Adaptec Inc yesterday reported its first quarter of the fiscal year 2000 announcing net income of $51m on revenues up 6.5% at $192.4m compared with a loss last time of $59m on revenues of $180.6m. Earnings per share for the quarter were $0.46, beating the average consensus of Wall Street analysts by 7 cents as reported by First Call. Adaptec attributed its healthy first quarter to strong demand for the company’s RAID and host products that connect remote users to corporate intranets and the internet. The company claims that being first to market with its Ultra160 SCSI storage technology and winning business with Compaq, which ships this product with its high-end desktop and workstation line, was a key revenue driver. The company’s Easy CD Creator version 4.0, with an MP3 capability has seen huge interest since the rise of downloading music over internet, the company said. Adaptec hopes its acquisition of German firm, CeQuadrat for $25m will boost acceptance of its CD-RW remote access software in that region. รก
