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Adaptec Lowers Outlook

MILPITAS, Calif. -- Adaptec, Inc. (NASDAQ:ADPT - News), a global leader in storage solutions, today reported preliminary results for the third quarter of fiscal 2007 that are lower than the ranges projected during the Company's second quarter earnings conference call on October 30, 2006.

The Company expects revenue of approximately $60.0 million to $61.0 million and a loss per share from continuing operations, computed on a Generally Accepted Accounting Principles (GAAP) basis, of approximately $(0.08) to $(0.05) for the third quarter of fiscal 2007. The Company expects a non-GAAP loss per share from continuing operations of approximately $(0.05) to $(0.02) for the third quarter of fiscal 2007. GAAP loss per share differs from non-GAAP loss per share in that the GAAP loss per share includes approximately $1.5 million of amortization expense and approximately $2.5 million related to FAS 123(R) compensation expense.

Adaptec Inc.