Published in News
Seagate posts quarterly profit
by David Stellmack on17 October 2007
Significant increase from one year ago
U.S. hard disk drive manufacturer, Seagate Technology LLC, reported a strong increase in its revenue due to increased demand for its products.
Seagate reported net income of $355 million in its quarter that ended in September, compared to net income of only $19 million over the same period one year ago.
The company closed its recent quarter with $1.5 billion in cash and short-term investments, up from $1.1 billion in the immediately preceding quarter.