To: William, III who wrote (7048 ) 1/15/1998 6:41:00 PM From: RFF Read Replies (1) | Respond to
<<<They basically said DLT was responsible for all earnings this qtr and that desktop drive shipment hit record numbers, but still lost money.>>>"...we are gratified with what we were able to achieve in terms of our ongoing operations. We shipped a record 7 million hard disk drives; achieved record sales to OEMs; our desktop hard disk drive business remained profitable despite the significant pricing pressure..." biz.yahoo.com Sales of Quantum's DLT brand tape products were $330 million for the third quarter. ''Revenue from our DLT tape business increased 62% from the third quarter a year ago, and our DLT business again accounted for a record 22% of our sales for the quarter,'' said Brown. ''In the high-end part of the hard disk drive market, demand has not picked up sufficiently to absorb the excess inventory in the distribution channels,'' said Brown. ''Although our loss in that The company generated $129 million in cash from operations during the quarter, its fifth consecutive quarter of positive cash flow from operations. ''We currently have cash and available credit in excess of $1 billion and are pleased with the progress we have made in recent quarters concerning our cash and available credit position, particularly in light of current business conditions,'' said Brown.
