Saturday August 12, 2006

Seagate Q4 profit dives 98% on Maxtor purchase

business-times.asia1.com.sg :

Seagate Technology - the biggest US computer hard-disk drive maker - said its quarterly net profit plunged 98%, due principally to costs from acquiring rival Maxtor Corp. Seagate said average selling prices fell as personal computer makers cut prices to compete. Seagate also said it planned to repurchase as much as US$2.5 billion of its stock over the next two years.

Seagate acquired Maxtor in May for US$1.9 billion and announced 6,000 job cuts at Maxtor, about half of Maxtor's workforce, after the acquisition. Seagate's main competitors include Japan's Fujitsu and Hitachi.

See also :

1. Seagate buys Maxtor for $1.9 billion
2. Seagate cutting 6000 jobs with Maxtor deal

(2006-08-12 15:40:57 SGT) [Biz] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out