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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (4612)	2/14/2001 5:12:08 PM
From: Jenna	Respond to of 6445

ADIC up in after hours... held this also, now if LH does well tomorrow its 3 out of 3. ADIC Reports Sales of $90 Million in First Quarter as Annual Growth Exceeds 41 Percent First Quarter Earnings Reach $8.7 Million, or 16 Cents Per Share REDMOND, Wash.--(BUSINESS WIRE)--Feb. 14, 2001--Advanced Digital Information Corporation (Nasdaq:ADIC - news) today announced sales grew 41 percent to $90.1 million for the first quarter ended Jan. 31, 2001, versus sales of $63.9 million for the same period a year ago. Earnings were $8.7 million, or 16 cents per diluted share, for the quarter as compared to $7.2 million, or 13 cents per diluted share, for the first quarter of fiscal 2000. ``Revenue growth was exceptional this quarter as OEM sales grew by nearly $20 million over levels in the fourth quarter reflecting the ramp up of sales to IBM and continued strength among existing OEM customers,'' commented Chairman and Chief Executive Officer Peter van Oppen. ``We diverted production and engineering resources to support OEM demand but opportunities for both branded and OEM business remain robust,'' he said. Total OEM revenue was 45 percent of sales versus 28 percent of sales in the previous period.