Exabyte Corporation Retains Nasdaq Listing

Apr 27, 2001, 01:00 ET from Exabyte Corporation

    BOULDER, Colo., April 27 /PRNewswire/ -- Exabyte Corporation
 (Nasdaq:   EXBT), a performance leader in network backup systems, announced
 today that the Company has filed its Form 10-K for fiscal 2000.  Nasdaq
 confirmed that the Company meets all listing requirements.  The Company's
 trading symbol will return to the original EXBT as of Monday, April 30, 2001.
 The Company previously announced that it had received a notice of potential
 delisting for failure to timely file the Form 10-K.  With this filing, the
 Company is no longer a candidate for delisting as a result of any filing
 delinquency.
     As previously reported, the Company delayed its filing of Form 10-K for
 fiscal 2000 to permit it time to review and respond to comments received from
 the SEC Staff on prior reports incorporated into an S-3 Registration
 Statement.  The Company had been engaged in continuing discussions with SEC
 Staff concerning these comments, including certain comments related to the
 timing of the Company's write-off of deferred tax assets.  The Company's
 previously reported preliminary results for the fiscal year 2000 included the
 write-off of this asset during the fourth quarter.
     The Company, in response to the SEC Staff comments, has written-off the
 deferred tax asset in the second quarter of 1999 rather than in the fourth
 quarter of 2000.  The results for the fourth quarter of 2000 therefore will
 not reflect the special charge of $35,203,000 for the deferred tax write-off
 as previously reported.  As a result, the fourth quarter net loss will be
 improved from a loss of $43,366,000 to a loss of $6,746,000.  The
 corresponding special charge will now be reflected in the Company's results
 for the second quarter of 1999.  The Company has filed an amended Form 10-K
 for fiscal year 1999 to reflect this corresponding charge.  In addition, the
 Company has filed, or will shortly file, amended conforming quarterly Forms
 10-Q for the affected quarters.
     Commented Steve Smith, Exabyte's vice president and chief financial
 officer and general counsel, "The timing of this net operating loss write-off
 has absolutely no effect on the Company's pretax financial results for any
 period.  It has no effect on the Company's balance sheet as of the end of
 fiscal 2000 or first quarter 2001.  As a non-cash charge, it also has no
 effect on the Company's cash position."
 
     About Exabyte Corporation
     Exabyte Corporation is a leading supplier of tape storage devices and
 network storage solutions for the data intensive application and database
 server markets.  Exabyte engineers, manufactures and markets 8mm and
 MammothTape(TM) technology tape drives, premier storage media and libraries
 for MammothTape, DLTtape(TM) and LTO(TM) (Ultrium) tape technologies.
 NetStorM(TM), Exabyte's network storage initiative, is designed to optimize
 the performance capabilities of Exabyte's drives, autoloaders and libraries
 with other vendors' SAN offerings.  The Company's products are available
 exclusively through an extensive network of OEM, distributor and reseller
 business partners worldwide, all backed by the Company's award-winning service
 and support.
     For additional information about Exabyte and for sales, call
 1-800-EXABYTE. For support and customer service, call 1-800-445-7736.  Please
 call (+65)-271-6331 for Asia/Pacific and (+31)-30-2548800 for European
 inquiries.  To have investor information faxed, call 201-946-0091, or download
 information from the investor relations' room on the Company's Web site.  For
 investor-related questions, please call 1-866-EXABYTE, or e-mail
 investor@exabyte.com.  Visit Exabyte on the World Wide Web at www.exabyte.com.
 
     The foregoing contains forward-looking statements related to the company's
 business prospects.  Such statements are subject to one or more risks.  The
 actual results that the company achieves may differ materially from such
 forward-looking statements due to risks and uncertainties related to customer
 dependence, competition, product development, market demand, management of
 business and product transitions and other such risks as noted in the
 company's 1999 Form 10-K.  Please refer to the company's publicly available
 reports on file with the SEC for a description of such risks.  Exabyte
 undertakes no obligation to publicly update or revise any forward-looking
 statements, whether as a result of new information, future events or
 otherwise.
 
