Feeds

Maxtor gets over hard time

Profit! Red blood disappears!

  • alert
  • submit to reddit

The essential guide to IT transformation

Maxtor Corp delivered surprisingly upbeat financials for the third quarter, reporting net income of $6.1 million as opposed to a $31.4 million loss last time. Revenues were up 53 per cent to $599.7 million and shipments grew by 15 per cent to 4.3 million from the second quarter. The disk drive manufacturer is majority-owned by Korea’s Hyundai Electronics Industries which floated Maxtor last year to raise cash after taking it private only two years previously. CEO and president Mike Cannon is a former IBM luminary and he joined Maxtor in 1996, performing a remarkable turnaround at the beleaguered company, focusing single-mindedly on desktop products and key OEM customers like Dell, IBM and Compaq. He said the industry is going through a challenging period but that, “Maxtor distinguished itself by increasing gross margins… and demand for products was strong, especially from our OEM customers.” The company is getting leadership products to market early and into volume production quickly, said Cannon, adding: “Our rigour in maintaining commonality in core technologies across product lines and our flexible, cell-based manufacturing strategy have contributed to our time-to-market and time-to-volume.” Cannon commented that conditions in the desktop hard disk drive industry appeared to improve during the quarter, with company-held and channel inventories down across the industry and pricing pressures easing off towards the end of the quarter. ® Click here for more storage

Build a business case: developing custom apps

More from The Register

next story
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Premier League wants to PURGE ALL FOOTIE GIFs from social media
Not paying Murdoch? You're gonna get a right LEGALLING - thanks to automated software
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Online tat bazaar eBay coughs to YET ANOTHER outage
Web-based flea market struck dumb by size and scale of fail
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
Ballmer quits Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.