10.299.2005 - Maxtor Reports Third Quarter Financial Results

MILPITAS, CA, October 26, 2005 - Maxtor Corporation (NYSE: MXO) today announced its financial results for the third quarter ended October 1, 2005. Revenue for the recent third quarter was $926 million. The Company reported a net loss of $17 million, or $(0.07) per share, for the third quarter of 2005. Included in the net loss was an additional $4.2 million in severance expense primarily related to the previously-announced reduction in force in Singapore, $1.9 million related to the write-off of unamortized bond issuance costs due to the repurchase of approximately $94 million in debt in August 2005 and $1.4 million in prepaid interest charges for mortgages that were repaid in September 2005. In the third quarter of 2004, revenue totaled $927 million. The Company reported a net loss of $95.1 million, or $(0.38) per share, for the third quarter of 2004. - View Press Release - Visit Maxtor Corporation