Zeev,
In all fairness , further to my comments on APM, I note they have this to say in their filing:
The company has made initial deliveries of GMR evaluation units to customers that are targeted for products at the 6.4 gigabyte per 3.5-inch disk capacity point.
Cash and equivalents at Oct. 3, 1998, were $71.7 million, a decrease of $33.2 million from the $104.9 million at July 4, 1998. The company entered into $1.9 million of operating leases for manufacturing equipment during the quarter ended Oct. 3, 1998.
Additional credit available under the company's existing credit facilities was $4.8 million. Assuming qualification of the 4.3 gigabyte per disk MR product, the company believes it will have sufficient cash flows from existing cash reserves and available credit facilities to support the company's transition to MR and GMR production.
I do not know the status of their GMR program but I think they are basically out of it for the 4.3 GB, MR stuff. So it all hinges, IMO, on their being able to jump on with GMR. Time for a hat trick or a pall bearer. Your guess is as good as mine.
Best,
Stitch
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