I wonder if Read-Rite's warning yesterday is carrying over. I see that Nanometrics is
down big today as well. Yesterday's Read-Rite warning was:
Tuesday March 23, 5:59 pm Eastern Time
Company Press Release
SOURCE: Read-Rite Corporation
Read-Rite Expects Loss for Second Quarter Fiscal
Year 1999
MILPITAS, Calif., March 23 /PRNewswire/ -- Read-Rite Corporation (Nasdaq: RDRT - news) today announced it expects
sales for the second quarter ending March 31, 1999 to be approximately 10% below the $230.2 million reported for the first
quarter ended December 31, 1998, and the company will report a loss for the second quarter. Read-Rite Corporation will
release results for the quarter at the close of market on April 14, 1999, and will have further comments at that time.
Read-Rite Corporation is one of the world's leading independent manufacturers of MR recording heads, head gimbal
assemblies (HGAs) and head stack assemblies (HSAs) for disk drives and magnetoresistive heads for tape drives. The
company is headquartered in Milpitas, California and has operations in Japan, Thailand, the Philippines and Singapore. The
company's home page on the World Wide Web can be reached at readrite.com.
Down two pints today. Need a transfusion. I sold 2-3rds my holding near the high. Obviously should have sold it all.
Geoff |
