Feeds

Seagate profits slump

But nearly $3bn in sales

Choosing a cloud hosting partner with confidence

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
'Kim Kardashian snaps naked selfies with a BLACKBERRY'. *Twitterati gasps*
More alleged private, nude celeb pics appear online
Wanna keep your data for 1,000 YEARS? No? Hard luck, HDS wants you to anyway
Combine Blu-ray and M-DISC and you get this monster
US boffins demo 'twisted radio' mux
OAM takes wireless signals to 32 Gbps
Google+ GOING, GOING ... ? Newbie Gmailers no longer forced into mandatory ID slurp
Mountain View distances itself from lame 'network thingy'
EMC, HP blockbuster 'merger' shocker comes a cropper
Stand down, FTC... you can put your feet up for a bit
Apple flops out 2FA for iCloud in bid to stop future nude selfie leaks
Millions of 4chan users howl with laughter as Cupertino slams stable door
Students playing with impressive racks? Yes, it's cluster comp time
The most comprehensive coverage the world has ever seen. Ever
Run little spreadsheet, run! IBM's Watson is coming to gobble you up
Big Blue's big super's big appetite for big data in big clouds for big analytics
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.