Conner Peripherals Inc warns that it expects its net loss for the third quarter to be greater than the current range of analysts estimates: the disk and tape drive maker also said it is considering additional downsizing, and expects to unveil cost-cutting plans when it releases third quarter results before the market opens October 21; analysts had expected the company to report a full-year share loss of $2.00 against a $2.19 profit in 1992, and had ranged from a 30 to a 70 cents loss for the quarter just ended; During the third quarter, the disk drive industry continued to experience excess capacity and severe price competition, greater than previously outlooked said Conner chairman FInis Conner – In response to these factors, we will take a number of major actions to size our total business in line with our current outlook for new products and to eliminate costs associated with older technology.
