Feeds

Seagate profits slump

But nearly $3bn in sales

High performance access to file storage

Disk maker Seagate saw profits fall in the second quarter ended 29 December 2006 despite growing sales.

Costs relating to the acquisition of Maxtor pushed profits down more than 50 per cent.

Seagate made sales of $2,996bn in the quarter ended 30 December 2005, but net income was down to $140m from $287m.

The company spent $76m directly on the acquisition, but said it was successfully shifting Maxtor customers to "more cost-effective, higher margin Seagate products".

In the run up to Christmas the firm sold seven million disc drives for consumer products.

Looking forward, Seagate predicts a further increase in profitability in the traditionally slower second half of the year.

For fiscal 2007 it predicts revenues of between $11.5bn and $11.7bn and non-GAAP diluted earnings per share of $1.70 and $1.75.

The company will pay a quarterly dividend of 10 cents per share on or before 16 February.

More here. ®

High performance access to file storage

More from The Register

next story
Seagate brings out 6TB HDD, did not need NO STEENKIN' SHINGLES
Or helium filling either, according to reports
European Court of Justice rips up Data Retention Directive
Rules 'interfering' measure to be 'invalid'
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Cisco reps flog Whiptail's Invicta arrays against EMC and Pure
Storage reseller report reveals who's selling what
Bored with trading oil and gold? Why not flog some CLOUD servers?
Chicago Mercantile Exchange plans cloud spot exchange
Just what could be inside Dropbox's new 'Home For Life'?
Biz apps, messaging, photos, email, more storage – sorry, did you think there would be cake?
IT bods: How long does it take YOU to train up on new tech?
I'll leave my arrays to do the hard work, if you don't mind
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.