ADIC Expects Q2 Sales Lower At $80-$82 Million; Company To Present At Upcoming Conferences; Announce Final Results May 16.Business Editors Technology Writers REDMOND, Wash.--(BUSINESS WIRE)--May 2, 2002 Advanced Digital Information Corporation (NASDAQ/NMS:ADIC) today announced that sales for the second quarter ended April 30 were approximately $80-$82 million versus $96.1 million for the same period last year and $96.7 million in the immediately preceding quarter of fiscal 2002. On Feb. 14, the Company said it expected Q2 sales to be $95-$105 million. Final results for the second quarter are expected to be released after the market closes on Thursday, May 16. A conference call, which will be accessible live on the Company's website at www.adic.com/ir, will be scheduled later that day to discuss the results. Preliminary estimates indicate Q2 OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and sales were down by about 30 percent while branded product sales were down only slightly when compared to the immediately preceding quarter, according to the Company. Further details and a forecast for Q3 will be provided at the time final results are available. Separately, the Company confirmed that it will participate in three upcoming investor conferences. Peter van Oppen, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , will make a presentation regarding the Company's strategy and long-term outlook at the JP Morgan H&Q 30th Annual Technology Conference in San Francisco on May 9, 2002, at 11:30 a.m. PT, and Jon Gacek, senior vice president and CFO See Chief Financial Officer. , will present at Baird's 2002 Growth Stock Conference in Chicago on May 9, 2002, at 3:35 p.m. ET, as well as at the CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Annual Electronics Food Chain Conference in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of on May 14, 2002, at 10:50 a.m. ET. The presentations are expected to be available via Webcasts through the Company's website at www.adic.com/ir or the website addresses listed below: May 9, 2002 - 2:30 p.m. ET/11:30 a.m. PT JP Morgan H&Q 30th Annual Technology Conference Westin St. Francis Hotel The Westin St. Francis is a luxury hotel in the Union Square district of San Francisco, California. The hotel opened on March 21, 1904. The interior was destroyed in the 1906 Earthquake but the structure survived and the hotel re-opened in late 1907. , San Francisco, CA Webcast: http://php4.eventsdigital.com/events/jpmhq/tech2002 May 9, 2002 - 3:35 p.m. ET/12:35 p.m. PT Baird's 2002 Growth Stock Conference The Four Seasons Hotel, Chicago, IL May 14, 2002 - 10:50 a.m. ET/7:50 a.m PT CIBC World Markets Annual Electronics Food Chain Conference New York Palace
About ADIC Advanced Digital Information Corporation (Nasdaq:ADIC) is a leading provider of Intelligent Storage(TM) solutions to the open systems marketplace. ADIC is the world's largest supplier of automated tape systems using the drive technologies most often employed for backing up open system, client-server networks.(a) The Company's storage management software and storage networking appliances provide IT managers innovative tools for storing, managing and protecting their most valuable digital assets. ADIC storage products are available through a worldwide sales force and a global network of resellers and OEMs, including Dell, Fujitsu-Siemens, Hewlett-Packard and IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) . (a) IDC 2001 worldwide revenue and unit market share data for all automated systems using DLT (Digital Linear Tape) A magnetic tape technology originally developed by Digital for its VAX line. The technology was later sold to Quantum, which makes it available to other manufacturers. DLT uses half-inch, single-hub cartridges similar to IBM's 3480/3490/3590 line. , SDLT (Super DLT) See DLT. , LTO (Linear Tape Open) A family of open magnetic tape standards developed by HP, IBM and Quantum (formerly the Certance subsidiary of Seagate) that are licensed to third-party vendors. LTO cartridges contain a memory that stores historical usage data. , 8mm or AIT drives. This release contains forward-looking statements relating to the Company's expected revenues, which are based on preliminary financial information and could be adjusted prior to the Company's release of final results for the second quarter of fiscal 2002. Statements of estimates and expectations are always subject to adjustments, risks and uncertainties that could cause actual results to differ materially from those projected. These statements are not guarantees of final results, and they speak only as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. ADIC is a registered trademark of Advanced Digital Information Corporation. All other product or company names should be considered the property of their owners. |
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