Fiorina resigns as HP CEO
Hewlett-Packard Co.'s (HP) board announced that Carly Fiorina has stepped down as chairman and chief executive, effective immediately. The company said that the reason for her departure was strategic disagreements.
Robert P. Wayman, HP's chief financial officer (CFO), has been named interim CEO and appointed to the board. He will also retain his CFO responsibilities. Patricia C. Dunn, an HP director since 1998, has been named nonexecutive chairman, also effective immediately, the company said.
HP faces many challenges as Fiorina departs. The PC unit has been losing market share to Dell Inc., and the corporate-computing unit, which includes storage, software and server-computers, has remained weak amid competition from IBM and EMC, among others. One of the few bright spots has been the company's printing-and-imaging division, which generates more than three-quarters of HP's profits.
The board will begin a search for a new CEO immediately. HP said it doesn't expect to make any additional structural changes or executive leadership changes at this time.
FalconStor reaches profitability
FalconStor Software Inc. reported Q4, 2004 results and announced that it has reached profitability for the first time. Net income for Q4 of 2004 was $0.3 million on revenues of $9.5 million. This compared with a net loss for Q4 of 2003 of $2.2 million. Revenues for the quarter increased 87% to $9.5 million, compared with $5.1 million for the same period a year ago. Sequentially, revenue was up 27%, increasing from $7.5 million to $9.5 million.
Cisco sees surge in storage numbers
Cisco Systems reported improving numbers for its networking storage sector -- to date still a very small market for the company. Year-over-year storage revenue surged more than 70%. A.G. Edwards & Sons Inc. reports that Cisco's storage revenue totaled more than $60 million in the January 2005 quarter. The company's routing and switching markets were also strong, posting year-over-year order growth of 10% to 15%.
Crossroads unveils backup appliance
Crossroads Systems Inc., a provider of storage networking products, announced the DataMover 240f appliance that has advanced features that support automation of storage management and monitoring of hosts, drives and media. The DataMover 240f will work with leading data protection applications for Fibre Channel SANs.
FilesAnywhere.com adds storage
Web backup company FilesAnywhere.com has added 10 times the storage capacity to its offerings at no extra cost. Benefits extend to individual, backup, workgroup and private site accounts. Users now get a 2 GB remote backup account for $8.95 per month and the 5 GB storage plan for $11.95 per month.