Seagate Technoly reports Fiscal Second Quarter 2011 Results

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Seagate Technoly reports Fiscal Second Quarter 2011 Results

Seagate Technology has reported financial results for the quarter ended December 31, 2010. The company shipped 48.9 million disk drives and on a GAAP basis and reported a revenue of $2.7 billion, gross margin of 19.5%, net income of $150 million and diluted earnings per share of $0.31. On a non-GAAP basis, which excludes the net impact of purchased intangibles amortization and restructuring, Seagate reported net income of $159 million and diluted earnings per share of $0.33 for the quarter ended December 31, 2010.

For the six months ended December 31, 2010, the company reported,on a GAAP basis, a revenue of $5.4 billion, gross margin of 19.9%, net income of $299 million and diluted earnings per share of $0.61. On a non-GAAP basis, which excludes the impact of purchased intangibles amortization and restructuring, Seagate reported a net income of $339 million and diluted earnings per share of $0.70.

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