that automate backup and recovery and help customers create policies that safeguard their critical data. Coupled with our STORbackup managed services, our software is key to an effective data protection and recovery strategy.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos, STORvision and Virtual Storage Portal are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks Delivers Backup and Restore Services to Cisco Systems
Provides Software and Services To Significantly Improve Backup Yield In Cisco`s IT Environment
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 9, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, announced today that it has implemented data backup and restore services to Cisco Systems Inc., the worldwide leader in networking for the Internet. Specifically, StorageNetworks is now delivering its STORbackup services to Cisco`s engineering and computer services organization at Cisco`s headquarters in San Jose, California.
StorageNetworks® STORbackup services are fully managed backup and restore services that provide the day-to-day operational management and support of backup environments for enterprise customers. These services are backed by a Service Level Agreement that guarantees 95% backup success rates within customer-specified backup windows. The services address the need for enterprise organizations to significantly improve backup yield - a metric that measures optimal host coverage, backup success rates, and backup policies that prioritize critical applications.
``Data availability, protection and recovery are at the forefront of every CIO`s mind,`` said Peter Bell, Chairman and Chief Executive Officer of StorageNetworks. ``With our software and services, companies like Cisco are implementing a strategy to optimize backup policies, thereby increasing data recoverability and minimizing data loss.``
As part of the service, Cisco gains access to StorageNetworks` Virtual Storage Portal(SM) software. This software gives Cisco and other enterprise customers the ability to view their entire backup environment, with detailed success rate information displayed by host and saveset.
``StorageNetworks` software and services help enterprise customers like Cisco automate and centrally manage their data backup and recovery operations, even across a highly distributed infrastructure,`` said Doug Chandler, program director, IDC. ``As enterprise customers consolidate their server environments, StorageNetworks` services can make that transition less risky, more cost efficient and easier to carry out.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and Virtual Storage Portal is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
Provides Software and Services To Significantly Improve Backup Yield In Cisco`s IT Environment
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 9, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, announced today that it has implemented data backup and restore services to Cisco Systems Inc., the worldwide leader in networking for the Internet. Specifically, StorageNetworks is now delivering its STORbackup services to Cisco`s engineering and computer services organization at Cisco`s headquarters in San Jose, California.
StorageNetworks® STORbackup services are fully managed backup and restore services that provide the day-to-day operational management and support of backup environments for enterprise customers. These services are backed by a Service Level Agreement that guarantees 95% backup success rates within customer-specified backup windows. The services address the need for enterprise organizations to significantly improve backup yield - a metric that measures optimal host coverage, backup success rates, and backup policies that prioritize critical applications.
``Data availability, protection and recovery are at the forefront of every CIO`s mind,`` said Peter Bell, Chairman and Chief Executive Officer of StorageNetworks. ``With our software and services, companies like Cisco are implementing a strategy to optimize backup policies, thereby increasing data recoverability and minimizing data loss.``
As part of the service, Cisco gains access to StorageNetworks` Virtual Storage Portal(SM) software. This software gives Cisco and other enterprise customers the ability to view their entire backup environment, with detailed success rate information displayed by host and saveset.
``StorageNetworks` software and services help enterprise customers like Cisco automate and centrally manage their data backup and recovery operations, even across a highly distributed infrastructure,`` said Doug Chandler, program director, IDC. ``As enterprise customers consolidate their server environments, StorageNetworks` services can make that transition less risky, more cost efficient and easier to carry out.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ:STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and Virtual Storage Portal is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks Announces Third-Quarter Financial Results Conference Call
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 11, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced that the company will hold a conference call on October 18, 2001 at 8:00 AM EST with Peter Bell, chairman and chief executive officer, and Paul Flanagan, chief financial officer, to discuss the financial results for the third quarter of 2001. A question and answer session will follow opening remarks from management.
A live Webcast of the call will be available and accessible from the investor relations section of the Company`s website at www.StorageNetworks.com. The call may be joined via telephone by dialing (800) 399-0087 domestically and (706) 634-0988 internationally at least 5 minutes prior to the start of the call. The passcode is: 2078396.
An audio replay will be available on the company`s Web site in the investor relations` section. In addition, you may access the replay by dialing (800) 642-1687 domestically and (706) 645-9291 internationally. The conference ID code is: 2078396. The replay will be available through October 25, 2001.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
--------------------------------------------------------------------------------
Contact:
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 11, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced that the company will hold a conference call on October 18, 2001 at 8:00 AM EST with Peter Bell, chairman and chief executive officer, and Paul Flanagan, chief financial officer, to discuss the financial results for the third quarter of 2001. A question and answer session will follow opening remarks from management.
A live Webcast of the call will be available and accessible from the investor relations section of the Company`s website at www.StorageNetworks.com. The call may be joined via telephone by dialing (800) 399-0087 domestically and (706) 634-0988 internationally at least 5 minutes prior to the start of the call. The passcode is: 2078396.
An audio replay will be available on the company`s Web site in the investor relations` section. In addition, you may access the replay by dialing (800) 642-1687 domestically and (706) 645-9291 internationally. The conference ID code is: 2078396. The replay will be available through October 25, 2001.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit its Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
--------------------------------------------------------------------------------
Contact:
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks and BellSouth Enter Into STORfusion Services Agreement
StorageNetworks Will Provide Software And Services to Operate The BellSouth Storage-Enabled Network
WALTHAM, Mass. & ATLANTA--(BUSINESS WIRE)--Oct. 15, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, announced today that it has entered into a STORfusion(SM) services agreement with BellSouth (NYSE: BLS - news), a Fortune 100 telecommunications company serving nearly 46 million customers in the U.S. and abroad.
StorageNetworks® is partnering with BellSouth to provide its STORos(SM) operating system, STORvision(SM) command and control software and Virtual Storage Portal(SM) (VSP(SM)) software as a reliable, scalable and secure operating infrastructure layer for the BellSouth Storage-Enabled Network (SEN). The BellSouth SEN will combine StorageNetworks` software and services with the robust BellSouth network to provide a wide range of network-centric storage services to both businesses and consumers. The STORos operating system, the industry`s only storage network operating system, integrates and centralizes the distributed and heterogeneous management elements of a storage environment. StorageNetworks` Virtual Storage Portal (VSP) and STORvision command and control software allow end users and service providers to directly access, control and manage their storage infrastructure.
``StorageNetworks shares the SEN vision with BellSouth and is pleased to have the opportunity to provide our industry leading software and services as the operating system for the BellSouth Storage-Enabled Network. Moving storage intelligence onto the network gives customers greater control over their storage environments and automates labor intensive, complex storage management tasks,`` said Peter Bell, chairman and CEO of StorageNetworks. ``We firmly believe that the future of data storage is centralized storage management where the intelligence resides at the core of the network. BellSouth`s extensive communications network, and our intelligent software delivered as a service, illustrates that we are delivering the future of data storage via the Storage-Enabled Network.``
``StorageNetworks` innovative software and services will allow us to deliver on the promise that BellSouth made eighteen months ago - to expand BellSouth`s e-Platform initiative - by providing robust storage management services to our customers, while leveraging our world-class communications infrastructure,`` said Donna Lee, chief marketing officer of BellSouth. ``With StorageNetworks` STORfusion services, we have an opportunity to create new sources of incremental revenue by offering data storage management services to our customers that drive cost and complexity out of their storage environments.``
The agreement with BellSouth coincides with the launch of BellSouth Managed Storage Services and the introduction of its shared SEN vision. The two companies share a common plan to enable the network to provide the optimal storage environment, which can deliver all the capabilities required to intelligently store increasing quantities of data and information created in today`s e-enabled world. The SEN will evolve to incorporate both an operational and architectural framework that not only enables data storage, but also provides robust capabilities to move and access data across long distances and a range of applications and end users.
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our software and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks is a registered servicemark and STORfusion, STORos, Virtual Storage Portal, and VSP are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks Will Provide Software And Services to Operate The BellSouth Storage-Enabled Network
WALTHAM, Mass. & ATLANTA--(BUSINESS WIRE)--Oct. 15, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, announced today that it has entered into a STORfusion(SM) services agreement with BellSouth (NYSE: BLS - news), a Fortune 100 telecommunications company serving nearly 46 million customers in the U.S. and abroad.
StorageNetworks® is partnering with BellSouth to provide its STORos(SM) operating system, STORvision(SM) command and control software and Virtual Storage Portal(SM) (VSP(SM)) software as a reliable, scalable and secure operating infrastructure layer for the BellSouth Storage-Enabled Network (SEN). The BellSouth SEN will combine StorageNetworks` software and services with the robust BellSouth network to provide a wide range of network-centric storage services to both businesses and consumers. The STORos operating system, the industry`s only storage network operating system, integrates and centralizes the distributed and heterogeneous management elements of a storage environment. StorageNetworks` Virtual Storage Portal (VSP) and STORvision command and control software allow end users and service providers to directly access, control and manage their storage infrastructure.
``StorageNetworks shares the SEN vision with BellSouth and is pleased to have the opportunity to provide our industry leading software and services as the operating system for the BellSouth Storage-Enabled Network. Moving storage intelligence onto the network gives customers greater control over their storage environments and automates labor intensive, complex storage management tasks,`` said Peter Bell, chairman and CEO of StorageNetworks. ``We firmly believe that the future of data storage is centralized storage management where the intelligence resides at the core of the network. BellSouth`s extensive communications network, and our intelligent software delivered as a service, illustrates that we are delivering the future of data storage via the Storage-Enabled Network.``
``StorageNetworks` innovative software and services will allow us to deliver on the promise that BellSouth made eighteen months ago - to expand BellSouth`s e-Platform initiative - by providing robust storage management services to our customers, while leveraging our world-class communications infrastructure,`` said Donna Lee, chief marketing officer of BellSouth. ``With StorageNetworks` STORfusion services, we have an opportunity to create new sources of incremental revenue by offering data storage management services to our customers that drive cost and complexity out of their storage environments.``
The agreement with BellSouth coincides with the launch of BellSouth Managed Storage Services and the introduction of its shared SEN vision. The two companies share a common plan to enable the network to provide the optimal storage environment, which can deliver all the capabilities required to intelligently store increasing quantities of data and information created in today`s e-enabled world. The SEN will evolve to incorporate both an operational and architectural framework that not only enables data storage, but also provides robust capabilities to move and access data across long distances and a range of applications and end users.
