Another shoe drops... Read-Rite Expects Lower Sales and Greater Loss than Analysts' Expectations for the Second Quarter of Fiscal 1998
MILPITAS, Calif., March 4 /PRNewswire/ -- Read-Rite Corporation (Nasdaq: RDRT) today announced that it expects to report lower sales and a greater loss than current analysts' expectations for the second quarter of fiscal 1998 ending March 29. Read-Rite said it would have further comments when it reports its second quarter of fiscal 1998 results on Wednesday, April 15, 1998, after the close of the market.
Read-Rite Corporation is one of the world's leading manufacturers of recording heads, head gimbal assemblies (HGAs) and head stack assemblies (HSAs) for disk drives and magnetoresistive heads for quarter-inch-cartridge tape drives. The company is headquartered in Milpitas, California and has operations in Japan, Thailand, Malaysia, the Philippines and Singapore. The company's home page on the World Wide Web can be reached at www.readrite.com.
This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and are subject to the "safe harbor" created by those sections. The company's actual results could differ materially from those anticipated in these forward-looking statements. Factors that could cause actual results to differ include, but are not limited to: the current unfavorable industry environment which could continue longer than expected or worsen, further reductions in orders could occur; and the other factors described in the company's reports filed with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K for Fiscal 1997 and Quarterly Report on Form 10-Q for the First Quarter of Fiscal 1998 ended December 29, 1997. Read-Rite undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements.
SOURCE Read-Rite Corporation
Do you get the feeling like this sector is going down to test lows again?
Regards,
Mark |
