M-Systems Leaders in Data Storage

6/17/2002 - M-Systems (Nasdaq: FLSH), a leader in flash disk data storage products, today announced that, based on current bookings and billings to date, sales for the second quarter ended June 30, 2002 are expected to reach at least $14 million. The Company attributed the higher than anticipated increase in sales mainly to the success of its DiskOnKey product. Dov Moran, president of M-Systems, said, "During our first quarter conference call we indicated that we anticipated sequential revenue growth of 10 percent in the second quarter. Sales of DiskOnKey have surpassed our expectations allowing us to raise our revenue guidance for the quarter." M-Systems reported revenues of $11.4 million for the first quarter ended March 31, 2002. The Company said that more specific information and guidance will be provided in conjunction with its second quarter earnings release and conference call to be held on July 22.

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