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October 21, 2010

Seagate Q1 revenue up marginally to $2.7bn

Operating income up 5%

By CBR Staff Writer

Seagate Technology has reported net revenue of $2.70bn for the first quarter of fiscal 2011, as compared to $2.66bn for the same period last fiscal.

The company shipped 49.2 million units, up 5% as compared to the prior quarter and 6% compared to the year-ago quarter.

Gross Margin as a percent of revenue was 20.4%.

The company posted an operating income of $231m for the quarter, an increase of 5% as compared to $221m for the same quarter last year.

For the first quarter ended October 1 2010, the company posted a net income of $149m, or $0.31 per dilute share, as compared to a net income of $179m, or $0.35 per dilute share for Q1 FY10.

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