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Technology Stocks : Seagate Technology
STX 296.36+1.5%Dec 19 4:00 PM EST
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To: Joe E. who wrote (4567)1/20/1998 11:42:00 PM
From: DJBEINO  Read Replies (3) of 7841
 
Is Seagate Technology really the horror show that Wall Street seems to think it is? Maybe not, but you'd never know it from what investors heard Tuesday. What they heard were the latest nightmare earnings numbers from the company that dominates the world market for computer disk drives.

But a closer look at the reported losses reveals that the bulk of the charges come by way of various restructuring write-offs as well as the settlement of a long-standing legal dispute over some allegedly defective disk drives. It was a kind of big-bath quarter, in which the company just dumps the bad news out for all to see in an effort to wipe the slate clean and start anew. Take those charges out of the picture, and Seagate's quarterly losses shrink to 8 cents a share from continuing operations, bad, to be sure, but not catastrophic.

msnbc.com
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