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Emachines financial chief resigns

The low-cost computer maker says financial chief Steven Miller will resign, while the company's stock sinks close to a 52-week low.

Emachines, a computer maker that made a name for itself selling low-cost PCs, today said chief financial officer Steven Miller was resigning.

Miller, who will remain with Emachines until a replacement is found, will join Swell.com, a sports content and e-commerce company, as CFO.

Emachines, which went public in March at $9 per share, tumbled more than 12 percent this morning to $5.31. The stock has traded as high as $10 and as low as $4 since its debut.

Last year, Apple Computer filed a suit against Emachines and several distributors, complaining that the companies were selling an iMac knockoff. The suit was settled in March; the terms of the settlement were not disclosed.

In April, the company reported a surprise profit and said it is working on two lines of inexpensive Internet appliances to be released next year.