Maxtor swings to loss for first quarter

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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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Wolfgang Gruener
Wolfgang Gruener
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Wolfgang Gruener is an experienced professional in digital strategy and content, specializing in web strategy, content architecture, user experience, and applying AI in content operations within the insurtech industry. His previous roles include Director, Digital Strategy and Content Experience at American Eagle, Managing Editor at TG Daily, and contributing to publications like Tom's Guide and Tom's Hardware.