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Technology Stocks : Applied Magnetics Corp -- Ignore unavailable to you. Want to Upgrade?

To: CPAMarty who wrote (12217)	2/4/1999 7:03:00 PM
From: appro	Read Replies (3) \| Respond to of 12298

APM qualification news. biz.yahoo.com Thanks to Stitch posting it first on Disk Drive Sector thread. exchange2000.com Full text copied from Yahoo.com link above: >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> Thursday February 4, 3:42 pm Eastern Time Company Press Release Applied Magnetics Corp. Announces Qualification of Disk Product GOLETA, Calif.--(BUSINESS WIRE)--Feb. 4, 1999--Applied Magnetics Corp. (NYSE:APM - news) Thursday announced that it has completed qualification of its 3.4 gigabyte per 3.5 inch disk product based on DAS Devices AMR design with Samsung Electronics Corp. As announced in the company's news release dated Jan. 21, 1999, the company recently commenced volume production shipments of this product. ''We are very pleased to be qualified and shipping production volume to Samsung Electronics Corp. on the 3.4 gigabyte per disk program,'' said Craig Crisman, chairman and chief executive officer of Applied Magnetics. ''The qualification at Samsung was achieved with the DAS Devices MR head technology and Applied Magnetics volume manufacturing capability, thus providing immediate value to the merger between AMC and DAS Devices.'' Crisman further added, ''We are looking forward to leveraging our strong technology base after the AMC-DAS merger and building on our relationship with Samsung Electronics.'' According to Samsung Electronics' Storage Systems, the AMC-DAS product has shown excellent performance and high drive yields so far in volume production. Applied Magnetics is currently in qualification on the 4.3 gigabyte per disk AMR product and follow on GMR based programs. Applied Magnetics is an independent manufacturer of magnetic recording heads, head-gimbal assemblies and headstack assemblies for computer hard disk drives. Founded in 1957, Applied Magnetics is the oldest independent U.S.-based supplier of disk heads to the merchant market. With headquarters in Goleta, the company employs more than 4,700 people around the world, with facilities in Malaysia, Korea, Singapore and China. The company's World Wide Web site can be found at www.appmag.com. Forward-looking statements included in this release are based on estimates and assumptions made by management of the company, which, although believed to be reasonable, are inherently uncertain and difficult to predict. Therefore, undue reliance should not be placed upon such estimates. Such statements are subject to certain risks and uncertainties inherent in the company's business that could cause actual results to differ materially from those projected. These factors include but are not limited to: successful transition to volume production of MR and GMR disk head products with profitable yields; the limited number of customers and customer changes in short- range and long-range plans; competitive pricing pressures; changes in business conditions affecting the company's financial position or results of operations that significantly increase the company's working capital needs; the company's inability to generate or obtain sufficient capital to fund its working capital needs; the company's ability to control inventory levels; domestic and international competition in the company's product areas; risks related to international transactions; and general economic risks and uncertainties. -------------------------------------------------------------------------------- Contact: Applied Magnetics Corp., Goleta Craig D. Crisman, 805/683-5353 -------------------------------------------------------------------------------- <<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<<