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Maxtor turns in Q4 loss on declining sales

Disk drive maker Maxtor reported a worse-than-expected loss for its fourth quarter, on declining revenue - problems its top officer says are related to a cost structure that is too high.

Revenue for the fourth quarter fell nearly 12 percent to $1.031 billion, compared with $1.17 billion for the same quarter a year earlier.

Read the complete story. (CRN)