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Exabyte blames Y2K for Q1 woes

Exabyte blames Y2K for Q1 woes

Blaming a sales slowdown related to year 2000 issues, Exabyte yesterday warned it will suffer a larger than expected first-quarter loss.

The Colorado-based company will lose $13 million to $14 million, or 58 cents to 62 cents per share, the company said in a statement. According to First Call, Exabyte's expected loss is 40 cents per share.

Exabyte will release its official earnings on April 12.

Sales hit $50 million in the first quarter of 2000, dropping from $62.65 million during the same period in 1999. The sales decline manifested itself in Exabyte's 8mm and Mammoth tape drive lines, as well as its DLTtape automation line, the company said.

However, sales of its M2 drives and media and automation products increased. Exabyte said the M2 line accounted for $US14 million of its total sales in the first quarter, up from $2 million in the fourth quarter.


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