Encore Reports Second Quarter Financial Results.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--Aug. 13, 1997-- Closing of Sun Agreement Targeted for Late Sept. Encore Computer Encore Computer was an early pioneer in the parallel computing market based in Marlborough, Massachusetts. They offered a number of designs starting in 1985, they were never as well known as the other pioneers of this field, namely Pyramid, Alliant and Sequent. Corp. Wednesday reported a net loss in the second quarter, which ended June 29, 1997, of $27,066,000 ($.60 per share) on revenues of $7,354,000 compared to revenues of $11,599,000 and a net loss of $19,754,000 ($.45 per share) for the prior year's fiscal quarter ended June 30, 1996. Kenneth G. Fisher, chairman 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. of Encore Computer Corp., stated that: "Encore signed a definitive agreement on July 17, 1997 with Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. Inc. for the sale of the assets of Encore's Storage Products Business. The company is now in the closing phase of that agreement and management energies are directed toward accomplishing closing by late Sept. Closing is contingent upon Adj. 1. contingent upon - determined by conditions or circumstances that follow; "arms sales contingent on the approval of congress" contingent on, dependant on, dependant upon, dependent on, dependent upon, depending on, contingent various closing conditions being met. Encore is in the process of restructuring and defining the direction of the company. This information along with detailed financial information will be outlined in a new proxy to be mailed to shareholders after S.E.C. approval. Encore's financial and business information will be discussed at the upcoming Annual Shareholders Meeting. The date of the meeting will be announced in the proxy." Encore Computer Corp., a worldwide company headquartered in Fort Lauderdale, is the world's leading innovator in scalable real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. storage, data retrieval, and data sharing The ability to share the same data resource with multiple applications or users. It implies that the data are stored in one or more servers in the network and that there is some software locking mechanism that prevents the same set of data from being changed by two people at the same time. technologies for mixed platform processing environments. Encore continues its 36-year tradition of market leadership in providing real-time deterministic systems for time-critical applications. For more information on Encore, access the World Wide Web at http://www.encore.com . -0- NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.encore.com . These symbols may not appear properly in some systems. CONTACT: Encore Computer Corp., Fort Lauderdale Charles S. Anderson, 954/797-5605 |
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