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Technology Stocks : Adaptec (ADPT)

ADPT 18.60

+13.9%

1:38 PM EST

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To: Jan Crawley who wrote (916)	1/21/1998 2:42:00 PM
From: Jim Switz	Read Replies (2) of 5944

RESEARCH ALERT - Adaptec (ADPT.O) buy reiterated SAN FRANCISCO, Jan 21 (Reuters) - PaineWebber analyst John Lazlo on Wednesday reiterated a buy rating on Adaptec Inc after the company's third quarter results were better than what the company pre-announced earlier this month. -- Lazlo said Adaptec's results were slightly better than its previous guidance, with revenues of $254 million just above those of a year earlier; operating earnings of $0.38 a share topped the consensus estimate of $0.36. -- Lazlo upped his fourth quarter earnings estimate to $0.40 a share from $0.36, and raised fiscal 1998 estimate to $1.82 based on expectations for a slightly improved fourth quarter. -- Lazlo cut his fiscal 1999 estimate to $1.80 a share from $2.85, citing lack of near-term visibility and current industry conditions. -- Adaptec shares were up 1-1/2 at 23-15/16. ((San Francisco Bureau, 415/677-2542)) REUTERS

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