March 5, 2005 |
Maxtor Corp., which makes computer disk drives, will eliminate 5,500 jobs in Singapore as it closes a factory there and shifts some production to China. The Milpitas, Calif., company said that more than half the cuts, or about 20% of its workforce, would be through firings, according to a Securities and Exchange Commission filing. The company also said the severance packages were expected to lower first-quarter earnings by $12 million. Shares of Maxtor rose 10 cents to $5.
October 22, 2003 |
Seagate Technology, the world's biggest maker of computer disk drives, said fiscal first-quarter profit rose 80% on higher sales of devices used in personal and laptop computers. No. 2 Maxtor Corp. showed a third-quarter profit as sales jumped 30%. Seagate's net income in the quarter grew to $198 million, or 40 cents a share, from $110 million, or 24 cents, a year earlier, the company said. Sales rose 10% to $1.74 billion. Maxtor's net income was $29.
December 10, 2002 |
Maxtor Corp. fired 500 workers, or about 4% of its workforce, but said its fourth-quarter sales and profit would exceed prior forecasts. Sales in the quarter ending Dec. 28 will reach $990 million to $1.03 billion, the maker of computer disk drives said. Profit before expenses relating to an acquisition and the job cuts is expected to be $25 million to $35 million, or 10 to 14 cents a share. Shares of Milpitas, Calif.-based Maxtor rose as high as $5.45 in extended trading. They closed at $4.
June 22, 2002 |
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.
October 11, 2000 |
Seagate Technology Inc., the world's largest computer hard-drive maker, reported Tuesday that its fiscal first-quarter earnings topped Wall Street analysts' expectations, but warned that parts shortages could hamper growth in the months ahead. The Scotts Valley, Calif.-based company, which is being taken private, reported a profit of $62 million, or 26 cents a share, for the quarter ended Sept. 29, compared with 7 cents a share a year ago. Sales rose 4%, to $1.75 billion.