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  1. Technology
October 14, 1998

COMPANY RESULT: SEAGATE TECHNOLOGY INC

By CBR Staff Writer

Seagate Technology Inc, Scotts Valley, California, storage company, reported a loss of $30m for the first quarter to October2 down from a loss of $240m on revenues which declined 18% to $1.5bn. Net loss per share is down from $0.98 to $0.12. Seagate took charges in the quarter of $7m relating to the separation agreement with former CEO Alan Shugart and $77m relating to the 1977 acquisition of Quinta Corp.

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