thanks for the heads up on the Maxtor qualification. I'm not sure that this is new news, but it never hurts. Anyway, thought I'd post the press release:
Read-Rite Shipping Maxtor Corporation Magnetoresistive Recording Heads Supporting 4.3 GB Per Disk
PR Newswire - November 24, 1998 08:45
MILPITAS, Calif., Nov. 24 /PRNewswire/ -- Read-Rite Corporation (Nasdaq: RDRT) today announced Maxtor Corporation (Nasdaq: MXTR) has qualified Read-Rite's magnetoresistive (MR) recording heads for its desktop hard disk drive program, supporting 4.3 GB per 3.5-inch disk.
"We are very pleased Read-Rite has been selected as a major supplier for Maxtor's new DiamondMax 4320 MR hard drive program," said Alan S. Lowe, president and chief operating officer.
"Read-Rite is an important supplier of recording heads to Maxtor," said David Beaver, vice president worldwide materials at Maxtor. "We are pleased to be working with them on our new DiamondMax 4320 program," he added.
Read-Rite began shipping the MR heads in volume to Maxtor last month. The MR heads are being shipped as fully assembled headstack assemblies (HSAs) which contain up to eight MR heads, providing up to 17.2 GB per disk drive.
Maxtor Corp. develops, manufactures and markets hard disk drives for desktop computer systems. The fastest growing supplier of hard disk drives for the desktop personal computer market, Maxtor's current product line includes the DiamondMax 4320, the DiamondMax 3400, the DiamondMax Plus 2500 and the DiamondMax 2880 series of drives. Maxtor can be reached by phone at 800-2-MAXTOR or on the Internet at www.maxtor.com.
Read-Rite Corporation is one of the world's leading independent manufacturers of MR recording heads, head gimbal assemblies (HGAs) and head stack assemblies (HSAs) for disk drives and magnetoresistive heads for tape drives. The company is headquartered in Milpitas, California and has operations in Japan, Thailand, the Philippines and Singapore. The company's home page on the world wide web can be reached at www.readrite.com.
This news release contains statements which include forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and is subject to the "safe harbor" created by those sections. These statements include, but are not limited to, the Company's expectation that it will successfully sustain volume production for Maxtor's 4.3 GB program; and the Company's expectation that it will continue to receive production orders from Maxtor. The Company's actual results for future periods could differ materially from those projected in such forward-looking information. Factors that could cause actual results to differ include, but are not limited to: Maxtor may not order, or may cancel or re-schedule orders for, MR headstacks; and the other factors described in the company's reports filed with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K for fiscal 1997 and quarterly reports on Form 10-Q for the first second and third quarters of fiscal 1998 ended December 31, 1997, March 31, 1998, and June 30, 1998 respectively. Read-Rite undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements.
SOURCE Read-Rite Corporation
/CONTACT: investors, Jane Conn, 408-956-3276, or media, John DiMatteo,
408-956-3389, both of Read-Rite Corporation/
/Web site: maxtor.com
/Web site: readrite.com
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