14 DAY TRIAL // While most companies are glad to see their marketing performance improve because of the steady economic recovery, some IT players are also enjoying the fruits of their year-long labor and making the best of their position as top names in their respective market segments. On the Storage front, Seagate can be said to be the best selling brand, at least when it comes to platter-spinning hard disks. To further emphasize this leadership, Seagate managed to perform admirably during the recently completed financial quarter, posting financial results that echo its dominance.
During the quarter that ended on April 2, Seagate did quite well for itself and reached revenues of over $3 billion. After selling no less than 50.3 million different hard disk drives (HDDs), the storage-solution developer managed to gather $3.05 billion in revenues, which shows a small sequential increase compared to the previous quarter's $3.03 billion. This means that the company remains the top supplier of hard drives, though Western Digital is not far behind.
"Consistent with our expectations at the beginning of the March quarter, we achieved strong operational and financial results," Steve Luczo, Seagate CEO, said. "We delivered record shipments while our inventory levels at our OEM and distribution customers remained at nearly all time lows across all geographies and all product offerings. Demand for Seagate products remains very strong and we expect to see tight supply throughout the remainder of the calendar year."
The sequential revenue increase was not high enough to bring higher profits, but Seagate still got a decent $518 million. As for the next three months, the HDD supplier expects to maintain the performance. For those interested in actual numbers, Seagate predicts a revenue between $2.9 billion and $3.1 billion for the quarter that ends in June. As always, more information on the financial results can be found on the official website.