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Technology Stocks : Maxtor (MXTR) -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (369)	12/16/1999 4:24:00 PM
From: James Calladine	Read Replies (1) \| Respond to of 467

IMPROVED EARNINGS COMING! Maxtor Fourth Quarter Results to be Significantly Better Than Previously Expected MILPITAS, Calif., Dec. 16 /PRNewswire/ -- Maxtor© Corp. (Nasdaq: MXTR - news) today announced that results for its fourth fiscal 1999 quarter will be significantly better than previously anticipated and significantly better than its third quarter results. The company currently expects to report a net loss per share of $.18 or less, compared to street consensus for the fourth quarter of a net loss of $.45 per share. Unit shipments and revenue will also be up significantly from the 5.9 million units and $589 million in sales it reported for the third fiscal quarter. The company is experiencing strong demand for its products and has been shipping its new 9.1 GB and 10.2 GB per disk products in high volume for most of the quarter. In addition, the company is benefiting from the price increases it initiated earlier in the quarter. ``Maxtor is well positioned to take advantage of the strong demand we are seeing in the fourth quarter,' said Mike Cannon, Maxtor's president and CEO. ``The volume availability of our new products and our track record as a highly dependable supplier have earned us the opportunity for volume upsides from many of our customers this quarter. ``We continue to believe that Maxtor is best positioned to deliver strong results when industry conditions moderate. The results we expect to deliver for the fourth quarter are evidence of that ability,' said Cannon.