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

To: Sam who wrote (1)	7/28/1998 7:45:00 PM
From: xamir	Respond to of 467

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