Feeds

Seagate raises financial outlook

High prices don't drop demand

Beginner's guide to SSL certificates

In brief Disk drive behemoth Seagate is giving a notably large bump to its fiscal first quarter revenue forecast today, citing strong demand, favorably high prices and a better product mix.

The world's largest hard-disk maker increased its forecast for the three moths ending September 28 to a range of $3.15bn to $3.25bn. During its end-of-year earnings call in July, the company had forecast revenue between $2.9bn to $3bn.

Seagate expects to report a gross profit margin expansion to about 24 per cent due to the favorable market conditions. The company excludes $27m from its adjusted earnings figure for amortization of purchased intangible assets and other acquisition-related charges.

The disk firm today also quashed rumors that were putting US authorities' undies in a bunch — that Seagate was entertaining thoughts of selling to a Chinese tech firm. Seagate CEO BIll Watkins had told the New York Times that a Chinese IT company had been interested in acquiring the Scotts Valley company, but declined to name anyone specifically.

Today, Seagate told Reuters "Just to be clear, Seagate has not received such an offer, and we are not trying to sell the company." ®

Internet Security Threat Report 2014

More from The Register

next story
Azure TITSUP caused by INFINITE LOOP
Fat fingered geo-block kept Aussies in the dark
729 teraflops, 71,000-core Super cost just US$5,500 to build
Cloud doubters, this isn't going to be your best day
Want to STUFF Facebook with blatant ADVERTISING? Fine! But you must PAY
Pony up or push off, Zuck tells social marketeers
Oi, Europe! Tell US feds to GTFO of our servers, say Microsoft and pals
By writing a really angry letter about how it's harming our cloud business, ta
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
SAVE ME, NASA system builder, from my DEAD WORKSTATION
Anal-retentive hardware nerd in paws-on workstation crisis
Astro-boffins start opening universe simulation data
Got a supercomputer? Want to simulate a universe? Here you go
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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.
Top 5 reasons to deploy VMware with Tegile
Data demand and the rise of virtualization is challenging IT teams to deliver storage performance, scalability and capacity that can keep up, while maximizing efficiency.