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

To: Arthur who wrote (3946)	10/23/1998 1:13:00 PM
From: Jim Switz	Respond to of 5944

Arthur, thanks for the link. After a very quick first read, I spotted three glaring errors: 1) ADPT hasn't been involved in ATM products for a year or two. but more importantly, 2) They incorrectly labeled Q199 and Q299 as Q1/2 of 98! Same for "Q297", which was really Q298. 3) They then compared Q199 and Q299 EPS incorrectly, showing only the operating profit for Q1, but including the charges for Q2. Apples-to-apples, they should show -$0.22 and -$0.68 for Q2/Q1, not the -$0.22 and $0.10 they posted (although they did note "before charges", they should have shown equivalent numbers for both quarters - they made things look worse than they are). Or they could have reported operating earnings only (ignoring charges) and listed $0.00 and $0.10; either would have been more consistent. Very sloppy reporting on their part.

To: Arthur who wrote (3946)	10/23/1998 4:12:00 PM
From: Arthur	Read Replies (1) \| Respond to of 5944

Adaptec Jumps After Slightly Better Earnings(Reuters) excerpt ''Results were a little better than expected in virtually every regard,'' said John Rossi, a BancBoston Roberston Stephens analyst. ''We think that the company will return to respectable profitability in the current quarter.'' Rossi maintained a buy rating on Adaptec and said the combination of improved operating results and its stock buyback plan could lift the stock to $20 during the next six months. dailynews.yahoo.com