Company Profile For Seagate Technology

Seagate Technology (Seagate) is engaged in the design, manufacture and marketing of hard disc drives. Hard disc drives, which are referred to as disc drives or hard drives, are used as the primary medium for storing electronic information in systems ranging from desktop and notebook computers, and consumer electronics devices to data centers delivering information over corporate networks and the Internet. It produces a range of disc drive products addressing enterprise applications, where its products are used in enterprise servers, mainframes and workstations; desktop applications, where its products are used in desktop computers; mobile computing applications, where its products are used in notebook computers, and consumer electronics applications, where its products are used in a variety of devices, such as digital video recorders and other consumer electronic devices that require storage. It also sells its branded storage solutions under both the Seagate and Maxtor brands.

BRIEF: For the thirteen week ended 2 October 2009, Seagate Technology's revenues decreased 12% to $2.66B. Net income totaled $179M, up from $57M. Revenues reflect decreased income from Company's sales of product & services from United States & Netherlands markets. Net income was offset by a decrease in cost of sales, lower product development cost, decreased marketing & administrative expenses and lower amortization of intangibles.