investor2: You say " I've seen it all before, and it's not a pleasant sight". I am curious: how is that company doing now?
Adpt is a tough call. Having ridden it all the way down here, I think it is near the bottom. On the positive side, it has a large cash position and a good income stream, and good products. On the negative side, Symbios and Fibre Channel threaten from the high-end of the market, and UDMA from the low end has taken 20% of revenues. The market conditions for raid and scsi WILL improve, but not for a year or two. My biggest concerns are company morale (terrible, by all accounts) leadership (Boucher is temporary, and is he doing the right things?), and what are the company plans for future growth? What is the future of SCSI? Can SCSI be improved to compete with Fibre Channel? Is the company really going to RIF the Fibre Channel operations? Boucher says the FC market will not hit for 2 years, but EMC and others are ramping up sales now. Besides, 2 years is not that far away, and products should be developed now. Tough situation for investors, with little information to work with. wj |
