05.124.2005 - Maxtor Corporation Reports First Quarter 2005 Results

MILPITAS, Calif., May 4, 2005 -- Maxtor Corporation (NYSE: MXO) today announced its financial results for the first quarter ended April 2, 2005. Revenue for the quarter was $1.070 billion. The Company reported a net loss in the first quarter of 2005 of $24.2 million, or $(0.10) per share. Included in the net loss were a $4.9 million charge related to the termination of the Company's 2.5-inch drive program and $13.9 million in severance-related charges associated with the reduction in force in the U.S. and in Singapore. In the first quarter of 2004, revenue totaled $1.020 billion. Net income was $8.9 million, or $0.03 per diluted share. - View Press Release - Visit Maxtor Corporation