Feeds

Seagate says storage demand better than expected

What could possibly go wrong this quarter?

Internet Security Threat Report 2014

Seagate surprised itself in the last quarter by shipping 47 million disk drives, more than it had actually planned for.

The storage vendor's results for the first quarter ending 28 September showed revenues up 17.6 per cent to $3.3bn, with net income leaping from $19m last year to $355m. This turned in earnings per share of $0.64.

CEO Bill Watkins said as well as its "unique platform and commitment to innovation" (of course) it had benefited from favourable industry conditions, with "greater unit demand than expected".

Watkins clearly expects favourable conditions to continue into the current quarter, predicting revenues of $3.4bn to $3.5bn, with income per share of $0.69 to $0.70. Wall Street was expecting $0.69 on revenues of $3.4bn.

Seagate was not the only components supplier to see better than expected shipments in the just ended quarter. Intel did better than expected too. However, this has left industry watchers wondering if demand for PCs really is better than expected or if manufacturers are ramping up inventories, after some were caught out by shortages earlier this year.

If it's the latter, the only thing that could possibly throw a spanner in the works is for buyers to decide that this is probably not the quarter to be lashing out on a flash new PC. But there's no reason to assume people might get cold feet this quarter. Is there? ®

Internet Security Threat Report 2014

More from The Register

next story
Docker's app containers are coming to Windows Server, says Microsoft
MS chases app deployment speeds already enjoyed by Linux devs
IBM storage revenues sink: 'We are disappointed,' says CEO
Time to put the storage biz up for sale?
'Hmm, why CAN'T I run a water pipe through that rack of media servers?'
Leaving Las Vegas for Armenia kludging and Dubai dune bashing
'Urika': Cray unveils new 1,500-core big data crunching monster
6TB of DRAM, 38TB of SSD flash and 120TB of disk storage
Facebook slurps 'paste sites' for STOLEN passwords, sprinkles on hash and salt
Zuck's ad empire DOESN'T see details in plain text. Phew!
SDI wars: WTF is software defined infrastructure?
This time we play for ALL the marbles
Windows 10: Forget Cloudobile, put Security and Privacy First
But - dammit - It would be insane to say 'don't collect, because NSA'
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.