Feeds

Maxtor gets over hard time

Profit! Red blood disappears!

  • alert
  • submit to reddit

Security and trust: The backbone of doing business over the internet

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

New hybrid storage solutions

More from The Register

next story
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.