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our software and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks is a registered servicemark and STORfusion, STORos, Virtual Storage Portal, and VSP are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks Announces Third-Quarter Results
Third Quarter Revenue Grew 120% from Same Period Last Year Company Reaches Gross Margin Profitability
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 18, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced revenues for the third quarter ended September 30, 2001 of $31.5 million, a 120% increase over revenues of $14.3 million in the third quarter of 2000. StorageNetworks managed services revenue for the quarter was $29.8 million equal to $29.8 million in the second quarter of this year. Total revenues were $33.4 million in the second quarter of 2001.
The company reported an EBITDA loss (net loss before interest, taxes, depreciation, amortization and non-cash stock compensation) of $11.2 million, a 38% improvement over an EBITDA loss of $18.2 million in the second quarter of 2001. The company also reported a net loss of $27.0 million, or $0.28 per share, a 16% improvement from a loss of $32.2 million, or $0.33 per share, for the second quarter of 2001. The company finished the quarter with $326 million in cash and cash equivalents.
``I was pleased with the financial performance of our company for the quarter ended September 30, 2001,`` stated Peter Bell, StorageNetworks` Chairman and Chief Executive Officer. ``Revenues met expectations while results of operations exceeded expectations. Just as importantly, enterprise organizations continue to recognize the value of our software and services. New customers including Cingular Wireless, Charles Schwab, Hewitt Associates, Manulife Financial, Peregrine Systems, Salomon Smith Barney and Zurich Scudder Investments recognize the value of StorageNetworks offerings and have signed agreements for StorageNetworks® STORconsulting and / or managed service offerings such as STORmanage(sm) and STORbackup.``
``We also signed a STORfusion partnership with BellSouth. After an extensive evaluation we are proud to have been selected by BellSouth to be their partner in the delivery of managed storage services. BellSouth will provide the assets and infrastructure and will utilize our industry leading software, including the STORos(sm) operating system, Virtual Storage Portal(sm) software, STORvision(sm) software, as well as our expertise and best practices in networked storage to provide value added storage management services to their customers in their network and located in their data centers. We believe that BellSouth, and our other STORfusion customers, will be future growth drivers in 2002 and beyond,`` continued Bell.
Repeat managed services customers or expanded engagements during the quarter included L`Oreal, Lycos, Adidas, Peoplesoft, Best Buy and Sun Microsystems. StorageNetworks repeat customers resulted in average annualized revenue per customer increasing to approximately $590,000 from $550,000 in the previous quarter.
``We had strong financial results in the third quarter,`` stated Paul Flanagan, Executive Vice President and Chief Financial Officer. ``We met top line and gross margin profitability expectations and exceeded expectations in terms of EBITDA loss, operating loss and loss per share. And very importantly, we finished the quarter with a strong balance sheet.``
StorageNetworks finished the quarter with $326 million in cash. Days sales outstanding in accounts receivables increased from 45 days at the end of the previous quarter to 51 days at September 30, 2001. ``The increase in our days sales outstanding was related entirely to one of our very good partners filing a petition for protection under chapter 11 of the bankruptcy code. We have been actively addressing this situation with our partner and the end user customers to ensure the continued delivery of world class storage services to these customers,`` continued Flanagan. ``As a result of this situation, we have included in the financial results for the quarter a charge to earnings of $1.5 million to provide for any collectibility issues associated with this situation.``
Additional Financial Highlights
Twelve-month backlog of $105 million at September 30, 2001 (represents 12-month backlog on signed contracts plus an estimate of anticipated renewals on contracts with less than 12 months remaining).
Gross margins for the third quarter were 3% of sales, an improvement from negative 3% in the previous quarter.
Revenues from enterprise accounts increased to 68% of revenues, up from 58% in the previous quarter.
Twelve-month backlog from enterprise accounts continues to increase to 80% at the end of the third quarter, up from 72% at the end of the previous quarter.
``The challenging economic environment has resulted in our facing longer sales cycles. Additionally, we continue to see fall out of our early dot.com customers. As a result, driving forward and signing new deals keeps our managed service revenues and 12-month backlog from declining. However, I am pleased with the improvement in the quality of our customer base,`` concluded Flanagan.
StorageNetworks recently announced the addition of Tony Scotto, as Senior Vice President of Product Development. Tony will be responsible for enhancing the company`s industry leading data storage management software platform. The company also announced organizational changes with the departure of Ken Fehrnstrom, StorageNetworks former President and Chief Operating Officer. Peter Bell will continue with responsibility for the company`s day-to-day operations.
``Today, more than ever before, enterprise organizations need to drive efficiencies into their business, ensure data availability and protection and improve their cost structure. We have the right software and services to solve these challenges. Our recent customer wins, innovative software platform, and strong balance sheet position StorageNetworks as an industry leader who will continue to succeed in this market place,`` concluded Bell.
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, anticipated renewals for the services, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve and maintain gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks is a registered servicemark and STORmanage, STORfusion, STORos, Virtual Storage Portal and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
Dec. 31, Sept. 30,
2000 2001
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 304,861 $ 215,510
Short-term investments 84,767 77,827
Accounts receivable, net 7,886 19,293
Prepaid expenses and other current assets 10,044 14,083
Total current assets 407,558 326,713
Property and equipment, net 135,867 152,761
Restricted cash equivalents 32,133 32,781
Rights to use fiber optic capacity 7,595 9,220
Other assets 19,460 18,510
Total assets $ 602,613 539,985
LIABILITIES AND STOCKHOLDERS` EQUITY
CURRENT LIABILITIES:
Accounts payable $ 3,746 $ 7,385
Accrued expenses 23,134 31,673
Deferred revenue 5,938 9,297
Capital lease obligations 36,617 51,309
Total current liabilities 69,435 99,664
Capital lease obligations, less current portion 94,050 88,681
STOCKHOLDERS` EQUITY:
Common stock 954 971
Treasury stock -- (200)
Additional paid-in capital 601,649 599,456
Deferred stock compensation (13,754) (7,606)
Accumulated other comprehensive income (406) 395
Accumulated deficit (149,315) (241,376)
Total stockholders` equity 439,128 351,640
Total liabilities and
stockholders` equity $ 602,613 $ 539,985
StorageNetworks, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
2000 2001 2000 2001
REVENUES:
Managed storage
services revenues $ 9,483 $ 29,788 $ 14,463 $ 82,655
Professional services
revenues 4,837 1,752 12,515 9,392
Total revenues 14,320 31,540 26,978 92,047
COSTS AND EXPENSES:
Cost of managed storage
services revenues,
excluding deferred
stock compensation
amortization amounts 21,916 29,482 48,712 91,781
Cost of professional
services revenues,
excluding deferred
stock compensation
amortization amounts 4,987 1,034 14,953 6,015
Sales and marketing,
excluding deferred
stock compensation
amortization amounts 14,756 12,004 35,505 48,797
General and administrative,
excluding deferred stock
compensation amortization
amounts 4,983 7,691 12,741 18,951
Research and development,
excluding deferred stock
compensation amortization
amounts 3,174 6,309 7,697 17,189
Amortization of deferred
stock compensation* 1,256 870 3,833 3,218
Total costs and expenses 51,072 57,390 123,441 185,951
Loss from operations (36,752) (25,850) (96,463) (93,904)
Interest income 5,682 3,191 9,435 12,944
Interest expense (2,422) (4,081) (4,797) (10,845)
Other expense - (256) (256)
Net loss $(33,492)$ (26,996)$ (91,825)$ (92,061)
Net loss per share--basic
and diluted $ (0.37)$ (0.28)$ (1.94)$ (0.95)
Weighted average common
shares outstanding 90,890 96,723 47,422 96,421
EBITDA (1) $(27,537)$ (11,229)$ (77,364)$ (51,567)
*Amortization of deferred
stock compensation
Cost of managed storage
services revenues $ 89 $ 100 $ 372 $ 422
Cost of professional services
revenues 115 48 415 159
Sales and marketing 440 158 1,231 945
General and administrative 104 99 475 301
Research and development 508 465 1,340 1,391
$ 1,256 $ 870 3,833 $ 3,218
(1) Net loss before interest, taxes, depreciation, amortization and
non-cash stock compensation
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
Third Quarter Revenue Grew 120% from Same Period Last Year Company Reaches Gross Margin Profitability
WALTHAM, Mass.--(BUSINESS WIRE)--Oct. 18, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management services, today announced revenues for the third quarter ended September 30, 2001 of $31.5 million, a 120% increase over revenues of $14.3 million in the third quarter of 2000. StorageNetworks managed services revenue for the quarter was $29.8 million equal to $29.8 million in the second quarter of this year. Total revenues were $33.4 million in the second quarter of 2001.
The company reported an EBITDA loss (net loss before interest, taxes, depreciation, amortization and non-cash stock compensation) of $11.2 million, a 38% improvement over an EBITDA loss of $18.2 million in the second quarter of 2001. The company also reported a net loss of $27.0 million, or $0.28 per share, a 16% improvement from a loss of $32.2 million, or $0.33 per share, for the second quarter of 2001. The company finished the quarter with $326 million in cash and cash equivalents.
``I was pleased with the financial performance of our company for the quarter ended September 30, 2001,`` stated Peter Bell, StorageNetworks` Chairman and Chief Executive Officer. ``Revenues met expectations while results of operations exceeded expectations. Just as importantly, enterprise organizations continue to recognize the value of our software and services. New customers including Cingular Wireless, Charles Schwab, Hewitt Associates, Manulife Financial, Peregrine Systems, Salomon Smith Barney and Zurich Scudder Investments recognize the value of StorageNetworks offerings and have signed agreements for StorageNetworks® STORconsulting and / or managed service offerings such as STORmanage(sm) and STORbackup.``
``We also signed a STORfusion partnership with BellSouth. After an extensive evaluation we are proud to have been selected by BellSouth to be their partner in the delivery of managed storage services. BellSouth will provide the assets and infrastructure and will utilize our industry leading software, including the STORos(sm) operating system, Virtual Storage Portal(sm) software, STORvision(sm) software, as well as our expertise and best practices in networked storage to provide value added storage management services to their customers in their network and located in their data centers. We believe that BellSouth, and our other STORfusion customers, will be future growth drivers in 2002 and beyond,`` continued Bell.
Repeat managed services customers or expanded engagements during the quarter included L`Oreal, Lycos, Adidas, Peoplesoft, Best Buy and Sun Microsystems. StorageNetworks repeat customers resulted in average annualized revenue per customer increasing to approximately $590,000 from $550,000 in the previous quarter.
