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To: Big Dog who wrote (1262)	8/7/1998 8:01:00 PM
From: redwood	Respond to of 1956

in regard to the website---i hope one of us can get in touch with the company on monday to at least get an answer--ok--1-800-command---thanks ---redwood

To: Big Dog who wrote (1262)	8/8/1998 7:50:00 PM
From: Big Dog	Respond to of 1956

Here's the Barron's article: "Bruised and Battered Adaptec Attracts Interest; Don't Bet on a DRAM Price Recovery 'til 2000": Given the current malaise afflicting semiconductor-equipment stocks, chipmakers, disc drive companies and various other segments of the high technology universe, its becoming pretty easy to find tech shares trading far below their peak levels. What's harder to find, given the changing fortunes of some of those companies, are honest to goodness bargains. Adaptec looks like one of the few exceptions to the rule. For ahost of reasons, Adaptec shares have been slowly but surely eroding away - the stock last finished at 11 15/16, down almost 80% from its 54 1/4 peak last October. Adaptecs problems are manifold, Last month, for starters, Adaptec reported seriously ugly results for its fiscal first quarter, ended June 30. Revenues slumped to $181 million from $271 million a year earlier, and the company lost $77 million, or 68 cents a share. To make matters worse, Adaptec warned that fiscal second quarter results would be hurt by plans to reduce inventory levels in the distribution channel. A few weeks earlier, Adaptec's $775 million bid for the Symbios division of Hyundai, a key rival, fell through when the FTC warned that it would seek to block the deal for creating a near monopoly in the SCSI business. The company has been hit by weakness in the disc drive market, by a slowdown in growth of the workstation market, and by the slide in PC prices, which has made it less likely for hardware makers to include relatively pricey SCSI adapters in their systems. Meanwhile, investors have been fretting that the SCSI market will be eroded in the months ahead by alternative technologies. Diversification efforts, meanwhile, have been less than successful. Adaptec, though, has begun to clean house. A few days after the latest earnings report, Adaptec's board pushed out chairman and CEO Grant Saviers, who had been running the company since 1992. Larry Boucher, who founded te company, became interim CEO; a search for a permanent replacement is under way. Saviers' departure, by the way, came less than a month after the exits of both CFO Paul Hansen, a 14 year Adaptec veteran, and Treasurer Chris O'Meara. The interim management team at Adaptec has so far given only sketchy details of how it plans to redirect the company, other than to say it will steer a more conservative course than the one followed with Saviers at the helm. (To Be Cont.)