Feeds

Seagate profits slump

But nearly $3bn in sales

HP ProLiant Gen8: Integrated lifecycle automation

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. ®

Reducing security risks from open source software

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*
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
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
US judge: YES, cops or feds so can slurp an ENTIRE Gmail account
Crooks don't have folders labelled 'drug records', opines NY beak
Auntie remains MYSTIFIED by that weekend BBC iPlayer and website outage
Still doing 'forensics' on the caching layer – Beeb digi wonk
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

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.