``We had strong financial results in the third quarter,`` stated Paul Flanagan, Executive Vice President and Chief Financial Officer. ``We met top line and gross margin profitability expectations and exceeded expectations in terms of EBITDA loss, operating loss and loss per share. And very importantly, we finished the quarter with a strong balance sheet.``
StorageNetworks finished the quarter with $326 million in cash. Days sales outstanding in accounts receivables increased from 45 days at the end of the previous quarter to 51 days at September 30, 2001. ``The increase in our days sales outstanding was related entirely to one of our very good partners filing a petition for protection under chapter 11 of the bankruptcy code. We have been actively addressing this situation with our partner and the end user customers to ensure the continued delivery of world class storage services to these customers,`` continued Flanagan. ``As a result of this situation, we have included in the financial results for the quarter a charge to earnings of $1.5 million to provide for any collectibility issues associated with this situation.``
Additional Financial Highlights
Twelve-month backlog of $105 million at September 30, 2001 (represents 12-month backlog on signed contracts plus an estimate of anticipated renewals on contracts with less than 12 months remaining).
Gross margins for the third quarter were 3% of sales, an improvement from negative 3% in the previous quarter.
Revenues from enterprise accounts increased to 68% of revenues, up from 58% in the previous quarter.
Twelve-month backlog from enterprise accounts continues to increase to 80% at the end of the third quarter, up from 72% at the end of the previous quarter.
``The challenging economic environment has resulted in our facing longer sales cycles. Additionally, we continue to see fall out of our early dot.com customers. As a result, driving forward and signing new deals keeps our managed service revenues and 12-month backlog from declining. However, I am pleased with the improvement in the quality of our customer base,`` concluded Flanagan.
StorageNetworks recently announced the addition of Tony Scotto, as Senior Vice President of Product Development. Tony will be responsible for enhancing the company`s industry leading data storage management software platform. The company also announced organizational changes with the departure of Ken Fehrnstrom, StorageNetworks former President and Chief Operating Officer. Peter Bell will continue with responsibility for the company`s day-to-day operations.
``Today, more than ever before, enterprise organizations need to drive efficiencies into their business, ensure data availability and protection and improve their cost structure. We have the right software and services to solve these challenges. Our recent customer wins, innovative software platform, and strong balance sheet position StorageNetworks as an industry leader who will continue to succeed in this market place,`` concluded Bell.
About StorageNetworks, Inc.
StorageNetworks, Inc. is the world`s leading provider of data storage management services, and an innovator of storage management software. Our technology, software, and services enable enterprises and service providers to easily and cost-effectively store rapidly growing volumes of business-critical information. We simplify data storage management and empower our customers with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For further information, visit our Web site at www.StorageNetworks.com, email info@StorageNetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, anticipated renewals for the services, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve and maintain gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks is a registered servicemark and STORmanage, STORfusion, STORos, Virtual Storage Portal and STORvision are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
Dec. 31, Sept. 30,
2000 2001
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 304,861 $ 215,510
Short-term investments 84,767 77,827
Accounts receivable, net 7,886 19,293
Prepaid expenses and other current assets 10,044 14,083
Total current assets 407,558 326,713
Property and equipment, net 135,867 152,761
Restricted cash equivalents 32,133 32,781
Rights to use fiber optic capacity 7,595 9,220
Other assets 19,460 18,510
Total assets $ 602,613 539,985
LIABILITIES AND STOCKHOLDERS` EQUITY
CURRENT LIABILITIES:
Accounts payable $ 3,746 $ 7,385
Accrued expenses 23,134 31,673
Deferred revenue 5,938 9,297
Capital lease obligations 36,617 51,309
Total current liabilities 69,435 99,664
Capital lease obligations, less current portion 94,050 88,681
STOCKHOLDERS` EQUITY:
Common stock 954 971
Treasury stock -- (200)
Additional paid-in capital 601,649 599,456
Deferred stock compensation (13,754) (7,606)
Accumulated other comprehensive income (406) 395
Accumulated deficit (149,315) (241,376)
Total stockholders` equity 439,128 351,640
Total liabilities and
stockholders` equity $ 602,613 $ 539,985
StorageNetworks, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended Nine Months Ended
September 30, September 30,
2000 2001 2000 2001
REVENUES:
Managed storage
services revenues $ 9,483 $ 29,788 $ 14,463 $ 82,655
Professional services
revenues 4,837 1,752 12,515 9,392
Total revenues 14,320 31,540 26,978 92,047
COSTS AND EXPENSES:
Cost of managed storage
services revenues,
excluding deferred
stock compensation
amortization amounts 21,916 29,482 48,712 91,781
Cost of professional
services revenues,
excluding deferred
stock compensation
amortization amounts 4,987 1,034 14,953 6,015
Sales and marketing,
excluding deferred
stock compensation
amortization amounts 14,756 12,004 35,505 48,797
General and administrative,
excluding deferred stock
compensation amortization
amounts 4,983 7,691 12,741 18,951
Research and development,
excluding deferred stock
compensation amortization
amounts 3,174 6,309 7,697 17,189
Amortization of deferred
stock compensation* 1,256 870 3,833 3,218
Total costs and expenses 51,072 57,390 123,441 185,951
Loss from operations (36,752) (25,850) (96,463) (93,904)
Interest income 5,682 3,191 9,435 12,944
Interest expense (2,422) (4,081) (4,797) (10,845)
Other expense - (256) (256)
Net loss $(33,492)$ (26,996)$ (91,825)$ (92,061)
Net loss per share--basic
and diluted $ (0.37)$ (0.28)$ (1.94)$ (0.95)
Weighted average common
shares outstanding 90,890 96,723 47,422 96,421
EBITDA (1) $(27,537)$ (11,229)$ (77,364)$ (51,567)
*Amortization of deferred
stock compensation
Cost of managed storage
services revenues $ 89 $ 100 $ 372 $ 422
Cost of professional services
revenues 115 48 415 159
Sales and marketing 440 158 1,231 945
General and administrative 104 99 475 301
Research and development 508 465 1,340 1,391
$ 1,256 $ 870 3,833 $ 3,218
(1) Net loss before interest, taxes, depreciation, amortization and
non-cash stock compensation
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
07:53 ET StorageNetworks (STOR) 6.42: Posts Q3 loss of $0.28 a share, $0.02 better than consensus. Rev rose 120% to $31.5 mln (mean $31 mln).
Van Wagoner buying software stocks
By Justin Wiser, CBS.MarketWatch.com
Last Update: 2:02 PM ET Oct. 22, 2001
SAN FRANCISCO (CBS.MW) - Renowned tech investor Garrett Van Wagoner took advantage of weakness in the third quarter to pick up battered software stocks, according to regulatory filings.
Van Wagoner -- who rode 1999`s bull market to triple-digit gains in all five of his mutual funds -- added to positions in companies such as Quest Software (QSFT: news, chart, profile) and I-Many (IMNY: news, chart, profile) he revealed in a holdings report filed with the SEC on Friday.
The quarterly filing, which details all holdings as of September 30, also showed that Web software maker Interwoven (IWOV: news, chart, profile) continued to be Van Wagoner Capital Management`s largest holding. (The filing does not break down holdings by each fund.) Still, software stocks have yet to boost sagging fund performance.
"All year, his big bet has been that in a slowing environment, software is the place to be," said Chris Traulsen, a fund analyst with Morningstar. "It proved to be wrong -- it failed to take in account that these companies were pretty richly valued."
The Van Wagoner funds have suffered mightily through the bear market -- all five have lost more than half their value this year. The Emerging Growth (VWEGX: news, chart, profile) and Technology (VWTKX: news, chart, profile) funds are off by 70 percent year-to-date.
The company was not immediately available for comment.
Bigger software stake
Van Wagoner has been buying shares of several e-business software names in addition to I-Many.
The company upped its stake in Embarcadero Technology (EMBT: news, chart, profile) to 3 million shares from 2.7 million shares over the quarter.
Its stake in Actuate Corp. (ACTU: news, chart, profile) grew to 1.6 million shares from 870,000 shares, and its investment in MatrixOne (MONE: news, chart, profile) jumped to 1.5 million shares from 970,000 shares.
All three stocks have rebounded from recent lows, but remain well off their 52-week highs.
The company also added to its position in data storage software and services provider Storagenetworks (STOR: news, chart, profile), and now holds 4.9 million shares, up from 2.8 million.
Van Wagoner closed out its position in a number of bellwether tech names during the third quarter, including Nokia, AOL Time Warner and Sun Microsystems.
"It may be an indicator that he thinks there`s better value to be found in the smaller names and their higher growth rates," Traulsen said.
Garrett Van Wagoner founded Van Wagoner Capital Management in 1995 after establishing his reputation with success at the Govett Smaller Companies Fund during the early 1990s. Van Wagoner had $1.2 billion in assets under management as of June.
Justin Wiser is a reporter for CBS.MarketWatch.com in Washington.
By Justin Wiser, CBS.MarketWatch.com
Last Update: 2:02 PM ET Oct. 22, 2001
SAN FRANCISCO (CBS.MW) - Renowned tech investor Garrett Van Wagoner took advantage of weakness in the third quarter to pick up battered software stocks, according to regulatory filings.
Van Wagoner -- who rode 1999`s bull market to triple-digit gains in all five of his mutual funds -- added to positions in companies such as Quest Software (QSFT: news, chart, profile) and I-Many (IMNY: news, chart, profile) he revealed in a holdings report filed with the SEC on Friday.
The quarterly filing, which details all holdings as of September 30, also showed that Web software maker Interwoven (IWOV: news, chart, profile) continued to be Van Wagoner Capital Management`s largest holding. (The filing does not break down holdings by each fund.) Still, software stocks have yet to boost sagging fund performance.
"All year, his big bet has been that in a slowing environment, software is the place to be," said Chris Traulsen, a fund analyst with Morningstar. "It proved to be wrong -- it failed to take in account that these companies were pretty richly valued."
The Van Wagoner funds have suffered mightily through the bear market -- all five have lost more than half their value this year. The Emerging Growth (VWEGX: news, chart, profile) and Technology (VWTKX: news, chart, profile) funds are off by 70 percent year-to-date.
The company was not immediately available for comment.
Bigger software stake
Van Wagoner has been buying shares of several e-business software names in addition to I-Many.
The company upped its stake in Embarcadero Technology (EMBT: news, chart, profile) to 3 million shares from 2.7 million shares over the quarter.
Its stake in Actuate Corp. (ACTU: news, chart, profile) grew to 1.6 million shares from 870,000 shares, and its investment in MatrixOne (MONE: news, chart, profile) jumped to 1.5 million shares from 970,000 shares.
All three stocks have rebounded from recent lows, but remain well off their 52-week highs.
