Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (19761)	12/10/1998 3:31:00 PM
From: Jenna	Respond to of 120523

ADIC an earnings play does well.. 1998 ADIC Sales Grow 56% to $41.6 Million in Fourth Quarter as Internal Growth, Acquisition Fuel Rise Quarterly Loss Reflects Non-recurring Charges. I noticed unusual activity on this stock from Monday, I called the company and asked them when they would report since they didn't on the ninth. They faxed me this morning. Stock has been under bullish anticipation since Monday began trading at 15 1/2 ADIC now 17 1/2 was as high as 18 5/8 and in an uptrend. REDMOND, Wash.--(BUSINESS WIRE)--Dec. 9, 1998--Advanced Digital Information Corporation (Nasdaq/NMS:ADIC - news) today announced results for the fourth quarter and fiscal year ended Oct. 31, 1998. Results include nine weeks of sales and earnings related to the former EMASS tape storage division of Raytheon Company [NYSE:RTNa - news] that ADIC acquired on Aug. 19, 1998. In addition, reported earnings include approximately $5.26 million in after-tax, non-recurring costs associated with the acquisition. Sales for the fourth quarter and fiscal year ended October 31 are $41.6 million and $114.6 million, representing increases of 56 percent and 23 percent, respectively, over the comparable prior year periods. Net loss for the quarter is $3.5 million, or 36 cents per share, while earnings for the fiscal year are $1.5 million, or 16 cents per share. Earnings for the fourth quarter and fiscal year 1997 were $2.7 million and $8.5 million, or 27 and 92 cents per share, respectively. Without the effect of non-recurring items, 1998 fourth quarter earnings would have been approximately $1.7 million, or 18 cents per share, and earnings for the full fiscal year would have been $6.8 million, or 69 cents per share.