Feeds

Seagate raises financial outlook

High prices don't drop demand

Application security programs and practises

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." ®

Eight steps to building an 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*
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
Apple fanbois SCREAM as update BRICKS their Macbook Airs
Ragegasm spills over as firmware upgrade kills machines
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
EU's top data cops to meet Google, Microsoft et al over 'right to be forgotten'
Plan to hammer out 'coherent' guidelines. Good luck chaps!
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
Manic malware Mayhem spreads through Linux, FreeBSD web servers
And how Google could cripple infection rate in a second
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
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.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.