The company also added to its position in data storage software and services provider Storagenetworks (STOR: news, chart, profile), and now holds 4.9 million shares, up from 2.8 million.
Van Wagoner closed out its position in a number of bellwether tech names during the third quarter, including Nokia, AOL Time Warner and Sun Microsystems.
"It may be an indicator that he thinks there`s better value to be found in the smaller names and their higher growth rates," Traulsen said.
Garrett Van Wagoner founded Van Wagoner Capital Management in 1995 after establishing his reputation with success at the Govett Smaller Companies Fund during the early 1990s. Van Wagoner had $1.2 billion in assets under management as of June.
Justin Wiser is a reporter for CBS.MarketWatch.com in Washington.
StorageNetworks and Exodus Communications Reaffirm Cooperative Relationship
Companies Reach Financial Agreement and Look Toward Continued Cooperation
WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 7, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, and Exodus Communications, Inc., the leading provider of managed hosting services, announced today that they have reaffirmed their cooperative business relationship and resolved all outstanding financial matters between the companies.
Exodus has agreed to assume all material contracts between Exodus and StorageNetworks, including the Joint Marketing and Services Agreement under which StorageNetworks provides services to customers located in Exodus` Internet Data Centers. The agreement announced today ensures that the parties joint customers will continue to receive uninterrupted storage services and that the parties will receive the full economic benefits of the relationship on both a historical and going forward basis.
StorageNetworks will continue to leverage Exodus` state-of-the-art data centers to deliver the full spectrum of data storage solutions, from primary data storage to tape backup and restore and business continuity solutions, to both existing and new customers. All services are fully managed and supported by a comprehensive service level agreement, 24x7 monitoring, an extensive data storage infrastructure, and StorageNetworks® STORos(SM) operating system, the industry`s only storage-specific operating system.
According to StorageNetworks` Chief Financial Officer Paul Flanagan, ``We are pleased with the mutually beneficial outcome of our conversations with Exodus and our continued joint cooperation. We look forward to continue working with Exodus. Both companies are committed to providing our customers with world-class data storage management solutions that address their needs not only today, but as data requirements continue to grow in the future.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management services and software. Our unique services and software enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to Exodus Communications bankruptcy proceedings, the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, anticipated renewals for the services, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve and maintain gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks is a registered servicemark and STORos is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
Companies Reach Financial Agreement and Look Toward Continued Cooperation
WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 7, 2001--StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, and Exodus Communications, Inc., the leading provider of managed hosting services, announced today that they have reaffirmed their cooperative business relationship and resolved all outstanding financial matters between the companies.
Exodus has agreed to assume all material contracts between Exodus and StorageNetworks, including the Joint Marketing and Services Agreement under which StorageNetworks provides services to customers located in Exodus` Internet Data Centers. The agreement announced today ensures that the parties joint customers will continue to receive uninterrupted storage services and that the parties will receive the full economic benefits of the relationship on both a historical and going forward basis.
StorageNetworks will continue to leverage Exodus` state-of-the-art data centers to deliver the full spectrum of data storage solutions, from primary data storage to tape backup and restore and business continuity solutions, to both existing and new customers. All services are fully managed and supported by a comprehensive service level agreement, 24x7 monitoring, an extensive data storage infrastructure, and StorageNetworks® STORos(SM) operating system, the industry`s only storage-specific operating system.
According to StorageNetworks` Chief Financial Officer Paul Flanagan, ``We are pleased with the mutually beneficial outcome of our conversations with Exodus and our continued joint cooperation. We look forward to continue working with Exodus. Both companies are committed to providing our customers with world-class data storage management solutions that address their needs not only today, but as data requirements continue to grow in the future.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management services and software. Our unique services and software enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to Exodus Communications bankruptcy proceedings, the attractiveness of StorageNetworks` services and technology to its current and potential customers, potential variations in quarterly revenues and operating results, anticipated renewals for the services, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve and maintain gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended June 30, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks is a registered servicemark and STORos is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
Hewitt Associates Chooses StorageNetworks for Backup and Recovery Services
StorageNetworks Provides Storage Management Software and Services to Ensure Data Protection, Recoverability and Reliability
WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 8, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, announced today that it will be providing STORbackup services to Hewitt Associates, a global management consulting and outsourcing firm specializing in human resource solutions. StorageNetworks® will backup a minimum of 180 terabytes of data from two of Hewitt`s Lincolnshire, IL data centers, managing backups for nearly all of Hewitt`s internal and client data center applications, including finance, purchasing, human resources and other business-critical applications.
``Backup and recovery operations are a fundamental part of our day-to-day operations, as well as our long-term business continuance,`` said Wendy Betts at Hewitt. ``Working with StorageNetworks, we meet our significant backup and recovery requirements, while concentrating on our core business.``
StorageNetworks STORbackup services are fully managed backup and restore services that provide the day-to-day operational management and support of backup environments for enterprise customers. These services are backed by a Service Level Agreement that guarantees 95% backup success rates within customer-specified backup windows. The services address the need for enterprise organizations to significantly improve backup yield - a metric that measures optimal host coverage, backup success rates, and backup policies.
``As the need for comprehensive backup and restore capabilities becomes increasingly important within enterprises, we are pleased to provide customers like Hewitt our software and services to ensure data protection, recoverability and reliability,`` said Peter Bell, chairman and CEO of StorageNetworks. ``Specifically, our software will provide detailed information across nearly every server in Hewitt`s primary data centers.``
As part of the service, Hewitt gains access to StorageNetworks` STORos(SM) operating system. This software gives Hewitt the ability to view their entire backup environment, with detailed backup success rate information displayed by host and backup jobs. This knowledge gives customers such as Hewitt true reporting and insight that will allow them to make the most informed storage planning, implementation and procurement decisions.
By leveraging StorageNetworks` industry-leading software platform, Hewitt will have the ability to significantly increase efficiencies and automation within their backup environment, while ensuring 24x7 access to mission critical data.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management services and software. Our unique services and software enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks Provides Storage Management Software and Services to Ensure Data Protection, Recoverability and Reliability
WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 8, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, announced today that it will be providing STORbackup services to Hewitt Associates, a global management consulting and outsourcing firm specializing in human resource solutions. StorageNetworks® will backup a minimum of 180 terabytes of data from two of Hewitt`s Lincolnshire, IL data centers, managing backups for nearly all of Hewitt`s internal and client data center applications, including finance, purchasing, human resources and other business-critical applications.
``Backup and recovery operations are a fundamental part of our day-to-day operations, as well as our long-term business continuance,`` said Wendy Betts at Hewitt. ``Working with StorageNetworks, we meet our significant backup and recovery requirements, while concentrating on our core business.``
StorageNetworks STORbackup services are fully managed backup and restore services that provide the day-to-day operational management and support of backup environments for enterprise customers. These services are backed by a Service Level Agreement that guarantees 95% backup success rates within customer-specified backup windows. The services address the need for enterprise organizations to significantly improve backup yield - a metric that measures optimal host coverage, backup success rates, and backup policies.
``As the need for comprehensive backup and restore capabilities becomes increasingly important within enterprises, we are pleased to provide customers like Hewitt our software and services to ensure data protection, recoverability and reliability,`` said Peter Bell, chairman and CEO of StorageNetworks. ``Specifically, our software will provide detailed information across nearly every server in Hewitt`s primary data centers.``
As part of the service, Hewitt gains access to StorageNetworks` STORos(SM) operating system. This software gives Hewitt the ability to view their entire backup environment, with detailed backup success rate information displayed by host and backup jobs. This knowledge gives customers such as Hewitt true reporting and insight that will allow them to make the most informed storage planning, implementation and procurement decisions.
By leveraging StorageNetworks` industry-leading software platform, Hewitt will have the ability to significantly increase efficiencies and automation within their backup environment, while ensuring 24x7 access to mission critical data.
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management services and software. Our unique services and software enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks Earns Prestigious SysTrust Assurance
Independent Audit By Deloitte & Touche LLP Confirms StorageNetworks` Data Security, Availability and Delivery Practices
WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 14, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, announced today that it has earned SysTrust(TM) Assurance. SysTrust Assurance is an independent evaluation of system reliability offered by members of the American Institute of Certified Public Accountants (AICPA) and the Canadian Institute of Chartered Accountants (CICA). SysTrust is a highly comprehensive evaluation because it addresses systems reliability, which includes availability, security, maintainability, and integrity. In addition, the testing measures both process and controls.
As part of the SysTrust Assurance evaluation, StorageNetworks provided detailed information about the company`s delivery infrastructure and technologies, and participated in a variety of tests conducted by Deloitte & Touche, the independent accounting firm engaged by StorageNetworks to conduct the evaluation.
As part of StorageNetworks` ongoing commitment to security, Deloitte & Touche was engaged to provide an independent audit on whether the company maintained effective controls over the areas of security, integrity, availability and maintainability. Deloitte & Touche rigorously evaluated StorageNetworks` operational practices and controls, and attested to the fact that StorageNetworks is in conformity with Systrust standards.
The scope of the SysTrust examination revolved around StorageNetworks® Customer Support Center (CSC). The review also included network devices and systems supporting the CSC, such as StorageNetworks Virtual Storage Portal(SM) software and STORvision(SM) software, key applications that are based on StorageNetworks` STORos(SM) storage management platform. Lastly, Deloitte & Touche examined the people, processes and data employed by StorageNetworks to manage and support the company`s ongoing managed services operations.
``Earning this SysTrust Assurance is an extremely important achievement for StorageNetworks,`` said Bill Campbell, StorageNetworks` director of security. ``The examination was rigorous and comprehensive, putting our security and delivery practices to the test. The results we achieved prove to our customers that StorageNetworks delivers on our promises of security, availability, integrity and maintainability.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our unique software and services enable enterprises, network service providers, and system integrators to deliver cost effective solutions to store, manage, and protect information on a global basis. StorageNetworks simplifies data storage management and empowers our customers with increased control and optimal utilization of complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos, STORvision and Virtual Storage Portal are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
StorageNetworks
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
Independent Audit By Deloitte & Touche LLP Confirms StorageNetworks` Data Security, Availability and Delivery Practices
WALTHAM, Mass.--(BUSINESS WIRE)--Nov. 14, 2001-- StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, announced today that it has earned SysTrust(TM) Assurance. SysTrust Assurance is an independent evaluation of system reliability offered by members of the American Institute of Certified Public Accountants (AICPA) and the Canadian Institute of Chartered Accountants (CICA). SysTrust is a highly comprehensive evaluation because it addresses systems reliability, which includes availability, security, maintainability, and integrity. In addition, the testing measures both process and controls.
