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Technology Stocks : Adaptec (ADPT)

ADPT 15.77

-4.3%

Feb 6 9:30 AM EST

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To: Tom M who wrote (2772)	6/25/1998 11:14:00 AM
From: Dr. Johannes Bruski	Read Replies (1) of 5944

Tom: the news is that Adaptec will take a $ 20.000.000 charge due to the failed acquisition. Now if that means an immediate deduction of 20.000.000 this quarter, per share income will drop by approx. 17 cents per share (20.000.000 divided by 116.558.000 [no. of outstanding shares]). Given that IR indicated - I refer to an earlier post - that Adaptec might meet estimates for this quarter of approx. 20 cents per share, is it not quite probable that, if that statement did not anticipate the cancellation of the Symbios deal (which I think is probable), this quarter's earnings will fall way below estimates, even if interest income for the next two quarters may well be something like $ 20.000.000. Before one buys more stock, it may be wise to wait for the earnings report for this quarter. Or am I wrong? Regards, J. Bruski

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