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Technology Stocks : Read-Rite
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To: Dennis R. Duke who wrote (3506)6/11/1998 4:23:00 PM
From: William Wang  Read Replies (1) of 5058
 
SB: RDRT Qualifies on Samsung Program - A Move in the Right Direction

* RDRT announced today that Samsung has qualified Read-Rite's MR recording heads for their desktop hard disk drive program supporting 2.8GB/disk.

*The announcement provides testament of a healthy relationship between the hard drive company and head supplier. We anticipate that RDRT's supplier relationship with Samsung will further transcend this qualification to follow-on products by Samsung as well. We also view this qualification as a step by RDRT in the right direction to continue to strengthen relationships with a broader base of hard drive companies.

*Additionally, with the announcement RDRT notified that it has achieved an important milestone -- that its transition to MR for its desktop disk drive customers is complete.

*RDRT will be shipping MR heads for Samsung's new drive program as head gimble assemblies (HGAs)and fully assembled head stack assemblies (HSAs) containing up to six MR heads. Read-Rite's MR wafers will be fabricated into MR sliders then assembled into HGAs in Thailand. Subsequently, the HGAs will be assembled into HSAs at Read-Rite's facility in the Philippines and shipped to Samsung's manufactureing plan in Kumi, Korea.

*Maintain Strong Buy rating.
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