As part of the SysTrust Assurance evaluation, StorageNetworks provided detailed information about the company`s delivery infrastructure and technologies, and participated in a variety of tests conducted by Deloitte & Touche, the independent accounting firm engaged by StorageNetworks to conduct the evaluation.
As part of StorageNetworks` ongoing commitment to security, Deloitte & Touche was engaged to provide an independent audit on whether the company maintained effective controls over the areas of security, integrity, availability and maintainability. Deloitte & Touche rigorously evaluated StorageNetworks` operational practices and controls, and attested to the fact that StorageNetworks is in conformity with Systrust standards.
The scope of the SysTrust examination revolved around StorageNetworks® Customer Support Center (CSC). The review also included network devices and systems supporting the CSC, such as StorageNetworks Virtual Storage Portal(SM) software and STORvision(SM) software, key applications that are based on StorageNetworks` STORos(SM) storage management platform. Lastly, Deloitte & Touche examined the people, processes and data employed by StorageNetworks to manage and support the company`s ongoing managed services operations.
``Earning this SysTrust Assurance is an extremely important achievement for StorageNetworks,`` said Bill Campbell, StorageNetworks` director of security. ``The examination was rigorous and comprehensive, putting our security and delivery practices to the test. The results we achieved prove to our customers that StorageNetworks delivers on our promises of security, availability, integrity and maintainability.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is the world`s leading provider of data storage management services, and an innovator of storage management software. Our unique software and services enable enterprises, network service providers, and system integrators to deliver cost effective solutions to store, manage, and protect information on a global basis. StorageNetworks simplifies data storage management and empowers our customers with increased control and optimal utilization of complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos, STORvision and Virtual Storage Portal are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
or
StorageNetworks
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
Bin mal gespannt heute vor Börsenöffnung veröffentlich STOR Q-Zahlen.
EDS Selects StorageNetworks to Provide Enterprise-Wide Data Storage Management Software
StorageNetworks to Deliver Primary and Backup Storage Management Software to EDS in Data Centers Throughout the World
WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 31, 2002-- Signaling the beginning of a new global business relationship, StorageNetworks (Nasdaq:STOR - news) announced today that EDS will use StorageNetworks® STORfusion(SM) program and STORos(SM) software as a management framework for EDS` internal data storage management needs around the globe. StorageNetworks will provide both primary and backup data storage management software to EDS Service Management Centers around the world as EDS continues to enhance the storage framework for managing its vast client requirements. Terms of the agreement were not disclosed.
StorageNetworks` robust software and storage expertise will allow EDS to further consolidate and centrally manage its petabytes of global data storage, while increasing automation of ongoing management tasks. Specifically, StorageNetworks will provide EDS with its STORos operating system and storage management applications that will be uniquely integrated into EDS` enterprise management framework.
The STORos operating system, the industry`s only storage network operating system, integrates and centralizes the management of the distributed and heterogeneous elements of a multi-vendor storage environment. StorageNetworks` management applications provide storage resource and process management that allow EDS and its clients to directly access, control and manage their storage infrastructure in an efficient manner. EDS will use STORos software as a competitive advantage, to support current client needs and EDS` growing storage service offerings. In addition to delivering storage management software, StorageNetworks will work closely with EDS to test and qualify storage technologies in StorageNetworks` STORlabs facility. The collaboration between StorageNetworks and EDS integration experts significantly accelerates the time-to-deploy new storage technologies and enables EDS-selected technologies to be managed under the STORos platform.
``At EDS, we help clients achieve the most from their IT systems. This is why more and more companies are turning to us for hosting and storage services,`` said Terry Milholland, EDS Chief Information and Technology Officer. ``Having a flexible, interoperable storage management system that can be easily integrated into our processes and also supports leading hardware and software storage products is a priority for EDS as we continue to grow our global business. StorageNetworks` technology offers that capability, and will help enable EDS to keep raising the service excellence standard in the industry.``
``EDS is one of the world`s leading global technology services providers, and their decision to work with StorageNetworks is a clear demonstration of confidence in our multi-vendor storage management software,`` said Peter Bell, chairman and CEO of StorageNetworks. ``We look forward to delivering our robust storage management software to EDS and supporting their efforts to drive complexity out of their global storage environment.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management software and services. Our unique software and services enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos and STORfusion are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
StorageNetworks to Deliver Primary and Backup Storage Management Software to EDS in Data Centers Throughout the World
WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 31, 2002-- Signaling the beginning of a new global business relationship, StorageNetworks (Nasdaq:STOR - news) announced today that EDS will use StorageNetworks® STORfusion(SM) program and STORos(SM) software as a management framework for EDS` internal data storage management needs around the globe. StorageNetworks will provide both primary and backup data storage management software to EDS Service Management Centers around the world as EDS continues to enhance the storage framework for managing its vast client requirements. Terms of the agreement were not disclosed.
StorageNetworks` robust software and storage expertise will allow EDS to further consolidate and centrally manage its petabytes of global data storage, while increasing automation of ongoing management tasks. Specifically, StorageNetworks will provide EDS with its STORos operating system and storage management applications that will be uniquely integrated into EDS` enterprise management framework.
The STORos operating system, the industry`s only storage network operating system, integrates and centralizes the management of the distributed and heterogeneous elements of a multi-vendor storage environment. StorageNetworks` management applications provide storage resource and process management that allow EDS and its clients to directly access, control and manage their storage infrastructure in an efficient manner. EDS will use STORos software as a competitive advantage, to support current client needs and EDS` growing storage service offerings. In addition to delivering storage management software, StorageNetworks will work closely with EDS to test and qualify storage technologies in StorageNetworks` STORlabs facility. The collaboration between StorageNetworks and EDS integration experts significantly accelerates the time-to-deploy new storage technologies and enables EDS-selected technologies to be managed under the STORos platform.
``At EDS, we help clients achieve the most from their IT systems. This is why more and more companies are turning to us for hosting and storage services,`` said Terry Milholland, EDS Chief Information and Technology Officer. ``Having a flexible, interoperable storage management system that can be easily integrated into our processes and also supports leading hardware and software storage products is a priority for EDS as we continue to grow our global business. StorageNetworks` technology offers that capability, and will help enable EDS to keep raising the service excellence standard in the industry.``
``EDS is one of the world`s leading global technology services providers, and their decision to work with StorageNetworks is a clear demonstration of confidence in our multi-vendor storage management software,`` said Peter Bell, chairman and CEO of StorageNetworks. ``We look forward to delivering our robust storage management software to EDS and supporting their efforts to drive complexity out of their global storage environment.``
About StorageNetworks
StorageNetworks, Inc. (NASDAQ: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management software and services. Our unique software and services enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos and STORfusion are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
--------------------------------------------------------------------------------
Contact:
StorageNetworks, Inc.
Jackie Price
781/622-6512
jackie.price@storagenetworks.com
or
Erica Smith
781/622-6373
erica.smith@storagenetworks.com
6 Cent Besser als erwartet!!!!!
StorageNetworks Announces Fourth-quarter and Year-end Results
WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 31, 2002--
Revenue In 2001 Grew 156% from Prior Year
Company Signs Strategic Partnership with EDS Company Takes $114.4 Million Impairment Charge To Restructure Balance
Sheet To Focus On Storage Management Software
StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, today announced revenues for the fourth quarter ended December 31, 2001 of $31.6 million, a 49% increase over revenues of $21.2 million in the fourth quarter of 2000 and equal with the third quarter of 2001. StorageNetworks` managed services revenue for the quarter was $30.8 million, a 90% increase over managed service revenues of $16.3 million in the fourth quarter of 2000 and a 4% increase from $29.8 million in the third quarter of 2001. For the year ended December 31, 2001, StorageNetworks reported total revenues of $123.6 million; a 156% increase compared with revenues of $48.2 million for the year ended December 31, 2000.
For the fourth quarter ended December 31, 2001, the company reported a pro forma EBITDA loss (net loss before interest, taxes, depreciation, amortization, non-cash stock compensation, the impairment charge and other related costs described below) of $1.2 million, as compared with an EBITDA loss of $25.6 million in the fourth quarter of 2000 and an EBITDA loss of $11.2 million in the third quarter of 2001. The company also reported a pro forma net loss of $18.5 million, or $0.19 per share compared with a loss of $33.0 million, or $0.36 per share for the fourth quarter of 2000, and a loss of $27.0 million, or $0.28 per share, for the third quarter of 2001.
These pro forma results exclude the asset impairment charge and other related costs of $114.4 million, recorded on December 31, 2001. These charges relate to assets and obligations, including certain storage hardware assets, S-POP(SM) data center floor space, fiber connectivity and related assets associated with providing fully managed primary data storage services principally inside hosting service providers. These charges are described in more detail below. Including the charges in the fourth quarter operating results, StorageNetworks generated an EBITDA loss (net loss before interest, taxes, depreciation, amortization, and non-cash stock compensation) of $115.7 million, an operating loss of $131.4 million and a net loss of $132.9 million, or $1.36 per share.
``2001 was a challenging year for technology companies. I was pleased with our financial performance in 2001 and with our transition to being a provider of world-class data storage software and services to major enterprises and service providers,`` stated Peter Bell, Chairman and Chief Executive Officer of StorageNetworks. ``We improved our pro forma financial performance in terms of gross margins, operating margins, net loss per share and cash flows used for operations in each quarter of 2001. We finished the year counting great companies such as Microsoft, Goldman Sachs, Cisco, Ford Motor Company and others as our customers,`` stated Bell.
``The challenging economic environment continued in the fourth quarter. We believe, however, it was one of the most important quarters in our history in establishing StorageNetworks` future. We entered into new customer and partner relationships and we restructured our balance sheet, both of which will enable our company`s future success,`` stated Bell. ``We have recently signed a long-term strategic STORfusion(SM) deal with EDS for our data storage management software. This relationship, combined with already signed STORfusion partners BellSouth, Fujitsu and Pihana, are evidence that our software is rapidly becoming the storage operating platform that enables service providers and system integrators to deliver storage as a service.``
In addition to selling storage management software and services through the STORfusion offering, StorageNetworks` offerings include STORbackup, a fully managed service around data backup, protection and recovery. New customers in the fourth quarter include American Airlines and USA Networks. The company also expanded its relationship with existing STORbackup customers, such as AON, Microsoft and Cisco. StorageNetworks also provides consulting services around the implementation of networked storage environments and the development of comprehensive disaster recovery solutions. New consulting customers in the fourth quarter included Bank of New York, Lehman Brothers and Hull Trading.
