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.

Post a Comment:

Comments are closed for this entry.

« Soaring oil prices... | Main | BP sees Alaska repai... »

Most popular blog postings on lowem.log :

1. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
2. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
3. Live spot gold price quotes chart on COMEX
4. Fuel prices seen stoking Malaysia inflation in 2008
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Singapore SIBOR rate fell to 1.25% in Apr 2008, lowest since Aug 2004
7. Malaysia inflation rate jumps to 7.7% in Jun 2008, a 26-year record high
8. Singapore : electricity tariffs to increase April 2008 on rising oil prices

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Singapore : Bread price inflation continues
4. 2010 Honda Civic Hybrid preliminary specifications released
5. Peakoiler buys 2008 Honda Civic Hybrid FD3
6. How to insert currency exchange rates into Google Spreadsheets
7. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
8. Singapore : Inflation erodes away bank savings