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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Gottfried who wrote (6761)	7/8/1999 7:46:00 PM
From: Mark Oliver	Read Replies (1) \| Respond to of 9256

G, Do you still hold RDRT? They are certainly looking like they'll have a bad quarter, but I guess we all await the conference call to hear the news, good or bad. I saw the earnings whisper calls for a -.50 loss vs est of -.45. Certainly, the negative is factored in, or is it? I know what L Kam would say. More warnings, Mark HMT Technology Corporation Financial Results for First Fiscal Quarter to be Below Fourth Quarter Business Wire - July 08, 1999 17:03 FREMONT, Calif.--(BUSINESS WIRE)--July 8, 1999--HMT Technology Corp. (Nasdaq:HMTT) announced today that it expects to report a loss greater than the fourth quarter loss of $0.23 per diluted share. "Unit shipments were lower than expected towards the end of the quarter due to our customers taking actions to reduce their build rates. The combination of weaker shipments and more aggressive market prices will depress our financial performance. Despite the difficult market conditions impacting the entire hard disk industry, HMT continues to effectively manage its working capital and expects to be cash positive again in the first fiscal quarter," said Ronald Schauer, Chairman, President and CEO of HMT. HMT Technology will release results for the quarter at the close of the market on July 21, 1999, and will have further comments at that time. The statements in this news release, other than the historical financial information, may contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ from predicted results. Further information on factors that could affect the company's results is detailed in the company's report on Form 10-K for the year ended March 31, 1999, as filed with the Securities and Exchange Commission. The company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. HMT Technology Corporation independently designs, develops, manufactures and markets high-performance thin-film disks. The company's products are used in high-capacity hard disk drives for a variety of high-end applications including personal computers, network servers and workstations, and in certain removable hard disk drive applications. The disks currently being shipped by HMT primarily have coercivity levels of 2100 to 3300 Oersted, a measure of storage capacity, and glide heights of 1.2 to below 0.7 microinches. The company's shares are traded on the Nasdaq National Market under the symbol HMTT. Additional information may be obtained by visiting HMT's website at hmtt.com, or by contacting the company directly. CONTACT: HMT Technology Corporation Peter Norris, 510/490-3100 (Vice Pres., Finance & CFO) Investor Relations, 510/683-6000