Seagate reports sales of at least $3.6 billion
SAN FRANCISCO (MarketWatch) — Seagate Technology on Tuesday released preliminary fiscal second-quarter results that included sales that exceeded Wall Street analysts’ forecasts. Seagate said that for the quarter ended Dec. 28 it expects to report sales of at least .6 billion, while analysts surveyed by FactSet had forecast the company to post .52 billion in sales. Seagate didn’t release earnings results, but said it expects to report gross margins of more than 27%, and shipments of about 58 million hard-drive units. The company had earlier forecast revenue of .5 billion and gross margins at the low end of a range of 27% to 32%. Seagate shares rose 2.6% in after-hours trading.
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