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July 11, 1993

MAINFRAME SLUMP HAS SERIOUS EFFECT ON CAMBEX

By CBR Staff Writer

Commenting on its substantial third quarter loss (see page five), Waltham, Massachusetts-based Cambex Corp says that it has taken a $7.578m write-down in the value of its inventory of IBM System/3090 trade-in memory: Buying decisions for our principal memory products, the STOR/9000 series for IBM System/3090 computers, continue to languish on a worldwide basis; the unprecedented mainframe slump has had a serious impact on Cambex new product sales and resale values of IBM trade-in memory; consequently, the company has decided to write down its IBM/3090 trade-in memory inventory to levels which are expected to be realised in light of the continued mainframe slump, the company explained, adding that the RS/6000 client-server business has not been affected by the slowdown; Cambex is also to buy in up to 1m of its shares over the next year.

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