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Microcap & Penny Stocks : Tokyo Joe's Cafe / Societe Anonyme/No Pennies

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To: Capt Ron who wrote (39858)	1/7/1999 7:23:00 AM
From: Tom Latham	Read Replies (1) of 119973

ADPT -----should get warm today Adaptec Announces Strong Preliminary Third Quarter Results Business Wire - January 06, 1999 17:13 MILPITAS, Calif.--(BUSINESS WIRE)--Jan. 6, 1999--Adaptec, Inc. (NASDAQ:ADPT) announced today that preliminary results for the company's fiscal '99 third quarter (ended December 31, 1998) operations show total revenues of approximately $183 million. Approximately $24 million of that figure will be classified as discontinued operations associated with the pending sale of Adaptec's Peripheral Technology Solutions (PTS) group. Given Adaptec's early analysis of its revenues, it anticipates diluted earnings per share to exceed $0.20 for the quarter. The company expects to announce its final results for the quarter on January 25, 1999 after the market closes. Adaptec attributes these preliminary results to three principal factors: continued robust demand for the company's core host bus adapter and software products; strong initial shipments of its 64-bit RAID product (officially announced in Adaptec's press release "Adaptec Makes 64-bit RAID a Reality" dated January 4, 1999); and better-than-anticipated progress on a previously announced expense reduction program. "We are taking the unusual step of preannouncing our preliminary third quarter results because our expected performance is significantly higher than current street expectations," said Andy Brown, CFO of Adaptec, Inc. "It is in that regard that we felt it was necessary to effectively communicate with our investors the progress we have made in refocusing the company."

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