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Technology Stocks : Advanced Digital Information Corp. (ADIC)
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To: Jim Oravetz who wrote (2181)3/21/2001 12:37:19 PM
From: Jim Oravetz  Read Replies (1) of 2283
 
Advanced Digital Says 40% 2001 Rev Growth On Target
Dow Jones Newswires

REDMOND, Wash. -- Advanced Digital Information Corp. (ADIC) continues to see 40% revenue growth for fiscal 2001 but said the economic environment could frustrate second quarter objectives and pose problems for the rest of the year.

A Thomson Financial/First Call consensus of five analysts produced a mean revenue estimate of $376.66 million for Advanced Digital's 2001 fiscal year.

In a press release Wednesday, the company said it may be growing faster than underlying economic trends suggest because of new products, investment paybacks and expanding original equipment manufacturer sales channels. Sales and bookings for the quarter ending April 30 are on target.

If the projection holds, Advanced Digital could see revenue of about $379.3 million for the year ending Oct. 31, based on the $270.9 million in revenue reported in fiscal 2000.

The company, which is expanding its sales resources, said large libraries and European businesses continue to perform at expected levels, but two-tier distribution businesses in the U.S. are behind expectations.

Advanced Digital provides software, automated tape storage libraries and storage area networking products for workstations and personal computer networks.

Company Web site: adic.com
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