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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Bald Man from Mars who wrote (1880)	4/30/1998 8:11:00 PM
From: jgercke	Respond to of 5944

Comments from CC: Quarter was tough, but plenty of ups to go with downs: 1.) non SCSI big positive; competitive position is positive and new product pipeline impressive 2.) major oems lined up for new products and technology 3.) most gains for UMDA are over for desktop users 4.) server market has marked preference for SCSI solutions headcount reduction cost savings show next quarter arranging for bank loan for 450mm bank loan for Symbios also bond issue subsequent to closing to repay bank Adaptec has "significantly" lowered operating expenses, made strategic investments and taken advantage of opportunities (i.e. Symbios) aggressively structuring business for success, inventing a "New Adaptec" consolidation of business lines into 3: 1.) host interface solutions division 2.) storage systems division 3.) semi-conductor and peripheral solutions division more now than ever before, Adaptec is "ideally positioned" customers are "excited" first half will be difficult, tho industry will probably recover in second half, and company anticipates stronger second half business strategy is "prudent offense" OK, I didn't listen to all the questions, but the management is bullish on the future, next couple of quarters will be difficult, but they are sowing seeds for future reaping. I didn't hear anything negative except for the known fact that business conditions have been difficult. jg