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7/24/2003

Three firms show profit for quarter

The Daily Times-Call

THOUSAND OAKS, Calif. — Biopharmaceutical company Amgen reported adjusted total revenue of $2.04 billion for the second quarter of 2003. Adjusted net income for the quarter was $653 million, or 49 cents per diluted share, a 29 percent increase over the same quarter a year ago.

Second quarter 2002 adjusted net revenue was $1.25 billion, and net income was $412.4 million, or 38 cents per adjusted share.

According to a statement announcing the earnings, it was the first time in Amgen’s history that the company reported quarterly revenue topping the $2 billion mark.

Total product sales during the quarter increased 72 percent over the same quarter the previous year.

For the first two quarters of 2003, Amgen reported revenue of $3.8 billion, compared with $2.3 billion for the first two quarters of last year.

Adjusted net income for the first six months of this year was $1.2 billion, or 91 cents per diluted share, compared with $753 million, or 70 cents per share, during the same period last year.

Amgen employs more than 600 at its facility in Longmont.


MILPITAS, Calif. — Hard-drive maker Maxtor Corp. has reported a net profit for the most recent quarter, an improvement over the same period a year ago.

The company’s net revenue for the quarter was $910.9 million, compared with $885.4 million for the same period a year ago.

Net income for the second quarter of 2003 was $6.2 million, or 3 cents per share, compared with a net loss of $103.3 million, or 43 cents per share.

“We are pleased with our second quarter financial results, which were achieved during the seasonally weakest quarter of the year for the industry,” Paul Tufano, president and chief executive officer, said in a statement.

For the first six months of 2003, net revenue was $1.85 billion, with net income of $33.6 million or 14 cents per diluted share.

Over the first six months of last year, Maxtor had reported net revenue of $1.92 billion, but a net income loss for the period of $158.6 million, or 67 cents per share.

“Maxtor is well-positioned as we enter the seasonally robust second half of this year,” Tufano wrote.


LOUISVILLE — Positive news from the storage industry this week, too, as Storage Technology Corp. reported its most recent earnings.

The company reported net revenue for the second quarter of 2003 of $527. 3 million, compared with $491.9 million for the second quarter of last year.

Net income for the recent quarter was $30.1 million, or 27 cents per diluted share, a 57 percent increase over the $19.1 million, or 18 cents per diluted share, net income for the second quarter of 2002.

“Our success is due to our approach that enables customers to view storage solutions on a holistic, enterprise-wide basis,” Pat Martin, chairman, president and chief executive officer said in a company statement.

Earnings for the first six months of the year also took a substantial jump: Revenue for the period was $1 billion, compared with $947.8 million for the first two quarters of 2002. This translated to net income for the most recent six-month period of $46.6 million, or 42 cents per diluted share, compared with $25.1 million, or 23 cents per diluted share, for the first six months of 2002.