Ciprico Warns, Soft Sales:
Ciprico Announces Lowering of Third Quarter Estimates
PR Newswire - June 01, 1998 17:29
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MINNEAPOLIS, June 1 /PRNewswire/ -- Ciprico Inc. (Nasdaq: CPCI), a leading provider of RAID disk array storage solutions, today announced it is lowering its estimates for the fiscal third quarter, ending June 30th, to $7.0 to 10.0 million in sales and 1 to 17 cents earnings per share. As reported earlier, a large percentage of sales may occur during the last few weeks of the quarter.
"The Company has not experienced an increase in sales to the entertainment market this quarter as originally anticipated," said Robert H. Kill, Ciprico President and CEO. "Some OEMs, in this market, have pushed out their orders for a variety of reasons and we have not seen a ramp up of orders from direct and resellers accounts." The Company went on to note it sees the recently announced SGI partnership as building a good foundation for future sales opportunities in several markets.
Certain statements in this news release are forward looking and should be read in conjunction with cautionary statements in the Company's SEC filings, reports to shareholders and other news releases. The Company's quarterly and annual operating results are affected by a wide variety of factors, including fluctuating backlog levels, competitive market conditions, the ability or inability to ship a large percentage of orders during the last month or weeks of the quarter, and component cost and availability. The Company's actual results could differ materially from those expressed in forward-looking statements.
Ciprico Inc., an ISO 9000 certified company, designs, manufactures, markets and services disk arrays for the high-performance imaging and digital media markets. The company's products are sold worldwide to technical, scientific and creative professionals who require high performance, capacity and fault tolerance from their storage. Additional information about Ciprico can be obtained through the Internet on ciprico.com
SOURCE Ciprico Inc. |
