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To: Mark Adams who wrote (4840)	1/7/2000 6:51:00 PM
From: Daniel	Read Replies (2) \| Respond to of 5058

Does APM's bankruptcy filing affect us?: biz.yahoo.com Friday January 7, 5:30 pm Eastern Time Applied Magnetics files for Chapter 11 GOLETA, Calif., Jan 7 (Reuters) - Applied Magnetics Corp. (NYSE:APM - news) said Friday that it filed for Chapter 11 protection in federal bankruptcy court in Santa Barbara, Calif. Operations at Applied's Goleta facility have been discontinued and most of the employees there have been laid off, the company said in a statement. Applied offices were closed Friday and company officials were unavailable for further comment. Applied said in a statement that it expects to continue limited operations in Malaysia and Korea in order to fulfill existing customer commitments. It will also continue to seek new financing in an effort to resume full operations, but said there is no assurance its efforts will be successful. ``In the past two years, magnetic recording head manufacturers have suffered from excess capacity and slowing demand from the hard disk drive industry,' Chairman and Chief Executive Craig Crisman said in a statement. ``These market conditions have severely hampered the company's efforts in qualifying its GMR technology on new products and have prevented the company from achieving its planned sales volume,' he said. Applied Magnetics is a manufacturer of magnetic recording heads, head-gimbal assemblies and headstack assemblies for computer hard disk drives.