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Adaptec losses grow in 3Q

Fri, 01/29/2010 - 2:01pm
The Associated Press

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.

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