Feeds

Seagate raises financial outlook

High prices don't drop demand

Intelligent flash storage arrays

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." ®

Security for virtualized datacentres

More from The Register

next story
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
The DRUGSTORES DON'T WORK, CVS makes IT WORSE ... for Apple Pay
Goog Wallet apparently also spurned in NFC lockdown
Cray-cray Met Office spaffs £97m on VERY AVERAGE HPC box
Only 250th most powerful in the world? Bring back Michael Fish
Microsoft brings the CLOUD that GOES ON FOREVER
Sky's the limit with unrestricted space in the cloud
'ANYTHING BUT STABLE' Netflix suffers BIG Europe-wide outage
Friday night LIVE? Nope. The only thing streaming are tears down my face
Google roolz! Nest buys Revolv, KILLS new sales of home hub
Take my temperature, I'm feeling a little bit dizzy
IBM, backing away from hardware? NEVER!
Don't be so sure, so-surers
prev story

Whitepapers

Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
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.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
The hidden costs of self-signed SSL certificates
Exploring the true TCO for self-signed SSL certificates, including a side-by-side comparison of a self-signed architecture versus working with a third-party SSL vendor.