Quantum DLT Group Issues Warning on December Quarter; After-Hours Trading Update

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Quantum DLT & Storage Systems Group

(DSS) - Get Report

warned that sales and earnings for its third quarter ending December will be "relatively flat" with year-ago figures, citing a Y2K-related slowdown and slower sales to a large customer. The 12-analyst

First Call/Thomson Financial

estimate calls for third-quarter earnings of 41 cents a share; year-ago figures weren't immediately available. The company also said it expects to report second-quarter earnings of 34 cents a share on sales of $357 million. Those earnings would match the current estimate.

After-Hours Markets




finally caught a bit of a break after hours, rising in the No. 3 volume position on

Island ECN

. Two of today's standout IPOs saw some upside action as well, but overall the late session was sleepy.

Island ECN offers trading, mainly in Nasdaq-listed stocks, from 8 a.m. to 8 p.m. EDT


In other postclose news (earnings estimates from First Call/Thomson Financial; earnings reported on a diluted basis unless otherwise specified):


Tarrant Apparel

(TAGS) - Get Report

said it plans to close a sewing and finishing plant in Greenwood, Miss., and relocate its operations to Mexico, eliminating 250 jobs. The plant will close around the end of November.

Destia Communications

(DEST) - Get Report

said CFO Phillip Storin resigned to return home to Texas. Destia also said its previously announced merger with



should close by the end of the year.


(STK) - Get Report

settled all patent litigation with



. Under the settlement terms, StorageTek will pay Odetics license fees of $100 million, $80 million of which was paid at the time of settlement with the remainder to be paid in installments of $10 million in each of the next two years. StorageTek said it will record third-quarter pretax expenses of $15.5 million for the settlement.

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