XEBEC EXPECTED TO ANNOUNCE LOSS FOLLOWING END OF OEM CONTRACT FROM IBM

Xebec Corp is the latest company to be plunged into gloom by the ending of an OEM contract from IBM: the Los Gatos, California company which supplied disk controllers for the Personal Computer, says that IBM business had been accounting for 50% of its volume, that it had fallen to 20% in the most recent quarter, and that it didn’t expect to have any business in the future from IBM; as a result, it expects to report an unquantified loss for the first quarter on sales of $23m.

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