All
Does anybody know "Chainsaw Al" running this company?
I like the financial results.
Alex
Maxtor Announces Second Quarter 1998 Financial Results
MILPITAS, Calif. - July 20, 1998 - Maxtor Corp. today announced revenues of $531.3 million and net
income of $5.4 million - including a $4.7 million credit for stock compensation expenses - for its second
fiscal quarter of 1998, ended June 27. This is compared to revenues of $283.1 million and a net loss of
$46.6 million for the same quarter one year ago.
"This was a very difficult quarter for the hard disk drive industry," said Maxtor President and CEO
Mike Cannon. "Despite this environment, Maxtor increased unit shipments and gross margin for the
sixth consecutive quarter," he added.
Maxtor reported total drive shipments of 3.74 million units for the quarter, an increase of seven
percent over last quarter. Additionally, Maxtor improved gross margins to 11.8 percent.
During the past year, Maxtor has received numerous industry awards for its disk drive products.
Most recently, the DiamondMax 2160 8.4 GB drive was awarded the World Class Award from PC
World Magazine for the year's best hard disk drive. Maxtor products also took top honors in two of
three categories in a recent Byte Magazine hard disk drive roundup.
Maxtor Corp. develops, manufactures and markets high-performance hard disk drives for desktop
computer systems. Headquartered in Milpitas, Calif. Maxtor is a wholly owned, independently
operated subsidiary of Hyundai Electronics America. For more information about Maxtor, visit the
company's web site at maxtor.com.
# # #
For more information, please
contact Maxtor Corporation:
Doyle Albee - 303-678-2405 |
