Seagate Technology Reports Fiscal First Quarter 2011 Financial Results
Seagate Technology reported financial results for the quarter ended October 1, 2010. The company shipped 49.2 million disk drives and on a GAAP basis reported revenue of $2.7 billion, gross margin of 20.4%, net income of $149 million and diluted earnings per share of $0.31.
On a non-GAAP basis, which excludes the impact of purchased intangibles amortization, restructuring and costs related to the redemption of the Maxtor convertible notes, Seagate reported net income of $180 million and diluted earnings per share of $0.37.
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