Tuesday March 23, 5:59 pm Eastern Time
Company Press Release
SOURCE: Read-Rite Corporation
Read-Rite Expects Loss for Second Quarter Fiscal Year 1999
MILPITAS, Calif., March 23 /PRNewswire/ -- Read-Rite Corporation (Nasdaq: RDRT - news) today announced it expects sales for the second
quarter ending March 31, 1999 to be approximately 10% below the $230.2 million reported for the first quarter ended December 31, 1998, and the
company will report a loss for the second quarter. Read-Rite Corporation will release results for the quarter at the close of market on April 14, 1999,
and will have further comments at that time.
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
readrite.com.
NOTE: 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 sales for the second quarter will be down approximately 10%, and that the
company will report a loss for the quarter.
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: customers may cancel or reschedule orders; increased pricing pressures may occur for the
company's products; the company may experience a further reduction in the number of head gimbal assemblies per headstack; the company's
production costs may increase; 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 1998. 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 |
