The Company expects revenue and unit shipments of approximately $430 million and 5.3 million, respectively, resulting in an operating profit of $1 million to $3 million in its hard drive business and a consolidated net loss (including losses from new ventures) of between $8 million and $11 million, or $.04 to $.06 cents per share. These expected results exclude the favorable impact on the quarter’s EPS of the previously announced sale of the Company’s Connex and SANavigator businesses.
The new estimate is an improved outlook from the Company’s previous forecast for the September quarter given July 25, 2001. At that time, the Company estimated that its net loss would range between $15 million to $19 million, or $.08 to $.10 a share-including a small loss from its hard drive operations.
SOURCE: COMPANY PRESS RELEASE
