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Short Take: SmartDisk releases earnings warning

SmartDisk, which specializes in high-speed disk drives and external storage devices for Macs and PCs, says its financial outlook for the quarter will be worse than expected because of nonrecurring charges and diminished demand for Apple Computer-based products. Excluding nonrecurring charges, the Naples, Fla.-based company now expects to report a loss of 20 cents to 30 cents a share. "As we indicated when we released our third-quarter results, Apple is in the midst of a difficult business cycle, which in turn is hurting SmartDisk's personal storage product sales," Michael Battaglia, chief executive of SmartDisk, said in a statement.

SmartDisk, which specializes in high-speed disk drives and external storage devices for Macs and PCs, says its financial outlook for the quarter will be worse than expected because of nonrecurring charges and diminished demand for Apple Computer-based products. Excluding nonrecurring charges, the Naples, Fla.-based company now expects to report a loss of 20 cents to 30 cents a share. "As we indicated when we released our third-quarter results, Apple is in the midst of a difficult business cycle, which in turn is hurting SmartDisk's personal storage product sales," Michael Battaglia, chief executive of SmartDisk, said in a statement.