Late in 2000, StorageNetworks recognized the changing dynamics of the market and focused its sales and marketing efforts on selling software and services to large enterprise organizations. In 2001, the company also identified a significant opportunity for its software to become the industry-standard for service providers to manage their storage infrastructure and provide new value-added services to their customers.
``During 2001, demand for services in third-party data centers continued to weaken and we recognized that there was limited demand from enterprise customers for our DataPACS® fully managed primary data storage services,`` stated Paul Flanagan, Executive Vice President and Chief Financial Officer of StorageNetworks. ``As a result, we scaled back the sales and marketing activities for this service in the second half of the year, and focused our energies on continuing to develop and enhance our software and services that enterprise customers and service provider partners were demanding. During the fourth quarter, general economic conditions remained difficult and hosting service providers continued to experience significant challenges. Therefore, on December 31, 2001 we recorded an asset impairment charge and other related costs of $114.4 million related to assets associated with providing fully managed primary data storage services principally inside hosting service providers. The assets associated with these charges no longer match the needs of our enterprise customers, our STORfusion partners or the future direction of our business`` continued Flanagan.
``I am very pleased with the continued strength of our balance sheet,`` continued Flanagan. ``Our days sales outstanding on accounts receivable remains very strong at 47 days and we ended the quarter with $288.9 million in cash and short-term investments. When you consider that we used $27.1 million during the quarter for the early retirement of debt on terms favorable to the company, we, in fact, used only $10.0 million during the quarter to operate the business. This is the fourth straight quarter we have reduced our cash burn rate and is a significant decrease from the $24.3 million used in the previous quarter. We continue to believe that we are completely financed to profitability,`` concluded Flanagan.
``The fourth quarter was a turning point for StorageNetworks. We further positioned ourselves as the large enterprise and IT service provider`s storage software and services company, and we established the right relationships with industry leaders to drive growth in the future. In addition, we believe we have the right capital structure, the right partnerships with industry leaders and the innovative software platform to drive our success in 2002 and beyond,`` concluded Bell.
StorageNetworks also announced today the resignation of Roger Marino from its board of directors. Mr. Marino is resigning from the board to concentrate on projects related to his newly formed production company, Revere Pictures.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management software and services. Our unique software and services enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` software and services to its current and potential customers, potential variations in quarterly revenues and operating results, anticipated renewals for the services, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve and maintain gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended September 31, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks and DataPACS are registered servicemarks and STORfusion and S-POP are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
December 31, December 31,
2000 2001
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 304,861 $ 185,834
Short-term investments 84,767 72,915
Accounts receivable, net 7,886 13,735
Prepaid expenses and other current assets 10,044 9,407
Total current assets 407,558 281,891
Property and equipment, net 135,867 67,074
Restricted cash equivalents 32,133 30,158
Other assets 27,055 5,618
Total assets $ 602,613 384,741
LIABILITIES AND STOCKHOLDERS` EQUITY
CURRENT LIABILITIES:
Accounts payable $ 3,746 $ 3,821
Accrued expenses 23,134 50,259
Deferred revenue 5,938 5,868
Capital lease obligations 36,617 44,063
Total current liabilities 69,435 104,011
Capital lease obligations, less
current portion 94,050 60,512
STOCKHOLDERS` EQUITY:
Common stock 954 978
Treasury stock -- (200)
Additional paid-in capital 601,649 597,938
Deferred stock compensation (13,754) (4,638)
Accumulated other comprehensive income (406) 428
Accumulated deficit (149,315) (374,288)
Total stockholders` equity 439,128 220,218
Total liabilities and
stockholders` equity $ 602,613 $ 384,741
StorageNetworks, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended Year Ended
December 31, December 31,
2000 2001 2000 2001
REVENUES:
Managed storage
services revenues $16,270 $30,841 $30,733 $113,496
Professional
services revenues 4,970 737 17,485 10,129
Total revenues 21,240 31,578 48,218 123,625
COSTS AND EXPENSES:
Cost of managed
storage services
revenues, excluding
deferred stock
compensation
amortization amounts 24,249 28,451 72,961 120,232
Cost of professional
services revenues,
excluding deferred
stock compensation
amortization amounts 3,975 967 18,928 6,982
Sales and marketing,
excluding deferred
stock compensation
amortization amounts 18,481 7,898 53,986 56,695
General and
administrative,
excluding deferred
stock compensation
amortization amounts 5,141 5,761 17,882 24,712
Research and
development, excluding
deferred stock
compensation
amortization amounts 4,175 4,775 11,872 21,964
Amortization of deferred
stock compensation(1) 1,228 648 5,061 3,866
Impairment charge and
other related costs -- 114,449 -- 114,449
Total costs and expenses 57,249 162,949 180,690 348,900
Loss from operations (36,009) (131,371) (132,472) (225,275)
Interest income 5,685 2,200 15,120 15,144
Interest expense (2,716) (3,837) (7,513) (14,682)
Other income (expense) -- 96 -- (160)
Net loss $(33,040) $(132,912) $(124,865) $(224,973)
Net loss per share--
basic and diluted $(0.36) $(1.36) $(2.12) $(2.33)
Weighted average common
shares outstanding 93,038 97,440 58,888 96,698
$(25,591) $(115,683) $(102,983) $(167,250)
EBITDA (2)
(1) Amortization of deferred
stock compensation
Cost of managed storage
services revenues $123 $88 $495 $510
Cost of professional
services revenues 73 40 488 199
Sales and marketing 422 173 1,653 1,118
General and administrative 104 97 579 398
Research and development 506 250 1,846 1,641
$1,228 $648 $5,061 $3,866
Pro forma information (3)
Loss from operations $(16,922) $(110,826)
Net loss (18,463) (110,524)
Net loss per share
- basic and diluted (0.19) (1.14)
EBITDA (1,234) (52,801)
(2) Net loss before interest, taxes, depreciation, amortization and
non-cash stock compensation
(3) Pro forma information excludes the impact of the impairment charge
and other related costs
--------------------------------------------------------------------------------
Contact:
StorageNetworks
Jackie Price, 781/622-6512
jackie.price@storagenetworks.com
or
StorageNetworks
Erica Smith, 781/622-6373
erica.smith@storagenetworks.com
StorageNetworks Announces Fourth-quarter and Year-end Results
WALTHAM, Mass.--(BUSINESS WIRE)--Jan. 31, 2002--
Revenue In 2001 Grew 156% from Prior Year
Company Signs Strategic Partnership with EDS Company Takes $114.4 Million Impairment Charge To Restructure Balance
Sheet To Focus On Storage Management Software
StorageNetworks, Inc. (NASDAQ: STOR - news), the world`s leading provider of data storage management software and services, today announced revenues for the fourth quarter ended December 31, 2001 of $31.6 million, a 49% increase over revenues of $21.2 million in the fourth quarter of 2000 and equal with the third quarter of 2001. StorageNetworks` managed services revenue for the quarter was $30.8 million, a 90% increase over managed service revenues of $16.3 million in the fourth quarter of 2000 and a 4% increase from $29.8 million in the third quarter of 2001. For the year ended December 31, 2001, StorageNetworks reported total revenues of $123.6 million; a 156% increase compared with revenues of $48.2 million for the year ended December 31, 2000.
For the fourth quarter ended December 31, 2001, the company reported a pro forma EBITDA loss (net loss before interest, taxes, depreciation, amortization, non-cash stock compensation, the impairment charge and other related costs described below) of $1.2 million, as compared with an EBITDA loss of $25.6 million in the fourth quarter of 2000 and an EBITDA loss of $11.2 million in the third quarter of 2001. The company also reported a pro forma net loss of $18.5 million, or $0.19 per share compared with a loss of $33.0 million, or $0.36 per share for the fourth quarter of 2000, and a loss of $27.0 million, or $0.28 per share, for the third quarter of 2001.
These pro forma results exclude the asset impairment charge and other related costs of $114.4 million, recorded on December 31, 2001. These charges relate to assets and obligations, including certain storage hardware assets, S-POP(SM) data center floor space, fiber connectivity and related assets associated with providing fully managed primary data storage services principally inside hosting service providers. These charges are described in more detail below. Including the charges in the fourth quarter operating results, StorageNetworks generated an EBITDA loss (net loss before interest, taxes, depreciation, amortization, and non-cash stock compensation) of $115.7 million, an operating loss of $131.4 million and a net loss of $132.9 million, or $1.36 per share.
``2001 was a challenging year for technology companies. I was pleased with our financial performance in 2001 and with our transition to being a provider of world-class data storage software and services to major enterprises and service providers,`` stated Peter Bell, Chairman and Chief Executive Officer of StorageNetworks. ``We improved our pro forma financial performance in terms of gross margins, operating margins, net loss per share and cash flows used for operations in each quarter of 2001. We finished the year counting great companies such as Microsoft, Goldman Sachs, Cisco, Ford Motor Company and others as our customers,`` stated Bell.
``The challenging economic environment continued in the fourth quarter. We believe, however, it was one of the most important quarters in our history in establishing StorageNetworks` future. We entered into new customer and partner relationships and we restructured our balance sheet, both of which will enable our company`s future success,`` stated Bell. ``We have recently signed a long-term strategic STORfusion(SM) deal with EDS for our data storage management software. This relationship, combined with already signed STORfusion partners BellSouth, Fujitsu and Pihana, are evidence that our software is rapidly becoming the storage operating platform that enables service providers and system integrators to deliver storage as a service.``
In addition to selling storage management software and services through the STORfusion offering, StorageNetworks` offerings include STORbackup, a fully managed service around data backup, protection and recovery. New customers in the fourth quarter include American Airlines and USA Networks. The company also expanded its relationship with existing STORbackup customers, such as AON, Microsoft and Cisco. StorageNetworks also provides consulting services around the implementation of networked storage environments and the development of comprehensive disaster recovery solutions. New consulting customers in the fourth quarter included Bank of New York, Lehman Brothers and Hull Trading.
Late in 2000, StorageNetworks recognized the changing dynamics of the market and focused its sales and marketing efforts on selling software and services to large enterprise organizations. In 2001, the company also identified a significant opportunity for its software to become the industry-standard for service providers to manage their storage infrastructure and provide new value-added services to their customers.
