COMPANY PRESS RELEASE: Seagate and its affiliated companies has reported record shipments of 14.6 million disc drives for the second quarter of its fiscal year 2002.
Seagate delivered exceptional second quarter results as we continue to strengthen our competitive position through time-to-market product leadership and operational efficiencies. Our leadership position is a result of our commitment to investing in technology and the success of a wide variety of process improvement initiatives, including Six Sigma, Supply Chain Management and Factory of the Future, during the last few years, said Steve Luczo, chief executive officer.
The Company reported consolidated revenue of $1.741 billion and net income of $122 million for its quarter ended December 28, 2001.
For the immediately preceding quarter ended September 28, 2001 net income was $32 million.
For the year-ago quarter ended December 29, 2000, combined pro forma net income was $69 million. The operating results for the year-ago quarter include the combined results of the Company with the pre-closing results of its predecessor, Seagate Technology, Inc. On a GAAP basis, for the year-ago quarter, the Company reported a combined net loss of $1.792 billion.