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Technology Stocks : Read-Rite
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To: Mark Oliver who wrote (4158)10/22/1998 1:33:00 AM
From: CPAMarty  Read Replies (2) of 5058
 
It was good to hear you (one of "us") asking questions during the CC
The highlights for me were;
1. management's conservative estimate of 10% to 15% growth in revenue; capacity is not a problem. Sounds like we could see 20%, especially if the business at Quantum or Seagate develops. Gross margin targets of 18% to 19%, other expenses should remain virtually flat.
2. Production of GMR early in calendar 1999 (instead of mid 1999). Management was low key about but it sounds like the lead in GMR technology could give them an edge on the competition.
3. Will be profitable by the 2nd half of F/Y 1999 (if demand continues, if pricing improves if they execute); breakeven cash flow by 12/98.
4. Super DLT could become 10% of revenue
5. Working hard towards earning place as supplier of heads for HDDs at Quantum after 12/98
6. Heads per drive could actually increase.

IMHO we will be testing $10/share soon and if events turn out as outlined above, we will be in the twenties within 12 months.
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