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BUSINESS
August 9, 1994 | ROSS KERBER, TIMES STAFF WRITER
Shares of Pinnacle Micro Inc.--buffeted last week by a delay of second-quarter results--continued their slide Monday, falling $1.50 to $11.75, as the computer data storage company revised its 1993 earnings and revenue to correct what it described as an accounting error. Pinnacle Micro said that about $2 million of the $39.2 million it reported as revenue last fiscal year should have been counted as revenue for the current year's first quarter, which ended March 31.
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BUSINESS
June 22, 2002 | From Times Wire Services
Two technology titans, PC maker Dell Computer and cell phone giant Qualcomm Inc., said Friday that they expected to meet or beat earnings projections in the current quarter. But Maxtor Corp., the world's biggest computer disk drive maker, said it expected a wider-than-forecast second-quarter loss and lowered its sales estimate, blaming price cuts and less demand Dell spokesman Mike Maher said the No.
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BUSINESS
October 17, 1989 | David Olmos, Times staff writer
Western Digital Corp. said it sold more than 1 million 3 1/2-inch computer disk drives in the past year--a strong showing by the Irvine company, which acquired Tandon Corp.'s disk drive manufacturing business in early 1988. Disk drives, used in personal computers, store data on rigid platters. The market for the devices is burgeoning. Western Digital assembles the disk drives in Singapore.
BUSINESS
July 14, 2000 | Reuters
Convolve Inc., a privately held company based in New York, said it and the Massachusetts Institute of Technology filed suit against Compaq Computer Corp. and Seagate Technology Inc., charging patent infringement of computer disk drive technology. Convolve is seeking at least $800 million in damages and a permanent injunction barring Compaq and Seagate from manufacturing or selling disk drives or computers incorporating Seagate's "Sound Barrier Technology."
BUSINESS
April 20, 1993 | From Times Staff and Wire Reports
Seagate and Corning in Disk Drive Deal: Seagate Technologies, a leading vendor of disk drives for computer storage, said it would begin using a new ceramic-glass material developed by Corning Inc. to build better disk drives. Normally, the disks used in computer disk drives are made of aluminum, but Seagate said the new material represents a major technological advance that will enable it to use thinner disks with greater data-storage capacity.
BUSINESS
August 26, 1999 | Bloomberg News
Komag Inc., the leading maker of disks used in computer disk drives, said it will cut almost half of its remaining U.S. work force and will shift manufacturing to Malaysia to reduce costs. Komag will close two plants in San Jose, where the company is based, and cut its U.S. work force to 570 from 1,050. Komag will take a significant charge in its fiscal third quarter ending Oct. 3. Last month, Komag said it would slash 500 U.S.
BUSINESS
November 8, 1997 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
Western Digital Corp.'s stock plunged Friday after the disk drive maker said price-cutting throughout the industry will push its quarterly profit far below Wall Street estimates. The Irvine company's disappointing earnings projections for its second fiscal quarter also drove down prices of several rivals, including Quantum Corp. and Seagate Technology Inc. Western Digital's stock tumbled more than 22%, or $6.63 a share, to $23.63. Quantum dropped $5.38 to $30.19 a share, while Seagate fell $1.
BUSINESS
August 26, 1999 | Bloomberg News
Komag Inc., the leading maker of disks used in computer disk drives, said it will cut almost half of its remaining U.S. work force and will shift manufacturing to Malaysia to reduce costs. Komag will close two plants in San Jose, where the company is based, and cut its U.S. work force to 570 from 1,050. Komag will take a significant charge in its fiscal third quarter ending Oct. 3. Last month, Komag said it would slash 500 U.S.
BUSINESS
July 21, 1999 | JONATHAN GAW, TIMES STAFF WRITER
Charles A. Haggerty, who guided one of the world's largest computer disk drive manufacturers, Western Digital Corp., through periods of explosive growth followed by a devastating slump, said Tuesday that he will retire by next June. The Irvine company said it has launched a search for a successor and simultaneously announced a management restructuring to streamline decision making and make Western more customer-oriented.
BUSINESS
October 26, 1998 | JONATHAN GAW
Irvine-based Western Digital Corp., coming off its worst quarterly earnings report ever, will unveil its latest hard drive for personal computers today as it gains ground on rivals in the race to be first to market. The newest in the Caviar line holds 13 gigabytes of data and is the fourth drive Western Digital has produced using magnetoresistive technology, which allows for higher capacities with fewer components.
BUSINESS
September 9, 1998 | From Reuters
International Business Machines Corp. will unveil the world's smallest and lightest disk drive Wednesday--a potential boon to the digital camera market and other consumer electronics devices with increasing demands for data storage.
BUSINESS
June 10, 1998 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
Reeling from plummeting prices and lower sales, Western Digital Corp. warned Tuesday that its fiscal fourth-quarter earnings will fall far below Wall Street expectations, forcing the Irvine disk drive maker to make more staff cuts. If the losses materialize as expected, the company said it also could fall into technical default on one of its bank credit lines. Western Digital said it expects an operating loss of more than $100 million, or in excess of $1.13 a share.
BUSINESS
January 24, 1998 | JAMES S. GRANELLI, TIMES STAFF WRITER
A state appellate court on Friday reinstated a major Los Angeles law firm that had been disqualified last year from defending Western Digital Corp. in a $186-million lawsuit. A three-judge panel of the state Court of Appeal found that Irell & Manella had not committed any ethical transgressions to warrant its dismissal from a case it had worked on for more than five years. "We're very happy to be back," said Irell partner Andra B. Greene.
BUSINESS
September 9, 1998 | From Reuters
International Business Machines Corp. will unveil the world's smallest and lightest disk drive Wednesday--a potential boon to the digital camera market and other consumer electronics devices with increasing demands for data storage.
BUSINESS
November 8, 1997 | P.J. HUFFSTUTTER, TIMES STAFF WRITER
Western Digital Corp.'s stock plunged Friday after the disk drive maker said price-cutting throughout the industry will push its quarterly profit far below Wall Street estimates. The Irvine company's disappointing earnings projections for its second fiscal quarter also drove down prices of several rivals, including Quantum Corp. and Seagate Technology Inc. Western Digital's stock tumbled more than 22%, or $6.63 a share, to $23.63. Quantum dropped $5.38 to $30.19 a share, while Seagate fell $1.
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