Dot Hill Receives Funding from Major Customer

10/31/2002 - Dot Hill announced it has received a short-term loan from Sun Microsystems for $4.5 million. The funds will be used primarily for working capital in order to ramp production associated with Dot Hillís new OEM agreement with Sun, and for general corporate purposes.

"We are extremely pleased with the demonstration of commitment from Sun and their vote of confidence regarding our relationship," said Jim Lambert, Dot Hill chief executive officer. "In addition, we recently received a $19 million purchase order from Sun. This increases our current total backlog to over $44 million - the highest level in Dot Hillís history. We anticipate shipping the backlog by the end of March 2003."

Dot Hill is a leading independent provider of storage networking solutions. Its SANnet® product line includes storage area networks, MIL-STD-810F and NEBS Level 3 certified systems. The Axis Storage ManagerTM family of products enables companies to enhance their existing IT infrastructures without replacing them regardless of what storage is used. Dot Hill's customers include many of the worldís leading Internet service providers, telecommunications companies, and government agencies. Dot Hill is an ISO 9002 certified company.

Dot Hill, the Dot Hill logo, Axis Storage Manager, and SANnet are trademarks of Dot Hill Systems Corp.

Previous Page | News by Category | News Search

If you found this page useful, bookmark and share it on: