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Technology Stocks : QUANTUM

QNTM 6.210

-2.5%

Nov 20 3:59 PM EST

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To: Lutz Moeller who wrote (8440)	2/8/1999 10:39:00 PM
From: Steve Rolfe	Read Replies (2) of 9124

SEAGATE TECHNOLOGY will at least match industry growth at more than 20% in calendar 1999, senior vice president of Asia Pacific drive operations Mike Stears said. "The latest forecast, I think, is a greater than 20% growth," Stears, referring to output trends for the sector, told reporters. "I think we would at least track industry growth." "Our demand in the first month was outstanding, especially given the fact that we had a very good quarter," he said. For the 2Q ended January 1, Seagate's net income surged to $104 mln compared with a loss of $183 mln in the same quarter in the previous year. "We believe that the strength of the recovery would continue," Stears said. "From a volume perspective, we definitely believe that our business would grow." (Reuters 01:51 AM ET 02/08/99)

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