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Short Take: Read-Rite's revenues fall short

Read-Rite announced yesterday that first quarter sales and profits will fall below analysts' expectations, largely due to a product transition. The hard disk drive maker said its revenues are expected to reach $261 million for the quarter ended December 28, compared with revenues of $251.6 million a year ago. The company said its charge for a write-off of its inductive technologies will be larger than the previously expected charge of $30 million for the quarter.

Dawn Kawamoto Former Staff writer, CNET News
Dawn Kawamoto covered enterprise security and financial news relating to technology for CNET News.
Dawn Kawamoto
announced yesterday that first quarter sales and profits will fall below analysts' expectations, largely due to a product transition. The hard disk drive maker said its revenues are expected to reach $261 million for the quarter ended December 28, compared with revenues of $251.6 million a year ago. The company said its charge for a write-off of its inductive technologies will be larger than the previously expected charge of $30 million for the quarter.