Legit News
Margins Drive Maxtor Stock Shares Lower
Weak gross margins pushed hard-drive maker Maxtor (MXO) into a disappointing third quarter, despite a 10% increase in unit sales. Shares of Maxtor were trading down $0.05 cents or -1.36% to $3.64 at the closing bell as a result of the news. Maxtor shares have dropped nearly a full dollar in October.
And the end of the company's hard times is not yet in sight. Maxtor is late to market with new, high-capacity drives and instead of the expected fourth-quarter profit, Maxtor forecast a substantial loss. The Milpitas, Calif.-based company on Wednesday said it lost $17 million, or 7 cents a share, compared with a loss of $95 million, or 38 cents a share, in the same quarter of 2004. Revenue was off slightly to $926.5 million vs. $927.2 million last year.
Posted by | Thu, Oct 27, 2005 - 12:36 AM
Search
Hot Topics
- when do the SATA III @6Gb/s hard drives come out?
- CPU Core Temps!
- Nvidia Tools
- What would be the max recomended video card for e8500
- Nvidia's fermi
- How to print my daughters’cell phone text messages out?
- friend needs help
- How to convert and edit video/audio files for iPod
- Problem installing XP
- Logitech MX 1100 Cordless Laser Mouse $19.99 after MIR