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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (9753)	1/4/2001 8:45:25 AM
From: Bocor	Read Replies (1) of 30051

Read-Rite Earnings and Revenue Surpass Estimates for First Quarter; Company Announces Return to Profitability as Revenues Grow 30% From the Prior Quarter FREMONT, Calif., Jan. 4 /PRNewswire/ -- Read-Rite Corporation (Nasdaq: RDRT - news) today announced that the company will be releasing greater than expected earnings and revenues for the first quarter of fiscal 2001. The company recorded a 30% increase in revenues to over $189 million from $145.9 million in the September quarter. Alan S. Lowe, president and chief executive officer, stated that ``the company will return to profitability this quarter and will exceed industry estimates regarding earnings per share. We are excited by this financial performance and we are hopeful it will continue as the company strives to gain additional market share during the coming year.''

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