Adaptec (ADPT) Message Board

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Technology Stocks : Adaptec (ADPT)

ADPT 17.10

-8.5%

Dec 3 3:59 PM EST

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To: Starowl who wrote (1613)	4/7/1998 8:33:00 PM
From: The Philosopher	Read Replies (2) of 5944

Another First Call downward earnings revision only 4 days after the last revision. The pattern now goes: 3/26/98 estimates: FY 1998 1.73, FY 1999 1.77 4/02/98 revision: FY 1998 1.72, FY 1999 1.73 4/06/98 revision: FY 1998 1.71, FY 1999 1.70 So with actual FY 1997 earnings of 1.72, First Call is now projecting __lower__ earnings for both FY 98 (just ended March 31, report due out April 29 or 30 depending who you ask) __and__ 1999. No wonder the stock dropped today! I'm hanging in there (not much choice!). Hope the Symbios merger brings some good news on the earnings front. But the lower 1999 estimates coming out now make you wonder about Rachel Havens' theory that the analysts aren't looking at 1999 until the 1998 figures are done. The other thing: 4Q98 estimate stayed stable at .31, but FY98 went down 1 cent, even though the first three quarters are in the bag. How can this be?? Could it be that the analysts don't know as much as they think they do? <g>

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