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Technology Stocks : DSS: DLT finally open for trading -- Ignore unavailable to you. Want to Upgrade?

To: Z Analyzer who wrote (84)	10/8/1999 5:50:00 PM
From: Sam	Read Replies (1) \| Respond to of 488

QUANTUM PRE-ANNOUNCES DLT & STORAGE SYSTEMS GROUP MET RECORD EARNINGS FOR SECOND QUARTER FISCAL 2000 Milpitas, Calif., October 8, 1999 -- As a result of unusual trading activity today, Quantum Corporation's DLT & Storage Systems Group (NYSE:DSS) stated that preliminary revenue and earnings for its second quarter fiscal 2000 were $357 million and $.34 per share diluted, excluding charges associated with its acquisition of Meridian Data. Commenting on the company's outlook for the second half of the fiscal year, Peter van Cuylenburg, Quantum's president of the DLT and Storage Systems Group, said that revenue and earnings would be relatively flat for the December quarter as the result of market response to the Y2K transition as well as lower demand at one major OEM customer. "We expect that the business will return to normal growth rates after the Y2K transition is complete by early calendar year 2000," said van Cuylenburg. Quantum will announce complete earnings details for both the DLT and Storage Systems Group and the Hard Disk Drive Group (NYSE:HDD) Thursday, Oct. 14. ----------------- I have to say I am glad that they did this, although it might have been good for them to have waited until next week and just suck up stock at these price levels. I suppose that that wouldn't have been ethical. And I am presuming that they still have some of that $200 million left, which may not be a good assumption, we'll have to see at the CC. If they are not having the problems with the 8000 that Exabyte partisans are claiming, and if SDLT actually does ship by mid year next year, then this stock is a strong buy at these prices. A very strong buy.