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Short Take: Exabyte expects revenue, earnings drop

Exabyte announced that revenue and earnings for the second quarter ended July 4 will be below analyst expectations. While results for the quarter will not be finalized until next week, Exabyte believes that revenue will be approximately $70 million, gaining a very modest profit. Comparable results for the second quarter of 1997 show revenue of $97 million, with a net income of about $1 million.

Exabyte announced that revenue and earnings for the second quarter ended July 4 will be below analyst expectations. While results for the quarter will not be finalized until next week, Exabyte believes that revenue will be approximately $70 million, gaining a very modest profit. Comparable results for the second quarter of 1997 show revenue of $97 million, with a net income of about $1 million.