``During 2001, demand for services in third-party data centers continued to weaken and we recognized that there was limited demand from enterprise customers for our DataPACS® fully managed primary data storage services,`` stated Paul Flanagan, Executive Vice President and Chief Financial Officer of StorageNetworks. ``As a result, we scaled back the sales and marketing activities for this service in the second half of the year, and focused our energies on continuing to develop and enhance our software and services that enterprise customers and service provider partners were demanding. During the fourth quarter, general economic conditions remained difficult and hosting service providers continued to experience significant challenges. Therefore, on December 31, 2001 we recorded an asset impairment charge and other related costs of $114.4 million related to assets associated with providing fully managed primary data storage services principally inside hosting service providers. The assets associated with these charges no longer match the needs of our enterprise customers, our STORfusion partners or the future direction of our business`` continued Flanagan.
``I am very pleased with the continued strength of our balance sheet,`` continued Flanagan. ``Our days sales outstanding on accounts receivable remains very strong at 47 days and we ended the quarter with $288.9 million in cash and short-term investments. When you consider that we used $27.1 million during the quarter for the early retirement of debt on terms favorable to the company, we, in fact, used only $10.0 million during the quarter to operate the business. This is the fourth straight quarter we have reduced our cash burn rate and is a significant decrease from the $24.3 million used in the previous quarter. We continue to believe that we are completely financed to profitability,`` concluded Flanagan.
``The fourth quarter was a turning point for StorageNetworks. We further positioned ourselves as the large enterprise and IT service provider`s storage software and services company, and we established the right relationships with industry leaders to drive growth in the future. In addition, we believe we have the right capital structure, the right partnerships with industry leaders and the innovative software platform to drive our success in 2002 and beyond,`` concluded Bell.
StorageNetworks also announced today the resignation of Roger Marino from its board of directors. Mr. Marino is resigning from the board to concentrate on projects related to his newly formed production company, Revere Pictures.
About StorageNetworks, Inc.
StorageNetworks, Inc. (NASDAQ: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management software and services. Our unique software and services enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email info@storagenetworks.com, or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are ``forward-looking statements`` (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of StorageNetworks` software and services to its current and potential customers, potential variations in quarterly revenues and operating results, anticipated renewals for the services, competition, the ability to reliably deliver services and to develop new software and technology, and the ability to achieve and maintain gross margin and operating profitability, as detailed from time to time in StorageNetworks` filings with the Securities and Exchange Commission (``SEC``). StorageNetworks draws the reader`s attention to the to the factors described in its Quarterly Report on Form 10-Q for the quarter ended September 31, 2001 under the heading, ``Certain Factors That May Affect Future Operating Results.``
StorageNetworks and DataPACS are registered servicemarks and STORfusion and S-POP are servicemarks of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders.
StorageNetworks, Inc.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(in thousands)
December 31, December 31,
2000 2001
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 304,861 $ 185,834
Short-term investments 84,767 72,915
Accounts receivable, net 7,886 13,735
Prepaid expenses and other current assets 10,044 9,407
Total current assets 407,558 281,891
Property and equipment, net 135,867 67,074
Restricted cash equivalents 32,133 30,158
Other assets 27,055 5,618
Total assets $ 602,613 384,741
LIABILITIES AND STOCKHOLDERS` EQUITY
CURRENT LIABILITIES:
Accounts payable $ 3,746 $ 3,821
Accrued expenses 23,134 50,259
Deferred revenue 5,938 5,868
Capital lease obligations 36,617 44,063
Total current liabilities 69,435 104,011
Capital lease obligations, less
current portion 94,050 60,512
STOCKHOLDERS` EQUITY:
Common stock 954 978
Treasury stock -- (200)
Additional paid-in capital 601,649 597,938
Deferred stock compensation (13,754) (4,638)
Accumulated other comprehensive income (406) 428
Accumulated deficit (149,315) (374,288)
Total stockholders` equity 439,128 220,218
Total liabilities and
stockholders` equity $ 602,613 $ 384,741
StorageNetworks, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in thousands, except per share data)
Three Months Ended Year Ended
December 31, December 31,
2000 2001 2000 2001
REVENUES:
Managed storage
services revenues $16,270 $30,841 $30,733 $113,496
Professional
services revenues 4,970 737 17,485 10,129
Total revenues 21,240 31,578 48,218 123,625
COSTS AND EXPENSES:
Cost of managed
storage services
revenues, excluding
deferred stock
compensation
amortization amounts 24,249 28,451 72,961 120,232
Cost of professional
services revenues,
excluding deferred
stock compensation
amortization amounts 3,975 967 18,928 6,982
Sales and marketing,
excluding deferred
stock compensation
amortization amounts 18,481 7,898 53,986 56,695
General and
administrative,
excluding deferred
stock compensation
amortization amounts 5,141 5,761 17,882 24,712
Research and
development, excluding
deferred stock
compensation
amortization amounts 4,175 4,775 11,872 21,964
Amortization of deferred
stock compensation(1) 1,228 648 5,061 3,866
Impairment charge and
other related costs -- 114,449 -- 114,449
Total costs and expenses 57,249 162,949 180,690 348,900
Loss from operations (36,009) (131,371) (132,472) (225,275)
Interest income 5,685 2,200 15,120 15,144
Interest expense (2,716) (3,837) (7,513) (14,682)
Other income (expense) -- 96 -- (160)
Net loss $(33,040) $(132,912) $(124,865) $(224,973)
Net loss per share--
basic and diluted $(0.36) $(1.36) $(2.12) $(2.33)
Weighted average common
shares outstanding 93,038 97,440 58,888 96,698
$(25,591) $(115,683) $(102,983) $(167,250)
EBITDA (2)
(1) Amortization of deferred
stock compensation
Cost of managed storage
services revenues $123 $88 $495 $510
Cost of professional
services revenues 73 40 488 199
Sales and marketing 422 173 1,653 1,118
General and administrative 104 97 579 398
Research and development 506 250 1,846 1,641
$1,228 $648 $5,061 $3,866
Pro forma information (3)
Loss from operations $(16,922) $(110,826)
Net loss (18,463) (110,524)
Net loss per share
- basic and diluted (0.19) (1.14)
EBITDA (1,234) (52,801)
(2) Net loss before interest, taxes, depreciation, amortization and
non-cash stock compensation
(3) Pro forma information excludes the impact of the impairment charge
and other related costs
--------------------------------------------------------------------------------
Contact:
StorageNetworks
Jackie Price, 781/622-6512
jackie.price@storagenetworks.com
or
StorageNetworks
Erica Smith, 781/622-6373
erica.smith@storagenetworks.com
Zum Verrückt werden, zuvor hatte noch vor bei 4,05 Dollar zu Investieren !!
Verschlafen !!!!!!!!!!!!!
Jetzt schon mittlerweile aktuell ca. 4,80 Dollar.
Pech
Verschlafen !!!!!!!!!!!!!
Jetzt schon mittlerweile aktuell ca. 4,80 Dollar.
Pech
StorageNetworks Expands Multi-Vendor Technology Support
Company`s Interoperability Lab Certifies Two Additional Data Storage Technologies from EMC and Fujitsu
WALTHAM, Mass., March 18 /PRNewswire-FirstCall/ -- StorageNetworks, Inc. (Nasdaq: STOR - news), the world`s leading provider of data storage management software and services, today announced that it has tested and certified two additional technologies through STORlabs, the company`s interoperability lab. The certifications announced today enhance StorageNetworks® multi-vendor technology support in its industry-leading STORos(SM) software.
StorageNetworks` latest technology certifications include support for the Fujitsu GR720 and EMC Clariion IP4700 storage arrays.
Both the Fujitsu GR720 and the EMC Clarion IP4700 were tested in STORlabs, where storage technology experts certify multi-vendor solutions for networked storage environments that are robust, secure, scalable, and cost effective. In addition to the Fujitsu and EMC storage arrays, STORlabs has certified many industry-leading storage technologies, including products from ADIC, Brocade, Cisco, Compaq, Hewlett Packard, Hitachi Data Systems, IBM, Legato, McData, Network Appliance, StorageTek, Sun Microsystems and Veritas. As part of the testing and certification of multi-vendor data storage technology, StorageNetworks provides comprehensive documentation, including detailed Field Inplementation Guides (FIGs), and ongoing support that is an integral part of STORlabs. StorageNetworks` engineers continue to provide valuable data on STORlabs certified technologies throughout their entire lifecycle.
``As we continue to test and certify new technologies and enhance our interoperability expertise, we provide our enterprise customers and service provider partners with the benefits of a multi-vendor networked storage environment, including deploying best of breed and cost effective technologies`` said Tony Scotto, StorageNetworks` Senior Vice President of Product Development. ``In addition, by leveraging STORlabs, our customers and partners eliminate significant hardware investments, improve their time-to- deploy for new technologies and mitigate risks associated with new technology adoption.``
About StorageNetworks
StorageNetworks, Inc. (Nasdaq: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management software and services. Our unique software and services enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email at info@storagenetworks.com or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
Contacts:
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
SOURCE: StorageNetworks, Inc.
Company`s Interoperability Lab Certifies Two Additional Data Storage Technologies from EMC and Fujitsu
WALTHAM, Mass., March 18 /PRNewswire-FirstCall/ -- StorageNetworks, Inc. (Nasdaq: STOR - news), the world`s leading provider of data storage management software and services, today announced that it has tested and certified two additional technologies through STORlabs, the company`s interoperability lab. The certifications announced today enhance StorageNetworks® multi-vendor technology support in its industry-leading STORos(SM) software.
StorageNetworks` latest technology certifications include support for the Fujitsu GR720 and EMC Clariion IP4700 storage arrays.
Both the Fujitsu GR720 and the EMC Clarion IP4700 were tested in STORlabs, where storage technology experts certify multi-vendor solutions for networked storage environments that are robust, secure, scalable, and cost effective. In addition to the Fujitsu and EMC storage arrays, STORlabs has certified many industry-leading storage technologies, including products from ADIC, Brocade, Cisco, Compaq, Hewlett Packard, Hitachi Data Systems, IBM, Legato, McData, Network Appliance, StorageTek, Sun Microsystems and Veritas. As part of the testing and certification of multi-vendor data storage technology, StorageNetworks provides comprehensive documentation, including detailed Field Inplementation Guides (FIGs), and ongoing support that is an integral part of STORlabs. StorageNetworks` engineers continue to provide valuable data on STORlabs certified technologies throughout their entire lifecycle.
