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Seagate Ships 43 Million Drives & Makes Massive Profit

Seagate Ships 43 Million Drives & Makes Massive Profit

For the twelve months ended June 27, 2008, Seagate reported revenue of $US12.7 billion, GAAP net income of $US1.3 billion, and according to Bill Watkins, Seagate CEO, “We delivered strong growth in fiscal year 2008, with unit volume and revenue up 15 per cent and 12 per cent, respectively over fiscal year 2007, and with net income of $US1.3 billion”.

Seagate says it expects gross margins to begin further improving with the December quarter and settle into the targeted range of 21-25 per cent for the balance of the this fiscal year.