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Santa Ana-based Procom Technology Inc. has had a rough year, but is poised to end 1999 on a high note.
The computer hardware manufacturer has been forced to write-off millions for an acquisition last year and has seen its outside auditors abruptly quit. When company officials announced this spring that they expected losses to continue through next month, Procom shares reached an all-time low of $4.06.
But the shares, while still well below the 52-- week high of $13, were trading around $7.75 last week. And the company feels its longterm strategy is sound.
In fact, Procom is so bullish on the future that it is planning to build a new headquarters.
Procom has purchased eight acres at Discovery Street and Waterworks in the Irvine Spectrum for a two-story building that is expected to cost more than $15 million to complete.
"We're going through a transition at this point," said Nick Shahrestany, Procom's executive vice president. "(But) we're moving to a new class and generation of products."
Founded by Shahrestany and three other former UCI students in 1987, the company has grown to more than...