Feeds

Disappearing disks punish Seagate

2003 was so much more fun

  • alert
  • submit to reddit

Next gen security for virtualised datacentres

Disc drive maker Seagate warned on Tuesday that its third quarter numbers will likely come in at the low end of forecasts, due to broad declines in demand for its storage products.

Seagate saw demand taper off in the early part of 2004 after an unusually strong December. January sales, in particular, for both mobile storage and enterprise storage products dropped, prompting Seagate to provide guidance to investors. The company now expects its earnings per share numbers for the quarter ending April 2 to be at the bottom end of its previous $0.20 to $0.30 forecast.

"Recent industry data indicates that the total available market for mobile storage products will be 10-15 percent below the 16.3 million units that shipped in the December quarter and in contrast to the 16-17 million units that the company stated on January 20," Seagate said.

And the enterprise product story is not much better.

"The company expects the total available market for enterprise storage products to be about 5 million units, which is 10 per cent below the company's previous expectation of 5.5 million units stated on January 20. This would represent a decrease of 800,000 units from the 5.8 million units that shipped in the December quarter."

Seagate worked to assuage investor fears, saying it has made "meaningful progress" toward trimming channel inventory. In addition, product pricing has leveled off after declines last quarter. ®

Next gen security for virtualised datacentres

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.