Factfinder,
Only thing I can find--
Read-Rite Off 8% After Western Digital Announces IBM Pact
By Christopher Grimes
NEW YORK (Dow Jones)--Read Rite Corp. (RDRT) shares fell 7.5% after one of its key customers, Western Digital Corp. (WDC), announced an agreement to buy disk drive components from International Business Machines Corp. (IBM).
Read Rite sells about 40% of its disk drive heads to Western Digital, said John Kurtweil, Read Rite's chief financial officer.
Kurtzweil said the IBM-Western Digital pact isn't expected to be implemented until early 1999, so "it's still too fresh and details aren't out there to get an assessment for 100% of what this means.
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"But Kurtweil said this doesn't neccessarily mean that Read Rite has lost all of Western Digital's business.
"If we continue to execute, we should be able to continue to participate on Western Digital programs, as well as for meeting other customers' requirements as well," he said.
Other Read-Rite customers include Seagate Technology Inc. (SEG), Samsung Group, Maxtor Corp. and Quantum Corp. (QNTM).
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For full story--http://interactive.wsj.com/inap-bin/bb?story_ptr=1&search_string=RDRT&max=10&page=7&list_entries=1&story_list=BT05/04++3301!&time=05/04+14:13
Yogi |
