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Technology Stocks : Disk Drive Sector Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: Tom Simpson who wrote (3123)	4/29/1998 1:27:00 AM
From: shane forbes	Read Replies (3) \| Respond to of 9256

Tom: Not sure about the bravado in this statement but he seems adamant: "March was definitely the bottom". biz.yahoo.com ---- Read-Rite says industry bottomed in March SAN FRANCISCO, April 28 (Reuters) - Read-Rite Corp president Alan Lowe said that the disk drive industry bottomed in March, and he is still confident that his company will see 10 to 20 percent sequential revenue growth in the third quarter. ''I'm confident with our projections (that the company made on its conference call with analysts),'' Lowe told a Hambrecht & Quist Technology conference here. ''March was definitely the bottom.'' Lowe said that March was an ''ugly quarter'' for the disk drive industry, referring to a quarter that has been fraught with a glut of disk drive inventories, price cuts, financial losses and even layoffs at some disk drive makers. ''The level of inventory among OEMs (original equipment manufacturers) has been reduced,'' Lowe said. In its fiscal second quarter, Read-Rite, a maker of recording heads and head assemblies for disk drives, reported a net loss of $62.2 million and revenues of $187.1 million, a 34 percent drop versus the year-ago period. ---- Let's see.... ---- Shane.