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Short Take: Adaptec sees large first-quarter merger charge

Adaptec said it expects to take a first-quarter acquisition charge of between $65 million and $70 million. In a statement, the company said the one-time after-tax charge, for in-process research and development from its acquisitions of Ridge Technologies and certain technologies from Analog Devices, will reduce earnings by between 55 cents a share and 60 cents a share for the quarter ending July 3.

Adaptec said it expects to take a first-quarter acquisition charge of between $65 million and $70 million. In a statement, the company said the one-time after-tax charge, for in-process research and development from its acquisitions of Ridge Technologies and certain technologies from Analog Devices, will reduce earnings by between 55 cents a share and 60 cents a share for the quarter ending July 3.