To: Ed Person who wrote (21854 ) 1/12/1999 4:47:00 PM From: Jenna Read Replies (1) | Respond to of 120523
VRIO .... SEG 0.42 cents actual versus 0.26 analysts' est. YHOO: YHOO 0.21 actual versus 0.16 analysts' est. good way to begin our earnings plays season.. although we've gotten a good deal out of YHOO since December 28 when the internet newsletter was released, it looks like we might have a new surge tomorrow.. Today was a good day to pick up some internet option calls for a 'discount'... ELNK, VRIO, and the portals could invariably have a good day tomorrow, add the earning surprise for INTC and maybe that solidifies things.. VRIO earnings won't be coming in until last week in February.. which is a good thing.. I wouldn't want earnings release to be swallowed up in a 'corrective' internet climate. Still holding VRIO and with any news of any importance in internet sector, VRIO should use the opportunity to fly. SEG. Company Press Release Seagate's Strong Q2 Results Reflect Ongoing Operational Improvements Company Continues to Implement New Business Model SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Jan. 12, 1999--Seagate Technology, Inc. (NYSE:SEG - news) today reported revenue of $1.801 billion and net income and diluted net income per share of $104 million and $0.42, respectively, for its quarter ended January 1, 1999. Stephen Luczo, Seagate's President and Chief Executive Officer said, ''We had an excellent quarter with strong revenue growth and improving gross and operating margins in the disc drive, tape and software businesses. The Company's total revenue for the quarter represented a 16% increase over the prior quarter, with gross margins of 23.8%, up 3.1 percentage points from the prior quarter. In addition, Seagate's cash position increased to $2.2 billion, which is an increase of $345 million from last quarter. We also posted significant improvements in earnings per share, inventory turns and other financial and operating metrics. ''We believe that this performance is directly related to the actions we have taken over the last year to increase our productivity and improve the competitiveness of our products. Most important, the performance is a reflection of the outstanding talent, dedication and effort put forth by all of Seagate's employees throughout the world.