Net revenues of $186.3 million were up 0.4% sequentially from net revenues of $185.5 million in the second quarter of fiscal year 2001, and down 11.9% from net revenues of $211.4 million in the third quarter of fiscal year 2000.
Net income was $25.5 million, down 19.3% sequentially from net income of $31.5 million in the second quarter of fiscal year 2001, and down 55.8% from net income of $57.5 million in the third quarter of fiscal year 2000.
Adaptec’s third quarter revenues were slightly up, despite the industry-wide economic slowdown that resulted in slower-than-anticipated seasonal sales, said Bob Stephens, president and CEO.
During the third quarter, Adaptec was able to achieve some very positive milestones toward future business growth in Direct Attached Storage, Storage Networking and Desktop Solutions.
