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Technology Stocks : Seagate Technology

STX 259.14

+2.1%

Nov 19 4:00 PM EST

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To: TechMeister who wrote (5281)	7/21/1998 12:27:00 AM
From: DJBEINO	Read Replies (1) of 7841

Maxtor reports higher Q2 revenue and income MILPITAS, California, July 20 - Maxtor Corp, a subsidiary of Hyundai Electronics America, said on Monday its second quarter net income was $5.4 million, compared to a net loss of $46.6 million during the same period a year ago. Maxtor said in a statement revenues totalled $531.3 million compared to $283.1 million previously. The second quarter earnings for 1998 included a $4.7 million credit for stock compensation expenses, the company said. ''This was a very difficult quarter for the hard disk drive industry,'' said Maxtor president and chief executive officer, Mike Cannon. Maxtor said its drive shipments totalled 3.74 million units during the quarter, an increase of seven percent over last quarter. Additionally, Maxtor said it improved gross margins to 11.8 percent. Hyundai Electronics America is a subsidiary of Korea's Hyundai Electronics (00660.KS). biz.yahoo.com

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