Maxtor swings to loss for first quarter

The hard-drive maker posted revenue of $1.07 billion, up from $1.02 billion a year ago. But charges including $13.9 million for severance payments to laid-off workers in the U.S. and Singapore, and the termination of a product line, pushed the company to a loss of $24.2 million, or 10 cents a share. A year ago, Maxtor posted a profit of $8.9 million, or 3 cents a share.

Read the complete story . (TheStreet.com)

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