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Wednesday, 17 October 2007 12:47

Seagate posts quarterly profit

Written by David Stellmack

Image

Significant increase from one year ago


U.S. hard disk
drive manufacturer, Seagate Technology LLC, reported a strong increase in its revenue due to increased demand for its products. 

Seagate reported net income of $355 million in its quarter that ended in September, compared to net income of only $19 million over the same period one year ago.

The company closed its recent quarter with $1.5 billion in cash and short-term investments, up from $1.1 billion in the immediately preceding quarter.

Last modified on Wednesday, 17 October 2007 14:09

David Stellmack

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