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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Crossy who wrote (2260)	11/11/1997 3:11:00 PM
From: Daveyk	Read Replies (2) \| Respond to of 37387

Crossy,I think following will explain whhy RDRT up today. " Tuesday November 11, 9:00 am Eastern Time Company Press Release SOURCE: Read-Rite Corporation Read-Rite to Supply Samsung Magnetoresistive Recording Heads Supporting 2.1 GB Per 3.5-Inch Disk MILPITAS, Calif., Nov. 11 /PRNewswire/ -- Read-Rite Corporation (Nasdaq: RDRT - news) today announced that Samsung Corporation has qualified Read-Rite's magnetoresistive (MR) recording heads for its SpinPoint series MR desktop hard disk drive program with capacity points ranging from 2.1 to 6.3 GB. Read-Rite will supply MR recording heads supporting 2.1 GB per 3.5-inch disk. ''We are very pleased that Read-Rite has been selected as the primary supplier for Samsung's SpinPoint desktop MR hard disk drive program,'' said Alan S. Lowe, president and chief operating officer. ''This qualification has demonstrated both companies' ability to successfully transition to MR technology following several major advanced inductive programs,'' he added. ''The qualification process was completed through close collaboration of our development teams and clearly benefited from the excellent strategic working relationship between Samsung and Read-Rite team members,'' said John Glavin, Samsung's senior vice president, hard disk division, research and development center. ''The SpinPoint 2.1 GB per 3.5 inch disk desktop MR hard drive product line is a major program for Samsung, and we are pleased to have Read-Rite as our strategic supplier,'' he added. Read-Rite has ramped volume production for the new Samsung program and will be shipping MR heads in November as fully assembled head stack assemblies (HSAs) containing two to six recording heads. The HSAs will be manufactured at Read-Rite's HSA facility in the Philippines and shipped to Samsung's Kumi manufacturing plant in Korea. Mr. Lowe noted Samsung is Read-Rite's fifth customer for MR recording heads. Read-Rite Corporation is the world's leading independent manufacturer of recording heads, HGAs and HSAs for disk drives and MR heads for quarter-inch-cartridge tape drives. The company is headquartered in Milpitas, California and has operations in California, Japan, Thailand, Malaysia, the Philippines and Singapore. Read-Rite employs some 23,000 people. The company's home page on the World Wide Web can be reached at www.readrite.com. This news release contains statements which include forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended, and is subject to the ''safe harbor'' created by those sections. These statements include, but are not limited to, the company's statements that it will be the primary supplier on this new MR program. The company's actual results for future periods could differ materially from those projected in such forward-looking information. Factors that could cause actual results to differ include, but are not limited to, the following: the company's ability to ramp-up volume production of heads, HGAs and HSAs quickly and cost-effectively on this new MR program and to sustain such production; the company's yields in MR production; competitors may introduce MR products earlier and/or more cost-effectively than the company; and demand for the company's products could weaken and lead to order reschedules or cancellations. Read-Rite undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements. SOURCE: Read-Rite Corporation" Regards,Dave P.S.Good news never hurts!!