Earnings Call Excerpt
Maxtor Corporation (MXO)
Q4 2005 Earnings Conference Call
January 31st 2006, 5:00 PM.
Executives:
Jenifer Kirtland, Investor Relations
Mike Wingert, President and Chief Operating Officer
Duston Williams, Chief Financial Officer
C.S. Park, Chairman and Chief Executive Officer
Unidentified Corporate Speaker, Maxtor Corp
Analysts:
Rich Kugele, Needham & Company
Andrew Neff, Bear Stearns
Paul Mansky, Citigroup
Mark Moskowitz, J.P. Morgan
Stephen Weiss, Analyst
Keith Bachman, Banc of America Securities
Harry Blount, Lehman Brothers
Naveen Bobba, Bear Stearns
Mark Miller, Hoefer & Arnett
Phillip Roe, Susquehanna
Andrew Neff, Bear Stearns
Shelby Seyrafi, Kaufman Brothers
Paul Manski, Citigroup
Presentation
Operator
Good afternoon. At this time I would like to welcome everyone to the Maxtor Corporation Fourth Quarter Earnings Conference Call. Operator Instructions I would now like to turn the call over to Miss Jenifer Kirtland. Please go ahead, ma’am.
Jenifer Kirtland, Investor Relations
Before we begin, I would like to remind you that we will be making forward-looking statements in both prepared remarks and in answers to questions. These remarks will include comments on product development, media procurement and manufacturing strategy and outlook on our first quarter financial results and comments related to our proposed acquisition by Seagate Technology. These statements are based on current expectations and are subject to risks and uncertainties, which could materially affect the company's results.
These risks include but are not limited to market demand for hard disk drives, the company's ability to execute future production ramps and product qualifications, changes in product and customer mix, the availability of components, actions of competitors, the overall pricing environment, the company's ability to utilize its manufacturing assets efficiently, changes in the competitive position of the company's key customers, general economic and industry conditions, the impact of the announced transaction between Maxtor and Seagate on current customer demand prior to the closing of the transaction, the possibility that Seagate's pending acquisition of Maxtor will not be consummated on a timely basis or at all, and the possibility of the combination of Seagate and Maxtor will not provide the anticipated benefits to the combined company.
More details on these factors and other factors, which could cause actual results to differ materially are contained in registration statements and reports that the company has filed with the SEC, including Maxtor's most recent Forms 10-K, 10-Q's and S-3 as well as the joint proxy statement prospectus on Form S-4 that Seagate will be filing with the SEC. We undertake no obligation to update our forward-looking statements to reflect subsequent events or circumstances. Portions of the subject matter discussed in the call to follow, related to the proposed transactions between Seagate and Maxtor will be addressed in the joint proxy statement prospectus.
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