Feeds

Adaptec credit outlook worsens

Says it will be more cautious

  • alert
  • submit to reddit

Reducing security risks from open source software

Standard and Poor’s has marked down Adaptec’s credit rating from “stable” to “negative outlook”. The credit agency concluded that sustained weak margins or diminished financial flexibility could lead to lower ratings next year. Adaptec says that the change in outlook is due to challenges inherent in its business realignment programme and the tough competition in the market. The company's corporate credit rating stayed at a double B plus, and its debt rating held on to its double B minus. This shows financial flexible finances offset by a narrow business base, according to Adaptec. Adaptec has the largest market share for SCSI chips and adapter cards, but says sales have been hit by a shift to cheaper PCs, and the squeeze on margins at the higher end of the market. LSI Logic's acquisition of Symbios also increases the levels of competition in the market. The company says it will be more cautious in its approach to growth and will focus on its core businesses and well-established markets. Meanwhile, a number of senior managers have left the company. ®

Eight steps to building an HP BladeSystem

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.