Storage Technology's net income increases

Storage Technology (Louisville, CO, http://www.stortek.com

, NYSE: STK) reports Q1 '97 revenue of $438.6 million that compares with $453.5 million for Q1 '96. Net income of $39.6 million compares with Q1 '96 results of $25.6 million, which excludes a one-time gain. During the quarter, the company repurchased 424,500 shares for approximately $17.6 million.