In what also looks like fallout from Seagate Technology’s oversupply problems, Micropolis Corp stock slid $2.75 to $8.25 Friday after the company warned that it expects to report a substantial operating loss and a new loss for the third quarter compared with profit of $7m on sales of $75.2m a year ago. The Chatsworth, California […]
In what also looks like fallout from Seagate Technology’s oversupply problems, Micropolis Corp stock slid $2.75 to $8.25 Friday after the company warned that it expects to report a substantial operating loss and a new loss for the third quarter compared with profit of $7m on sales of $75.2m a year ago. The Chatsworth, California firm blames decreased demamd and lower prices for its 85Mb and 170Mb drives, high costs associated with the 380Mb drive, and intensive price competition, and says it anticipates market conditions will remain adverse over the near term, affecting operating results through the fourth fiscal quarter and into fiscal 1989.
