Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Sam who wrote (199)	2/10/2000 2:23:00 PM
From: Gottfried	Read Replies (2) \| Respond to of 488

Sam, Quantum buyback... FEB 10,2000 5:09 PACIFIC 8:09 EASTERN ( BW)(CA-QUANTUM)(DSS)(HDD) Quantum Announces $100 Million Increase in Stock Repurchase Program Business Editors/High-Tech Writers MILPITAS, Calif.--(BUSINESS WIRE)--Feb. 10, 2000--Quantum Corporation (NYSE:DSS)(NYSE:HDD) today announced that the board of directors has authorized an increase of $100 million in the company's stock repurchase program, increasing the amount previously authorized to a total of $700 million for the current program. Richard Clemmer, executive vice president and chief financial officer, said the additional funds have been authorized for the repurchase of the company's HDD stock. HDD is the ticker symbol for Quantum's Hard Disk Drive Group (HDDG). "Our return to profitability in the most recent quarter, combined with the increasing strength of our HDDG balance sheet, are the direct result of our strong execution and leadership position in hard disk drive market. This gives us increased flexibility to begin including HDD stock in our repurchase program," Clemmer said. "Given that Quantum's HDD stock is currently trading at close to book value, we certainly view HDD shares as a compelling value. We expect to repurchase shares of HDD over the next several quarters, while continuing to focus on our priority of maintaining a strong balance sheet." During the past 18 months, Quantum's board of directors has authorized a total of $1 billion for the repurchase of the company's common stock. Since the issuance of tracking stock, Quantum has repurchased approximately three million shares of HDD and approximately 16 million shares of DSS, the ticker symbol for the company's DLT & Storage Systems Group. Received by e-mail, so no link. Gottfried