Maxtor and Western Digital in profit, Quantum isn't
Hard drive results roundup
The major hard drive players are all releasing their end-2000 financials, and they're a bit of a mixed bag.
After 11 consecutive loss making quarters, Western Digital must have broken out the bubbly after reporting a profit for the quarter ending December 31. On revenues of $530.7 million, a profit of $1.8 million is not to be sniffed at.
The figures were way above the numbers predicted by analysts, and it is worth noting that without an extraordinary gain of $10.6 million, associated with bond redemption, the company would have lost $8.8 million.
Quantum, on the other hand, didn't manage to break into profit, reporting a net loss of $3.3 million on revenue of $191 million in the quarter. It blamed component issues for its low revenues. This impacted sales of its new 20GB desktop models.
However, the supply problems have been solved, they assure us, and volume production is: "currently unrestrained."
With revenues of $2.7 billion, the supply issues that Quantum suffered with were clearly not a problem for Maxtor. It also kept its net figures on the right side of zero, posting profits of $5 million, up $1 million from a year ago.
Both Maxtor and Quantum re-affirmed their commitment to the merger of their respective hard drive arms. Both said that they expected talks would be finished and a deal would be on the table by March or April. ®