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Strategies & Market Trends : Asia Forum -- Ignore unavailable to you. Want to Upgrade?

To: MikeM54321 who wrote (4337)	6/10/1998 9:48:00 AM
From: MikeM54321	Respond to of 9980

Re: Asia Warnings Here's another that doesn't specifically mention Asia as being a problem. It's just lumped it into "industry weakness." I'm pretty certain this is another way to say Asian problems. Now they do manufacture in Asia so I thought this was interesting (regarding my previous post #4333). ****************************** Read-Rite Expects Third Quarter Fiscal 1998 Results To Be Below Analysts' Expectations MILPITAS, Calif., June 10 /PRNewswire/ -- Read-Rite Corporation (Nasdaq: RDRT - news) today announced that due to continuing difficult industry conditions and reductions in demand, it presently expects sales for the third quarter of fiscal 1998 ending June 28 will be approximately flat compared to sales of $187 million reported for the second quarter of fiscal 1998 ended March 29, 1998, and thus below analysts' expectations. Based on this current sales expectation, the company believes its operating loss for the third quarter will, however, be less than the loss of $1.29 per share reported for the second quarter of fiscal 1998 due to continuing cost reduction efforts, but will be greater than current analysts' expectations. Read-Rite will be reporting financial results for the third quarter on July 15 after the market close and will have further comments at that time. Read-Rite Corporation is one of the world's leading manufacturers of magnetoresistive recording heads, head gimbal assemblies (HGAs) and head stack assemblies (HSAs) for disk drives, and magnetoresistive heads for quarter- inch-cartridge tape drives. The company is headquartered in Milpitas, California and has operations in Japan, Thailand, Malaysia, the Philippines and Singapore.