``As we continue to test and certify new technologies and enhance our interoperability expertise, we provide our enterprise customers and service provider partners with the benefits of a multi-vendor networked storage environment, including deploying best of breed and cost effective technologies`` said Tony Scotto, StorageNetworks` Senior Vice President of Product Development. ``In addition, by leveraging STORlabs, our customers and partners eliminate significant hardware investments, improve their time-to- deploy for new technologies and mitigate risks associated with new technology adoption.``
About StorageNetworks
StorageNetworks, Inc. (Nasdaq: STOR - news) is delivering the future of data storage today. We are the world`s leading provider of data storage management software and services. Our unique software and services enable enterprises, network service providers, and system integrators to deliver cost-effective solutions to store, manage, and protect information on a global basis. We simplify data storage management and empower our customers and partners with increased control and optimal utilization of their complex storage environments. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Web site at www.storagenetworks.com, email at info@storagenetworks.com or call 1.800.463.7105.
StorageNetworks is a registered servicemark and STORos is a servicemark of StorageNetworks, Inc. All other brand and product names contained in this announcement may be trademarks or registered trademarks of their respective holders.
Contacts:
Jackie Price
Director, Public Relations
781/622-6512
jackie.price@storagenetworks.com
Erica Smith
Director, Investor Relations
781/622-6373
erica.smith@storagenetworks.com
SOURCE: StorageNetworks, Inc.
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Thursday April 18, 7:50 am Eastern Time
Reuters Business
StorageNetworks first-quarter net loss narrows
WALTHAM, Mass., April 18 (Reuters) - StorageNetworks Inc. (NasdaqNM:STOR - news) said on Thursday its first-quarter net loss narrowed as its revenue climbed 17 percent.
The storage software and services provider reported a first-quarter net loss of $5.4 million, or 5 cents per share, compared with a loss of $32.9 million, or 34 cents per share, the previous year.
Earnings before interest, taxes, depreciation, amortization, and noncash stock compensation was $3.8 million, compared with an EBITDA loss of $22.1 million in the first quarter of 2001.
Revenues rose to $31.6 million from $27.1 million in the first quarter of 2001.
Analysts, on average, had expected the company to post a loss of 14 cents a share, according to Thomson Financial/First Call.
Reuters Business
StorageNetworks first-quarter net loss narrows
WALTHAM, Mass., April 18 (Reuters) - StorageNetworks Inc. (NasdaqNM:STOR - news) said on Thursday its first-quarter net loss narrowed as its revenue climbed 17 percent.
The storage software and services provider reported a first-quarter net loss of $5.4 million, or 5 cents per share, compared with a loss of $32.9 million, or 34 cents per share, the previous year.
Earnings before interest, taxes, depreciation, amortization, and noncash stock compensation was $3.8 million, compared with an EBITDA loss of $22.1 million in the first quarter of 2001.
Revenues rose to $31.6 million from $27.1 million in the first quarter of 2001.
Analysts, on average, had expected the company to post a loss of 14 cents a share, according to Thomson Financial/First Call.
StorageNetworks Announces General Availability of STORos v5.0 Software
New Software Customers Include Ford Motor Company
More than 100 Managed Services Customers Realizing Value from Company`s Software
WALTHAM, Mass., July 10 /PRNewswire-FirstCall/ -- StorageNetworks, Inc. (Nasdaq: STOR - News), a leading provider of storage management software and services, today announced the general availability of its STORos(TM) v5.0 platform and its STORos StorageManager v5.0 software. StorageNetworks proven and comprehensive storage management software enables IT organizations to build an enterprise storage utility. The company also announced that Ford Motor Company and TechTarget have signed software license agreements for the STORos platform and the STORos StorageManager application.
"By enabling centralized management of Ford`s storage infrastructure, StorageNetworks` software allows my team to quickly improve the ROI of Ford`s storage investments," stated Al McPhee, Manager of the Storage Enterprise Group at Ford Motor Company. "I now have the ability to quickly pinpoint underutilized assets, to rapidly resolve events, to see what is attached to what, how much storage is available, how much it is costing us, and how to best utilize it, and to get a `health` check of the environment. Because of its comprehensive functionality, StorageManager v5.0 software is the key management tool for my group."
StorageNetworks has deployed the STORos v5.0 platform and STORos StorageManager v5.0 application at more than 100 industry-leading companies including AON, BestBuy, Cisco, Covisint, Merrill Lynch, Microsoft, Sun Microsystems, and Visa. The software, capable of enterprise-class scalability, is currently actively managing 1.5 petabytes of data across a multi-vendor storage infrastructure.
The software enables customers to manage their storage environments in a highly efficient manner to drive significant returns on their storage assets. Key functionality includes policy-based asset management, organizational hierarchies, service level agreement (SLA) management and process management capabilities such as provisioning and charge-back. By using the company`s software, StorageNetworks` customers collectively achieve greater than 99.99% availability and 99% backup success rates within window.
StorageNetworks also announced that it has successfully completed a beta program for the STORos v5.0 platform and STORos StorageManager v5.0 application with several enterprise companies including a large technology company and a multi-national telecommunications company, across storage area networks (SAN), network-attached storage (NAS), direct attached storage (DAS), and backup environments.
"The combination of important new customer wins at Ford Motor Company and TechTarget, our strong relationships with existing customers, the successful completion of our beta program, and the achievement of internal milestones like the general availability of our software is more evidence of the value that our software can bring to enterprise customers," stated Peter Bell, Chairman and Chief Executive Officer of StorageNetworks.
About StorageNetworks
StorageNetworks, Inc. (Nasdaq: STOR - News) is a leading provider of storage management software and services to enable the enterprise storage utility. StorageNetworks robust software, combined with the company`s proven process methodologies and interoperability expertise, enable enterprises, network service providers, and system integrators to manage their storage environments with increased levels of utilization, availability and recoverability. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Website at http://www.StorageNetworks.com, email at info@StorageNetworks.com or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are "forward-looking statements" (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of our software and services to our current and potential customers, the ability to productize and sell our software, likely variations in our financial results, demand for our software and services, the ability to attract and retain customers, competition, the ability to build successful sales channels, the ability to deliver our software and services reliably, the ability to expand our software and service offerings, the ability to upgrade our software offerings and the ability to achieve overall profitability, as detailed from time to time in our filings with the Securities and Exchange Commission ("SEC"). We draw the reader`s attention to the to the factors described in our Quarterly on Form 10-Q for the quarter ended March 31, 2002 under the heading, "Certain Factors That May Affect Future Operating Results."
StorageNetworks is a registered trademark and STORos is a trademark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders
Contacts:
Erica Smith Dawn Ringel
Director, Investor and Public Relations Warner Communications
781-622-6373 781-449-8456
erica.smith@StorageNetworks.com dawn@warnerpr.com
SOURCE: StorageNetworks, Inc.
New Software Customers Include Ford Motor Company
More than 100 Managed Services Customers Realizing Value from Company`s Software
WALTHAM, Mass., July 10 /PRNewswire-FirstCall/ -- StorageNetworks, Inc. (Nasdaq: STOR - News), a leading provider of storage management software and services, today announced the general availability of its STORos(TM) v5.0 platform and its STORos StorageManager v5.0 software. StorageNetworks proven and comprehensive storage management software enables IT organizations to build an enterprise storage utility. The company also announced that Ford Motor Company and TechTarget have signed software license agreements for the STORos platform and the STORos StorageManager application.
"By enabling centralized management of Ford`s storage infrastructure, StorageNetworks` software allows my team to quickly improve the ROI of Ford`s storage investments," stated Al McPhee, Manager of the Storage Enterprise Group at Ford Motor Company. "I now have the ability to quickly pinpoint underutilized assets, to rapidly resolve events, to see what is attached to what, how much storage is available, how much it is costing us, and how to best utilize it, and to get a `health` check of the environment. Because of its comprehensive functionality, StorageManager v5.0 software is the key management tool for my group."
StorageNetworks has deployed the STORos v5.0 platform and STORos StorageManager v5.0 application at more than 100 industry-leading companies including AON, BestBuy, Cisco, Covisint, Merrill Lynch, Microsoft, Sun Microsystems, and Visa. The software, capable of enterprise-class scalability, is currently actively managing 1.5 petabytes of data across a multi-vendor storage infrastructure.
The software enables customers to manage their storage environments in a highly efficient manner to drive significant returns on their storage assets. Key functionality includes policy-based asset management, organizational hierarchies, service level agreement (SLA) management and process management capabilities such as provisioning and charge-back. By using the company`s software, StorageNetworks` customers collectively achieve greater than 99.99% availability and 99% backup success rates within window.
StorageNetworks also announced that it has successfully completed a beta program for the STORos v5.0 platform and STORos StorageManager v5.0 application with several enterprise companies including a large technology company and a multi-national telecommunications company, across storage area networks (SAN), network-attached storage (NAS), direct attached storage (DAS), and backup environments.
"The combination of important new customer wins at Ford Motor Company and TechTarget, our strong relationships with existing customers, the successful completion of our beta program, and the achievement of internal milestones like the general availability of our software is more evidence of the value that our software can bring to enterprise customers," stated Peter Bell, Chairman and Chief Executive Officer of StorageNetworks.
About StorageNetworks
StorageNetworks, Inc. (Nasdaq: STOR - News) is a leading provider of storage management software and services to enable the enterprise storage utility. StorageNetworks robust software, combined with the company`s proven process methodologies and interoperability expertise, enable enterprises, network service providers, and system integrators to manage their storage environments with increased levels of utilization, availability and recoverability. StorageNetworks, headquartered in Waltham, Massachusetts, has offices worldwide. For more information, visit the company`s Website at http://www.StorageNetworks.com, email at info@StorageNetworks.com or call 1.800.463.7105.
Safe Harbor
Except for the historical information contained in this announcement, the statements in this announcement, including those relating to future financial performance, are "forward-looking statements" (as that term is used in the Private Securities Litigation Reform Act of 1995) that are subject to risks and uncertainties including the risks relating to the attractiveness of our software and services to our current and potential customers, the ability to productize and sell our software, likely variations in our financial results, demand for our software and services, the ability to attract and retain customers, competition, the ability to build successful sales channels, the ability to deliver our software and services reliably, the ability to expand our software and service offerings, the ability to upgrade our software offerings and the ability to achieve overall profitability, as detailed from time to time in our filings with the Securities and Exchange Commission ("SEC"). We draw the reader`s attention to the to the factors described in our Quarterly on Form 10-Q for the quarter ended March 31, 2002 under the heading, "Certain Factors That May Affect Future Operating Results."
StorageNetworks is a registered trademark and STORos is a trademark of StorageNetworks, Inc. All other brand and product names contained in this release may be trademarks or registered trademarks of their respective holders
Contacts:
Erica Smith Dawn Ringel
Director, Investor and Public Relations Warner Communications
781-622-6373 781-449-8456
erica.smith@StorageNetworks.com dawn@warnerpr.com
SOURCE: StorageNetworks, Inc.
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