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Technology Stocks : Quantum Disk Drives (HDD) -- Ignore unavailable to you. Want to Upgrade?

To: M. Frank Greiffenstein who wrote (43)	1/20/2000 5:26:00 PM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 179

Disk Drive sector is back! Nobody sell HDD for 1 year, retire on this puppy.

To: M. Frank Greiffenstein who wrote (43)	1/20/2000 5:27:00 PM
From: SamuraiSam	Read Replies (1) \| Respond to of 179

Quantum Corporation's Hard Disk Drive Group Reports Profitable Results for Third Quarter Fiscal 2000 MILPITAS, Calif.--(BUSINESS WIRE)--Jan. 20, 2000-- Quantum Reports Record Unit Shipments in Each of its Hard Disk Drive Businesses Quantum Corporation's Hard Disk Drive Group (NYSE: HDD) today announced results for its third fiscal quarter ended December 26, 1999 of $889 million in revenue on record shipments of 8.7 million units. Net income and net income per share, diluted, were $5.2 million and $.06, respectively. "We are pleased with the significantly improved performance of our hard disk drive business this quarter", said John Gannon, president of Quantum's Hard Disk Drive Group (HDDG). "HDDG experienced sequential revenue growth and record unit shipments in each of its desktop, high-end and consumer electronics hard disk drive businesses. "Our results reflect our industry leadership in the areas of time-to-market and quality, complemented by improved market conditions for desktop drives. During the quarter, we successfully shifted our desktop product line to our new Fireball lct low-cost drive platform, which has now climbed the fastest manufacturing ramp in our industry's history. As a result of our strong execution and improved industry conditions, gross margins increased sequentially from 2.9% to 11.7%." Commenting on HDDG's continued strength in asset management, Gannon noted the business generated approximately $71 million in cash from operations in the December quarter and achieved a record 34 inventory turns. For the quarter ended December 26, 1999, the consolidated net income for Quantum Corporation was $56 million. About Quantum Founded in 1980, Quantum Corporation (www.quantum.com) is the world's leading storage supplier in four of the six markets it serves: desktop hard disk drives, tape drives, network attached storage (NAS) appliances and solid state systems. Quantum is also the second largest supplier of mid-range tape automation systems and a leading supplier of high capacity hard disk drives. In 1999 Quantum became the first Silicon Valley company to issue tracking stock, replacing its existing common stock with the ticker symbols DSS and HDD, which track the separate performance of the company's DLT and Storage Systems and Hard Disk Drive businesses. Both stocks are traded on the New York Stock Exchange. Selling its products through OEM and distribution channels worldwide, sales for the fiscal year ending March 1999 were $1.3 billion for Quantum's DLT and Storage Systems Group and $3.6 billion for Quantum's Hard Disk Drive Group. The foregoing statements regarding the Hard Disk Drive Group's financial performance resulting from stronger business execution and favorable hard disk drive market trends, are forward-looking statements, and actual events or trends may differ materially. Important factors which could affect actual results or trends include (i) the ability of the Hard Disk Drive Group to continue lowering the cost of its desktop hard drives to meet the competitive demands of the rapidly growing low-cost PC market, (ii) increased price competition in the desktop hard drive market segment, (iii) successful customer qualifications of new desktop hard drive products with the top PC OEMs and the ability of MKE to quickly achieve volume production of high-quality desktop hard drives at a competitive cost, (iv) successful development of technologies required to introduce high-quality, low-cost desktop hard drives that achieve market acceptance, (v) the other important risks, uncertainties and cautionary statements contained in Quantum's Annual Report on Form 10-K for the fiscal year ended March 31, 1999 and the quarterly report on Form 10-Q for the quarter ended September 26, 1999. We undertake no obligation to update such forward-looking statements in the future.