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Wednesday, January 7, 2009
24-Hour News Technology |
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Seagate 2Q profit jumps by $263 million
-- The Associated Press (Published January 17‚ 2008) SCOTTS VALLEY, Calif. (AP) Hard drive maker Seagate Technology said Thursday its fiscal second-quarter earnings jumped by 188 percent as shipments rose 20 percent year over year. For the quarter ended Dec. 28, Seagate earned $403 million, or 73 cents per share, compared with $140 million, or 23 cents per share, in the year-earlier quarter. Excluding special items, Seagate earned 76 cents per share for the period. Analysts polled by Thomson Financial expected adjusted earnings of 75 cents per share. The company reported revenue rose to $3.42 billion from $3 billion in last year's second quarter. Analysts had expected $3.49 billion in revenue. The company reported disc drive unit shipments of about 50 million for the quarter. For its third fiscal quarter, Seagate predicted income of 57 cents to 61 cents per share on revenue of $3.2 billion and $3.3 billion. Seagate is based in the Cayman Islands but operates out of Scotts Valley, Calif. |
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