Adaptec losses grow in 3Q
Adaptec Inc. said Friday its third-quarter loss grew as the maker of technology products for data centers dealt with higher administrative and restructuring costs and falling revenue.
Adaptec, which has headquarters in Milpitas, Calif., posted a loss of $7.28 million, or 6 cents per share in its third quarter, which includes the three months that ended Jan. 1. That compares with a loss of $1.31 million, or 1 cent a share, in the same period in 2008.
Revenue fell 40 percent to $16.9 million from $28.2 million.
Adaptec shares fell 1 cent to close Friday at $3.04.