Seagate Reports 2Q Results

Seagate reported revenue of $3.0 billion, GAAP net income of $140 million, and diluted earnings per share of $0.23 for the second quarter

January 24, 2007

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SCOTTS VALLEY, Calif. -- Seagate Technology (NYSE:STX) today reported revenue of $3.0 billion, GAAP net income of $140 million, and diluted earnings per share of $0.23 for the quarter ended December 29, 2006. Included in the $3.0 billion of revenue is approximately $200 million from legacy Maxtor designed products. Net income and diluted earnings per share includes approximately $76 million of charges directly associated with the Maxtor acquisition and $19 million for the early retirement of the 8% notes. Excluding these charges, non-GAAP net income and diluted earnings per share were $236 million and $0.39.

Seagate Technology Inc.

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