Exhibit 99.1

MAXTOR CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)
(Unaudited)

			September 27,		December 28,
			2003		2002
ASSETS
Current assets:
	Cash and cash equivalents		$	490,766	$	306,444
	Restricted cash			40,023		56,747
	Marketable securities			43,567		87,507
	Restricted marketable securities			41,232		—
	Accounts receivable, net			493,451		363,664
	Inventories			218,384		175,545
	Prepaid expenses and other			52,417		33,438
		Total current assets		1,379,840		1,023,345
Property, plant and equipment, net				328,258		364,842
Goodwill and other intangible assets, net				899,172		960,849
Other assets				15,548		11,798
		Total assets	$	2,622,818	$	2,360,834
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
	Short-term borrowings, including current portion of long-term debt		$	79,487	$	41,042
	Accounts payable			688,167		642,206
	Accrued and other liabilities			453,056		471,750
	Liabilities of discontinued operations			4,242		11,646
		Total current liabilities		1,224,952		1,166,644
Deferred taxes				196,455		196,455
Long-term debt				343,201		206,343
Other liabilities				189,059		199,071
		Total liabilities		1,953,667		1,768,513
Total stockholders’ equity				669,151		592,321
		Total liabilities and stockholders’ equity	$	2,622,818	$	2,360,834

MAXTOR CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)
(Unaudited)

			Three months ended						Nine months ended
			September 27,			September 28,			September 27,			September 28,
			2003			2002			2003			2002
Net revenues			$	1,065,531		$	819,716		$	2,915,323		$	2,741,166
Cost of revenues				883,106			762,187			2,411,805			2,510,481
Gross profit				182,425			57,529			503,518			230,685
Operating expenses:
	Research and development			88,172			94,095			259,051			301,205
	Selling, general and administrative			33,875			34,754			96,774			111,424
	Amortization of goodwill and other intangible assets			20,562			20,562			61,686			61,686
	Restructuring charge			—			9,495			—			9,495
		Total operating expenses		142,609			158,906			417,511			483,810
Income (loss) from continuing operations				39,816			(101,377	)		86,007			(253,125	)
Interest expense				(8,966	)		(7,133	)		(22,713	)		(20,241	)
Interest and other income				1,197			2,944			3,983			8,349
Other gain (loss)				(951	)		623			(863	)		2,200
Income (loss) from continuing operations before income taxes				31,096			(104,943	)		66,414			(262,817	)
Provision for income taxes				1,209			527			2,923			1,333
Income (loss) from continuing operations				29,887			(105,470	)		63,491			(264,150	)
Income (loss) from discontinued operations				—			(58,141	)		—			(73,501	)
Net income (loss)			$	29,887		$	(163,611	)	$	63,491		$	(337,651	)
Net income (loss) per share — basic
Continuing operations			$	0.12		$	(0.44	)	$	0.26		$	(1.11	)
Discontinued operations			$	—		$	(0.24	)	$	—		$	(0.31	)
Total			$	0.12		$	(0.68	)	$	0.26		$	(1.42	)
Net income (loss) per share — diluted
Continuing operations			$	0.12		$	(0.44	)	$	0.26		$	(1.11	)
Discontinued operations			$	—		$	(0.24	)	$	—		$	(0.31	)
Total			$	0.12		$	(0.68	)	$	0.26		$	(1.42	)
Shares used in per share calculation
		-basic		241,618,230			240,177,574			242,135,752			238,413,709
		-diluted		252,343,682			240,177,574			248,358,269			238,413,709