Feeds

Seagate sees red in Q4

Betting on tiny drives

  • alert
  • submit to reddit

Maximizing your infrastructure through virtualization

Troubled hard drive maker Seagate yesterday reported disappointing results for its fourth quarter and full year.

Seagate posted $1.34bn in revenue for the fourth quarter and a net loss of $33m. This is quite a flip from the $1.55bn in revenue and net income of $160m reported in the same period last year. For the full year, Seagate showed $6.22bn in revenue and net income of $529m. Last year, the company managed to pull in $6.49bn in revenue and to post $641m in net income.

"The market dynamics in fiscal year 2004 presented many challenges for Seagate and the industry," said Steve Luczo, Seagate's chairman.

To deal with a lack of demand for its core server and desktop products, Seagate decided to roll out a new line of product for notebooks and consumer devices such as MP3 players and digital video recorders. Seagate hopes its new line of tiny drives will boost revenue in the coming year and give it a bigger chunk of the overall storage market.

In June, Seagate cut 3,000 jobs to deal with the declining 2004 revenue. ®

Related stories

Seagate targets rival with import ban demand
Seagate unveils 'tiny to terabyte' hard drives
Seagate axes thousands

The Power of One eBook: Top reasons to choose HP BladeSystem

More from The Register

next story
Sysadmin Day 2014: Quick, there's still time to get the beers in
He walked over the broken glass, killed the thugs... and er... reconnected the cables*
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
SHOCK and AWS: The fall of Amazon's deflationary cloud
Just as Jeff Bezos did to books and CDs, Amazon's rivals are now doing to it
BlackBerry: Toss the server, mate... BES is in the CLOUD now
BlackBerry Enterprise Services takes aim at SMEs - but there's a catch
The triumph of VVOL: Everyone's jumping into bed with VMware
'Bandwagon'? Yes, we're on it and so what, say big dogs
Carbon tax repeal won't see data centre operators cut prices
Rackspace says electricity isn't a major cost, Equinix promises 'no levy'
prev story

Whitepapers

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.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
How modern custom applications can spur business growth
Learn how to create, deploy and manage custom applications without consuming or expanding the need for scarce, expensive IT resources.
Securing Web Applications Made Simple and Scalable
Learn how automated security testing can provide a simple and scalable way to protect your web applications.