View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
April 6, 2004

Seagate warns on third quarter

Disk vendor Seagate Technology said yesterday that it would not meet third quarter expectations, after demand was weaker than expected.

By CBR Staff Writer

Earnings per share are expected to be between $0.06 and $0.08 in the quarter ending April 2, excluding a $0.25 per share tax benefit, compared to the $0.20 to $0.30 per share previously expected.

The biggest blow to the figures came from the notebook disk sector. Seagate said excess purchasing in the December quarter had combined with a subsequent slowdown in notebook systems growth and a more concentrated customer base, leading to far fewer shipments than the company anticipated. The supply imbalance in the market could cause further uncertainty in the June quarter, the firm said.

Seagate also cited a reduction in sales of personal storage products into the distribution channel, after it decided to hold the line on pricing. Enterprise storage products were hit by an imbalance towards OEM customers, rather than the distribution channel , where pricing is more favorable.

Seagate did not comment on its revenue expectations for the quarter. The consensus forecast is for revenue of $1.52bn.

This article is based on material originally published by ComputerWire

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU