| IPO Company Profile |
| Current Quote | News | SEC Filings | Peer IPO Companies | Company's Home Page |
| Maxtor Corporation |
| 510 Cottonwood Drive, Milpitas, CA 95035 * (408) 432-1700 |
| The company is a leading provider of hard disk drive storage products for desktop PC systems. The Maxtor DiamondMax product family consists of 3.5 inch form factor HDDs with storage capacities which range from approximately 2.1 GB to 11.5 GB. |
| Manager | Tier | Phone |
| Salomon Smith Barney | Lead Manager | (212) 723-7300 |
| Hambrecht & Quist Incorporated | Co-manager | (415) 439-3626 |
| Lehman Brothers Incorporated | Co-manager | (212) 526-8100 |
| Merrill Lynch & Co. | Co-manager | (212) 449-4600 |
| Nationsbanc Montgomery Securities, Inc. | Co-manager | (415) 627-2100 |
| NASNTL: | MXTR | High-Tech: | SIC 3572 | |
| Type of Shares: | Common Shares | Filing Date: | 6/5/98 | |
| U.S. Shares: | 47,500,000 | Offer Date: | 7/30/98 | |
| Non-U.S. Shares: | 0 | Filing Range: | $7.00 - $8.00 | |
| Primary Shares: | 47,500,000 | Offer Price: | $7.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.35 | |
| Offering Amount: | $356,250,000 | Selling: | $0.21 | |
| Expenses: | - | Reallowance: | $0.05 | |
| Post-IPO Shares: | - | |||
| Spin out parent firm: | Hyundai Electronics Industries, Co., Ltd. | |||
| Employees: | 9330 | |||
| Issuer's Law Firm: | Gray Cary Ware & Freidenrich |
| Bank's Law Firm: | Cleary, Gottlieb, Steen & Hamilton |
| Auditor: | Ernst & Young |
Dollar amounts in U.S. millions except for per share data | |||||
| 3 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/27/97 | 3/28/98 | 3/29/97 | 3/28/98 | ||
| Revenue: | $1,424.30 | $549.60 | $247.00 | Assets: | $634.60 |
| Net Income: | -$109.90 | -$10.30 | -$55.00 | Curr Assets: | $530.14 |
| EPS: | Liabilities: | $854.50 | |||
| Prior EPS: | $33.64 | -$82.59 | Curr Liab: | $635.16 | |
| Cash Flow/Oper: | -$146.71 | -$38.94 | $82.16 | Equity: | -$219.90 |
| Cash Flow/Fin: | $193.58 | $1.68 | -$11.52 | Cash: | $13.30 |
| Cash Flow/Inv: | -$61.26 | Working Cap: | -$105.02 | ||
| Competition |
| Although the Company's share of the desktop PC segment of the HDD market has increased steadily since the first quarter of 1997, this market segment and the HDD market in general are intensely competitive and characterized by rapid technological change and rates of product and technology obsolescence, dramatic shifts in market share and significant erosion of ASPs, and as such there can be no assurance that the Company will be able to improve on, or prevent the erosion of, the Company's present share of the desktop PC HDD market. The Company presently competes primarily with manufacturers of 3.5-inch HDDs, including Fujitsu, Quantum, Samsung, Seagate and Western Digital, most of which have a larger share of the desktop HDD market than the Company. Other companies, such as IBM, will be significant competitors in one or more of the markets into which the Company plans to expand its product portfolio, and could be significant competitors of the Company in its current market should they choose to commit significant resources to providing HDDs for the desktop HDD market. |
| Business Plan |
| Maxtor seeks to be the dominant provider of HDDs to leading PC OEMs, distributors and retailers. Maxtor's strategy to achieve this goal includes the following elements: (I) Effectively Integrate New Technology, (ii) Leverage Design Excellence, (iii) Capitalize on Flexible Manufacturing, (iv) Increase Market Share With Leading PC OEMs, (v) Maintain Customer Satisfaction and (vi) Broaden Product Portfolio. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to repay indebtedness, for capital expenditures, working capital and for general corporate purposes. |