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Technology Stocks : Seagate Technology -- Ignore unavailable to you. Want to Upgrade?

To: BLong who wrote (4679)	2/17/1998 10:48:00 PM
From: DJBEINO	Read Replies (4) \| Respond to of 7841

Seagate CEO Says New Technology Won't Boost Revenue This Year Dow Jones Online News, Tuesday, February 17, 1998 at 17:45 NEW YORK -(Dow Jones)- Seagate Technology Inc. Chief Executive Alan Shugart Tuesday said the company does not expect its new storage technology to improve company revenue this year. Seagate (SEG) should see an effect on revenue in "the next year or two," Shugart told CNBC. The maker of disk and tape storage devices has made a "breakthrough" in storage capacity for disk drives that will allow storage of 40 gigabits of information in the space of a postage stamp. The company is not announcing any orders at this time, but merely wants to "make our customers and our employees and our stockholders aware of the investment we've made in our future technology," Shugart said, noting that Seagate expects to announce a product related to the technology later this year. The chief executive also said he doesn't expect the disk drive business to reach a supply-and-demand equilibrium for at least two quarters. "We have another couple of quarters" before the supply-and-demand equation gets in balance," he said.