Adaptec announces acquisition charge.MILPITAS, Calif.--(BUSINESS WIRE)--April 15, 1997--Adaptec (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADPT ADPT Automated Data Processing/Telecommunications ADPT Adaptec Corporation (stock symbol) ADPT Adaptive Prediction ADPT Auger Depth Profiling Technique ADPT Automated Data Processing Telecommunications ADPT Adapter ) announced today that it has completed its preliminary evaluation of the allocation of the purchase price to the assets acquired in association with its recently announced acquisitions of CD-Recordable software technology (Toast) and Skipstone Inc. These two acquisitions will be accounted for under the purchase accounting method. Accordingly, a one-time non-tax deductible That which may be taken away or subtracted. In taxation, an item that may be subtracted from gross income or adjusted gross income in determining taxable income (e.g., interest expenses, charitable contributions, certain taxes). charge to earnings aggregating approximately $0.08-$0.12 per share will be recorded during the company's fourth fiscal quarter, ended March 31, 1997, for the in-process research and development acquired. About Adaptec Adaptec provides bandwidth management Controlling the traffic flow in a network. See bandwidth manager. technologies for organizations building the global information infrastructure. Its high performance I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output , connectivity, and network products are incorporated into the systems and products of major computer and peripheral manufacturers. Founded in 1981 and headquartered in Milpitas, Adaptec (NASDAQ:ADPT) employs 3,000 people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is http://www.adaptec.com . CONTACT: Adaptec Inc., Milpitas Paul G. Hansen, 408/945-8600 Christopher G. O'Meara, 408/945-8600 |
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