Datalink Announces CFO Transition; Adds Former CNT Finance Executive to Board of Directors.MINNEAPOLIS -- Datalink Corporation Datalink Corporation (NASDAQ: DTLK) is an American data storage corporation with operations throughout the United States. The company engages in the design, installation, and support of data storage infrastructures that store, protect, and provide continuous access to (Nasdaq:DTLK), a leading independent information storage architect, announced today that Dan Kinsella, vice president - finance and chief financial officer, is leaving Datalink for a finance and operations position with a privately held technology start-up in the Twin Cities area. During the transition period, Denise Westenfield, the company's corporate controller, will serve as Datalink's acting CFO See Chief Financial Officer. , until a replacement is selected. Kinsella commented, "Returning to a company in start-up mode is the right thing for me at this stage of my career. It is difficult to leave a company with as much potential as Datalink. However, I know that this move comes at a time when the company is financially and operationally strong." Charlie Westling, Datalink president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated, "Dan joined Datalink when it was privately held and led the company through its initial public offering. Then his financial stewardship guided us through the technology downturn. I would like to thank Dan for nearly seven years of service to our organization. I also want to thank Dan for building a finance team with depth, which makes this change easier for the organization. Dan will assist Denise and me during the transition, including helping to complete the 2005 year-end financial wrap up and audit." Westling said Datalink has begun the search for Kinsella's replacement. Westling also commented that the company continues to expect a strong fourth quarter with revenues and earnings per share increases over the year-earlier period. Datalink also announced that Gregory T. Barnum has joined the company's board of directors. Barnum was chief financial officer and corporate secretary of Computer Network Technology (CNT (Carbon NanoTube) See nanotube. ), a storage hardware manufacturer and solutions provider, from 1997 until the company's recent acquisition by McData. Barnum's prior industry experience also includes serving as CFO of Tricord Systems, an enterprise server manufacturer, and as executive vice president and CFO of Cray Computer The Colorado Springs-based supercomputer company founded in 1989 by Seymour Cray after he left Cray Research. Cray developed the Cray-3, an incredibly fast gallium arsenide-based computer that ran at a 1 GHz clock rate. Corp., a supercomputer supercomputer, a state-of-the-art, extremely powerful computer capable of manipulating massive amounts of data in a relatively short time. Supercomputers are very expensive and are employed for specialized scientific and engineering applications that must handle very company. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Greg Meland, chair of Datalink's board, "We are pleased to have someone with Greg Barnum's financial and industry depth join Datalink's board of directors. The other board members and I look forward to working with him." With Barnum and Westling, the Datalink board now is comprised of seven members. Datalink Corporation is an information storage architect. The company analyzes, designs, implements, and supports information storage infrastructures that store, protect, and provide continuous access to information. Datalink's specialized capabilities and solutions span storage area networks, network-attached storage See NAS. , direct-attached storage Direct-attached storage (DAS) refers to a digital storage system directly attached to a server or workstation, without a storage network in between. It is a retronym, mainly used to differentiate non-networked storage from SAN and NAS. , and IP-based storage, using industry-leading hardware, software, and technical services. The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . This press release contains forward-looking statements, including as to our projected results for the fourth quarter of 2005. These forward-looking statements are subject to certain risks and uncertainties, including those identified below, which could cause actual results to differ materially from historical results or those anticipated. The words "aim," "believe," "expect," "anticipate," "intend," "estimate" and other expressions which indicate future events and trends identify forward-looking statements. Actual future results and trends may differ materially from historical results or those anticipated depending upon a variety of factors, including, but not limited to: the level of continuing demand for storage, including the effects of economic conditions; competition and pricing pressures and timing of our installations that may adversely affect our revenues and profits; fixed employment costs that may impact profitability if we suffer revenue shortfalls; revenue recognition policies that may unpredictably defer reporting of our revenues; our ability to hire and retain key technical and sales personnel; our dependence on key suppliers; our ability to adapt to rapid technological change; risks associated with possible future acquisitions; fluctuations in our quarterly operating results; future changes in applicable accounting rules; and volatility in our stock price. Further, our revenues for any particular quarter are not necessarily reflected by our backlog of contracted orders, which also may fluctuate unpredictably. |
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