<PAGE> 1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JUNE 21, 1996
COMMISSION FILE NUMBER 0-25796
STORMEDIA INCORPORATED
(Exact name of registrant as specified in its charter)
DELAWARE 77-0373062
(State or other jurisdiction (I.R.S. Employer
of incorporation or Identification
organization) Number)
390 REED STREET, SANTA CLARA, CALIFORNIA 95050-3118
(Address of principal executive offices)
(Zip Code)
(408) 327-8400
(Registrant's telephone number, including area code)
================================================================================
<PAGE> 2
ITEM 5. OTHER EVENTS
The information which is set forth in the Registrant's News Releases
dated June 21, 1996 and June 24, 1996, respectively, is incorporated herein by
reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Text of Press Release dated June 21, 1996.
99.2 Text of Press Release dated June 24, 1996.
-2-
<PAGE> 3
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 17, 1996 STORMEDIA INCORPORATED
/s/ Judith M. O'brien
-------------------------------------
Judith M. O'Brien
Secretary
-3-
<PAGE> 4
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
Sequentially
Numbered
Exhibit Description Page
- ------- ----------- ----
<S> <C> <C>
99.1 Text of Press Release dated 5
June 21, 1996
99.2 Text of Press Release dated 6
June 24, 1996
</TABLE>
-4-
<PAGE> 1
EXHIBIT 99.1
[STORMEDIA LOGO]
For Immediate Release For Further Information Contact:
Henry Lo (408) 327-8281 (Treasurer)
STORMEDIA INCORPORATED
SANTA CLARA, California -- (PR NEWSWIRE) -- June 21, 1996 -- StorMedia
Incorporated (NASDAQ/NMS: STMD) today announced that Maxtor Corporation, a
wholly-owned subsidiary of Hyundai Electronics of America, has advised the
company that Maxtor is experiencing significant business problems and are
reducing their volumes. Maxtor is assessing its need for media, and StorMedia
is working with Maxtor within the framework of the purchase contract between
the two companies and intends to enforce its rights thereunder.
StorMedia Incorporated is a leading independent supplier of thin film
disks for hard disk drives used in portable and desktop computers. The company
designs, develops, manufactures and sells disks in 2-1/2 and 3-1/2 inch sizes.
Within each size, the company provides a range of coercivities (magnetics), fly
heights and disk thicknesses to meet specific customer requirements. The
company sells its disks primarily to Seagate Technology, Inc. and Maxtor
Corporation.
###
<PAGE> 1
EXHIBIT 99.2
[STORMEDIA LOGO]
For Immediate Release For Further Information Contact:
Henry Lo (408) 327-8281 (Treasurer)
STORMEDIA INCORPORATED
STORMEDIA FORECASTS O2 EARNINGS BELOW ANALYSTS' ESTIMATES
SANTA CLARA, California -- (PR NEWSWIRE) -- June 24, 1996 -- StorMedia
Incorporated (NASDAQ/NMS: STMD) today announced that it expects sales and
earnings for its second quarter ending June 28, 1996, to fall below analysts'
expectations due primarily to reduced sales volumes and delayed delivery
schedules with Maxtor Corporation.
The company expects sales for the second quarter ending June 28, 1996
to range from $55 million to $60 million and earnings to range from $0.40 to
$0.50 a share on a fully diluted basis.
The consensus earnings per share estimate for the quarter is $0.54 a
share, according to First Call. The company earned $0.26 a share during the
same quarter of 1995 on a split adjusted basis on sales of $34.7 million.
StorMedia Incorporated is a leading independent supplier of thin film
disks for hard disk drives used in portable and desktop computers. The company
designs, develops, manufactures and sells disks in 2-1/2 and 3-1/2 inch sizes.
Within each size, the company provides a range of coercivities (magnetics), fly
heights and disk thicknesses to meet specific customer requirements. The
company sells its disks primarily to Seagate Technology, Inc. and Maxtor
Corporation.