Seagate profits up

HDD makers do well

Seagate posted GAAP net income of $196m on revenues of $1.81bn for Q3 ended March 29, 2002. Strip out restructuring charges of $4m and pro forma net income was $199m.

For the same period last year, the disk drive maker declared GAAP net income of $24 million and pro forma net income of $57 million for the year-ago quarter.

In Q2, ended December 28, net income was $122m. ®