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Seagate achieved significant profit increase

Seagate has achieved in the third quarter of 2007 (to September 28) sales of $ 3.3 billion. In the same period last year, the value at 2.8 billion dollars. The Californian hard drive manufacturer announced yesterday.

The GAAP net income presented in the year from 19 to 355 million dollars ($ 0.64 per share). The non-GAAP earnings were $ 385 million or $ 0.69 per share.

The positive development in the traditionally strong first quarter of fiscal 2008 was due primarily to increased demand, said Bill Watkins, Seagate CEO. In the past three months, Seagate sold about 47 million hard drives. For the fourth fiscal period 2007, the company expects a turnover from 3.4 to 3.5 billion and GAAP equity value from 0.66 to 0.70 dollars.

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