     EDITOR'S NOTES Exabyte is a registered trademark, and M2, MammothTape,
 SmartClean and NetStorM are trademarks of Exabyte Corp.  LTO and Ultrium are
 US trademarks of HP, IBM and Seagate.  DLTtape is a trademark of Quantum Corp.
 All other trademarks are the property of their respective owners.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X43613224
 
 

SOURCE Exabyte Corporation
    BOULDER, Colo., April 27 /PRNewswire/ -- Exabyte Corporation
 (Nasdaq:   EXBT), a performance leader in network backup systems, announced
 today that the Company has filed its Form 10-K for fiscal 2000.  Nasdaq
 confirmed that the Company meets all listing requirements.  The Company's
 trading symbol will return to the original EXBT as of Monday, April 30, 2001.
 The Company previously announced that it had received a notice of potential
 delisting for failure to timely file the Form 10-K.  With this filing, the
 Company is no longer a candidate for delisting as a result of any filing
 delinquency.
     As previously reported, the Company delayed its filing of Form 10-K for
 fiscal 2000 to permit it time to review and respond to comments received from
 the SEC Staff on prior reports incorporated into an S-3 Registration
 Statement.  The Company had been engaged in continuing discussions with SEC
 Staff concerning these comments, including certain comments related to the
 timing of the Company's write-off of deferred tax assets.  The Company's
 previously reported preliminary results for the fiscal year 2000 included the
 write-off of this asset during the fourth quarter.
     The Company, in response to the SEC Staff comments, has written-off the
 deferred tax asset in the second quarter of 1999 rather than in the fourth
 quarter of 2000.  The results for the fourth quarter of 2000 therefore will
 not reflect the special charge of $35,203,000 for the deferred tax write-off
 as previously reported.  As a result, the fourth quarter net loss will be
 improved from a loss of $43,366,000 to a loss of $6,746,000.  The
 corresponding special charge will now be reflected in the Company's results
 for the second quarter of 1999.  The Company has filed an amended Form 10-K
 for fiscal year 1999 to reflect this corresponding charge.  In addition, the
 Company has filed, or will shortly file, amended conforming quarterly Forms
 10-Q for the affected quarters.
     Commented Steve Smith, Exabyte's vice president and chief financial
 officer and general counsel, "The timing of this net operating loss write-off
 has absolutely no effect on the Company's pretax financial results for any
 period.  It has no effect on the Company's balance sheet as of the end of
 fiscal 2000 or first quarter 2001.  As a non-cash charge, it also has no
 effect on the Company's cash position."
 
     About Exabyte Corporation
     Exabyte Corporation is a leading supplier of tape storage devices and
 network storage solutions for the data intensive application and database
 server markets.  Exabyte engineers, manufactures and markets 8mm and
 MammothTape(TM) technology tape drives, premier storage media and libraries
 for MammothTape, DLTtape(TM) and LTO(TM) (Ultrium) tape technologies.
 NetStorM(TM), Exabyte's network storage initiative, is designed to optimize
 the performance capabilities of Exabyte's drives, autoloaders and libraries
 with other vendors' SAN offerings.  The Company's products are available
 exclusively through an extensive network of OEM, distributor and reseller
 business partners worldwide, all backed by the Company's award-winning service
 and support.
     For additional information about Exabyte and for sales, call
 1-800-EXABYTE. For support and customer service, call 1-800-445-7736.  Please
 call (+65)-271-6331 for Asia/Pacific and (+31)-30-2548800 for European
 inquiries.  To have investor information faxed, call 201-946-0091, or download
 information from the investor relations' room on the Company's Web site.  For
 investor-related questions, please call 1-866-EXABYTE, or e-mail
 investor@exabyte.com.  Visit Exabyte on the World Wide Web at www.exabyte.com.
 
     The foregoing contains forward-looking statements related to the company's
 business prospects.  Such statements are subject to one or more risks.  The
 actual results that the company achieves may differ materially from such
 forward-looking statements due to risks and uncertainties related to customer
 dependence, competition, product development, market demand, management of
 business and product transitions and other such risks as noted in the
 company's 1999 Form 10-K.  Please refer to the company's publicly available
 reports on file with the SEC for a description of such risks.  Exabyte
 undertakes no obligation to publicly update or revise any forward-looking
 statements, whether as a result of new information, future events or
 otherwise.
 
     EDITOR'S NOTES Exabyte is a registered trademark, and M2, MammothTape,
 SmartClean and NetStorM are trademarks of Exabyte Corp.  LTO and Ultrium are
 US trademarks of HP, IBM and Seagate.  DLTtape is a trademark of Quantum Corp.
 All other trademarks are the property of their respective owners.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X43613224
 
 SOURCE  Exabyte Corporation

RELATED LINKS

http://www.exabyte.com