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July 03, 1998|Bloomberg News

* Adaptec Inc. said it will take charges totaling $65 million to $75 million, or 55 cents to 60 cents a share, for acquisitions in its fiscal first quarter ending today. Adaptec makes adapter cards that plug personal computers into networks. The Milpitas-based company said the charges will be for research and development it acquired from Ridge Technologies Inc. and Analog Devices Inc. Adaptec will also pay Analog up to $20 million in royalties from sales of adapter cards that use the technology. Adaptec reported profit below analysts' expectations in the fourth quarter as sales of its cards plunged 20%. Adaptec shares rose 13 cents to close at $14 on Nasdaq. The company made the announcement after the close of trading.

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