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Technology Stocks : Adaptec (ADPT)

ADPT 16.84

-9.9%

10:16 AM EST

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To: Torben Noerup Nielsen who wrote (1886)	4/30/1998 10:23:00 PM
From: Starowl	Read Replies (3) of 5944

Thanks, Torben; same to Walter. I listened to the conference call and came away with much the same impression. The last half of FY98 forced management into some hard thinking and reassessment. Now, after two lackluster quarters (to be polite)--one a surprise; the most recent expected and foretold--the company is pulling itself together. The only real negative I heard is the forecast of continued pressure this quarter in the disk drive side of the business because of high inventories in the channel continuing into the second quarter. But it was noted that this would be partially offset by improvements in the host adaptor side. These could be conservative statements. It remains a profitable company and has not only restructured itself for the future but taken advantage of opportunities this last quarter, especially with Symbios. These aren't cosmetic changes. And this is the time to make them. Who knows how the market will react. I think some will see value in the stock. I do. Starowl

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