Read-Rite is out front with a new technology for reading disk data

Article Abstract:

Read-Rite Corp has a 50 percent share of the market for disk heads based on the new thin-film technology. Heads read the bits and bytes of data that are stored in microcomputers' magnetic disks. The company is the supplier for disk drive manufacturers such as Maxtor, Conner Peripherals and Western Digital. Its earnings for the 1st fiscal qtr ended Dec 31, 1992 totalled $17.2 million, or 52 cents per share, almost twice that of the year-ago period total of $8.9 million, or 33 cents per share. Read-Rite is constructing plants in Fremont, CA, and Bangkok, Thailand, and has been adding manufacturing equipment at a rate of $25 million per quarter. The company went public in Oct 1991 and analysts at investment firms have written favorable reports on its stock viability.

Electronic components, not elsewhere classified, Column, Read-Rite Corp., Market share, Read-write heads, Read/write heads

---

Conner says first-quarter profit will be weak

Article Abstract:

Conner Peripherals Inc discloses that its 1st qtr 1993 earnings will fall short of analysts' estimates because of weak demand and price declines for its disk drives. Analysts have previously placed Conner's estimated earnings at 48 cents per share for the quarter; following the company's disclosure, estimates have plunged to as little as 15 cents. In 1992, Conner's 1st qtr earnings totalled $24.7 million, or 42 cents per share, on revenues of $441 million. The company's weak performance for 1993 reflects the troubles that are plaguing the disk drive industry, brought about by price wars, the weak economies of Japan and Europe, and the shift toward higher-capacity disk drives.

Market Analysis, First Quarter, Conner Peripherals Inc., CNR

---

Miniscribe, citing lawsuits, makes bankruptcy filing

Article Abstract:

Miniscribe Corp, a disk drive manufacturer beset by lawsuits after a fraud investigation, has filed for protection from stockholders under Chapter 11 of the Bankruptcy Code. Thirteen lawsuits by stockholders were filed after a committee of outside directors reported that senior management had organized an extensive fraud. Members of the management team have since departed, either by resignation or dismissal, but not before announcing a 4th qtr 1988 loss of $14.6 million. Miniscribe's principal lender, the Standard Chartered Bank of Hong Kong, will provide up to $20 million to refinance and reorganize the company.

Cases, Bankruptcy, Stockholder, Legal Issues, Lawsuits, Financial Stability, Losses, MiniScribe Corp., MINYE

Similar abstracts:

• Abstracts: Invented in U.S., spurned in U.S., a technology flourishes in Japan. Industries in U.S. and Japan form alliance on new TV technology
• Abstracts: Chip group is left with a solid base; many say Sematech's progress will continue despite leader's death
• Abstracts: New Macintosh via the mail delivers local networking with color. A classic Mac's many possibilities
• Abstracts: Ideas & trends: new weapons prolong the computer wars. Nextstation's future hinges on software

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.