Short Take: Komag reports loss

Komag, a disk drive components maker, posted second-quarter results below expectations. Komag reported a net loss of $74.1 million, or $1.40 per share, before a $261.9 million one-time charge related to layoffs and plant closure. Analysts expected a loss of $1.11 a share, according to First Call. Net sales totaled $78.8 million, down from $175.1 million for the year-ago quarter. Komag attributed the low earnings to a weak demand.

July 17, 1998 6:20 a.m. PT

, a disk drive components maker, posted second-quarter results below expectations. Komag reported a net loss of $74.1 million, or $1.40 per share, before a $261.9 million one-time charge related to layoffs and plant closure. Analysts expected a loss of $1.11 a share, according to First Call. Net sales totaled $78.8 million, down from $175.1 million for the year-ago quarter. Komag attributed the low earnings to a weak demand.