Even high-flying Conner Peripherals Inc can’t buck the recession in the personal computer market: it warns that it expects revenue for its third quarter to September 28 to come out below second quarter levels at about $395m – above the $380.4m reported in the third quarter a year ago, but below the $405m for the second quarter; as a result of the decline and continued pricing pressures, it reckons earnings for the quarter will be below the 44 cents per share reported for second quarter; Conner has about $500m in cash, but is reviewing its cost structure against market conditions and is taking necessary actions to improve profitability – plants dark for a few days, a freeze on hiring, and accelerated movement of production from Singapore to Malaysia, and adjustments in the structure of overheads – not clear whether that means lay-offs.
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