ADIC Expects Third Quarter Revenue of $108 -- $110 Million; One Million Shares Repurchased During the Period.REDMOND, Wash. -- Advanced Digital Information Corporation (Nasdaq:ADIC) today indicated that revenue for the third quarter ending July 31, 2004 is likely to be between $108 and $110 million compared to $108 million in the same quarter last year and $111 million reported in the preceding second quarter. Chairman and Chief Executive Officer Peter van Oppen noted, "Although not finished closing the accounts, we believe final sales results for the third quarter ended Saturday will be similar to both the same quarter last year and the second quarter this year as anticipated. Based on normal fourth quarter seasonal trends, additional reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. strength and acceptance of new products, we expect our full-year fiscal 2004 sales to grow at a rate in the high single digits." ADIC noted today's updated revenue guidance was issued as a result of Chief Financial Officer Jon Gacek's participation in two investor conferences this week prior to release of final third quarter results next week. Both presentations, scheduled August 3rd and 4th, will be available via webcast. Details are available at www.adic.com/ir. Third quarter financial results are expected to be released after market close on Thursday, August 12th. The conference call discussing third quarter earnings and outlook will follow at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time). A live webcast and replay of the call will be available at the Company's website. Separately, ADIC noted that, pursuant to a previously announced stock buy back program, it had repurchased just over one million shares during the third quarter at an average price of approximately $9.38 per share. 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 au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. tape systems using the drive technologies most often employed for backing up open system, client-server networks.(1) The Company's data management software, storage networking appliances, and disk-to-tape data protection solutions provide IT managers innovative tools for storing, managing and protecting their most valuable digital assets in a variety of disk and tape environments. ADIC storage products are available through a worldwide sales force and a global network of resellers and OEMs, including Cray (Cray, Inc., Seattle, WA, www.cray.com) A supercomputer manufacturer founded in 1972 as Cray Research, Inc., by Seymour Cray, a leading designer of large-scale computers at Control Data. In 1976, it shipped its first computer to Los Alamos National Laboratory. , Dell, EMC (1) (EMC Corporation, Hopkinton, MA, www.emc.com) The leading supplier of storage products for midrange computers and mainframes. Founded in 1979 by Richard J. Egan and Roger Marino, EMC has developed advanced storage and retrieval technologies for the world's largest companies. , Fujitsu-Siemens, HP, 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) and Sun. Further information about ADIC is available at www.adic.com. (1) Market Share: Gartner Dataquest, Tape Automation Systems Market Shares, 2003, F. Yale, April 2004. ADIC and Scalar scalar, quantity or number possessing only sign and magnitude, e.g., the real numbers (see number), in contrast to vectors and tensors; scalars obey the rules of elementary algebra. Many physical quantities have scalar values, e.g. are registered trademarks and Intelligent Storage and iPlatform are trademarks of Advanced Digital Information Corporation. All other trade or service marks mentioned in this document should be considered the property of their respective owners. This release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's future products and services and future operating results that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The words "expect", "anticipate", and similar expressions identify forward-looking statements, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Factors that could affect the Company's actual results include general economic trends, purchase deferrals by customers, technical competition or obsolescence ob·so·les·cent adj. 1. Being in the process of passing out of use or usefulness; becoming obsolete. 2. Biology Gradually disappearing; imperfectly or only slightly developed. , supply constraints CONSTRAINTS - A language for solving constraints using value inference. ["CONSTRAINTS: A Language for Expressing Almost-Hierarchical Descriptions", G.J. Sussman et al, Artif Intell 14(1):1-39 (Aug 1980)]. , changes in market pricing and production problems. Reference is made to the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended October 31, 2003 for a more detailed description of factors that could affect the Company's actual results. Readers are cautioned not to place undue reliance on these forward-looking statements, which 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. |
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