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10.22.2008 - Seagate Technology Reports Fiscal First Quarter 2009 Results

View Seagate-Technology related news. SCOTTS VALLEY, Calif.-October 22, 2008-Seagate Technology (NASDAQ: STX) today reported disk drive unit shipments of 48 million, revenue of $3.03 billion, net income of $60 million, and diluted net income per share of $0.12 for the quarter ended October 3, 2008. Net income and diluted net income per share for the quarter includes $20 million of purchased intangibles amortization and other charges associated with Seagate’s acquisitions, and charges related to restructuring activities of $51 million. The net impact of these items is a $71 million reduction to net income and a decrease of approximately $0.14 per share on a diluted basis. Of the $51 million related to restructuring activities, approximately $28 million was accelerated depreciation recorded in cost of revenue and $23 million was for severance and other closing costs recorded in restructuring.

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NID: 24897 / Submitted by: TACKtech Team
Categories: Press Release
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