Seagate ships record drives

By Matt Whipp

Posted on 10 Jan 2003 at 17:35

Disk manufacturer Seagate announces record shipments for second quarter.

Seagate says it has shipped a record 18.3 million for the second quarter ending 27 December.

The company reported revenues of $1.734bn, up from $1.629bn a year earlier, and a net income of $198m, up from the previous year's $124m.

'Our results reflect solid execution and continued market leadership, and are attributable to the efforts of every employee at Seagate,' said CEO Steve Luczo.

The company said its results were aided by increased sales of its more expensive products.

Luczo also indicated that he felt the figures showed that the industry may be picking itself up out of the doldrums. 'We believe there is now more stability in the industry and a slight firming in demand for technology products,' he said.