Seagate celebrates good business
Californian hard drive manufacturer Seagate was able to increase net profits in the third quarter of fiscal year 2007/08 to $344m (around £174m). Compared to the same period last year, that is an increase of 62 percent. Revenues increased by 9.8 per cent to $3.1bn (£1.5bn).
According to their own figures, the company delivered 43 million hard drive units between December 29 and March 28, an 8 per cent increase over the same quarter last year. Seagate CEO Bill Watkins sees additional growth potential, especially in the notebook and retail business. In the current fourth quarter, the company expects revenues of $2.85bn to $3bn.