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Technology Stocks : Advanced Digital Information Corp. (ADIC) -- Ignore unavailable to you. Want to Upgrade?

To: Scott D. who wrote (2105)	11/6/2000 10:44:24 PM
From: Jim Oravetz	Read Replies (1) \| Respond to of 2283

Advanced Digital Information Corporation (NASDAQ/NMS:ADIC) today announced that preliminary analysis of results for the fourth quarter ended Oct. 31, 2000 indicate sales will exceed $75 million for the period, consistent with guidance provided in the Company's Aug. 17, 2000 conference call during which actual third quarter results were discussed. The Company said complete fourth quarter results and audited results for the fiscal year are expected to be released on Dec. 7, 2000. Chairman and chief executive officer Peter van Oppen said, "We are extremely pleased to confirm that our overall revenue growth rate is accelerating as it reflects persistent growth in our US markets. Growth in our US core business, which represented approximately 65-67 percent of total revenues during the second and third quarters, has exceeded a 50 percent annual rate during each of the first three quarters of fiscal 2000. We believe we are also seeing some progress in the stabilization and turnaround of our important European and large library businesses which may allow a further acceleration in our overall growth rates during subsequent quarters." The Company said sales of ADIC branded tape library products and sales to OEM customers were both strong during the fourth quarter. Preliminary estimates of OEM sales, including shipments to Dell Computer and IBM, comprise approximately 25-27 percent of total sales versus 21 percent in the third quarter ended July 31. ADIC did not provide an estimate of earnings for the fourth quarter. It noted that continuing investments were made during the quarter in new facilities, an expanded ERP system as well as development of new products and sales channels. As a result of current levels of backlog, strong branded sales and anticipated escalation in shipments to major OEM customers, the Company reconfirmed guidance that it had previously provided with regard to revenues for the first quarter ending Jan. 31, 2001. Such guidance indicated revenues could reach double digit sequential growth between the fourth quarter and the first quarter of fiscal 2001. Guidance with respect to anticipated revenues and earnings for the full year 2001 is expected to be provided after final audited results for fiscal 2000 are available. About ADIC With more than 70,000 automated tape libraries installed, in.... Jim