QUANTUM CORP <QNTM.O> TO TAKE 3.5 MLN DLR CHARGE
quantum corp said it will take
a charge of about 3,500,000 dlrs due to a decision to
discontinue its Q160 160 megabyte disk drive, causing a loss
for the first quarter ending June 28.
    The company said it expects higher revenues for the period,
however.  Quantum earned 22.2 mln dlrs on revenues of 121.2 mln
dlrs in last year's first quarter.
    Quantum said it will eliminate 29 staff positions as a
result of the cancellation of the Q160 and the redirection of
product development efforts.
    The company said it is modifying plans and projects to
concentrate on its core disk drive business and on the
development of higher performance low-cost smaller drives,
particularly 3-1/2 inch drives.
 Reuter
