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Article: Adaptec Reports First Quarter Profits of $51 Million; Revenue $192 million; EPS $0.46.

Article from:
Business Wire
Article date:
July 22, 1999
Copyright

MILPITAS, Calif.--(BUSINESS WIRE)--July 22, 1999--

Adaptec, Inc. (Nasdaq:ADPT) today announced financial results for its first quarter of fiscal year 2000 which ended June 30, 1999.

Actual net revenues for the first quarter were $192 million. Actual net income was $51 million. Actual diluted earnings per share were $0.46. Excluding the gain on the sale of a piece of property, EPS would have been $0.44.

Adaptec attributed the healthy first quarter to continued strong demand for the company's RAID and host I/O products, which provide reliable information access for a variety of Internet, e-business, and server applications. The demand is fueled by ... 







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