Seagate raises first-quarter revenue forecast

Hard disc drive manufacturer Seagate ups revenue forecast for the first quarter of 2008 to $3.15-$3.25 billion.

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By  Michele Howe Published  September 3, 2007

Hard disc drive manufacturer Seagate has upped its revenue forecast for its first fiscal quarter of 2008 on higher-than-anticipated industry unit demand.

Seagate is now predicting its revenue for the first quarter of 2008 ending 28 September to be in the range of $3.15-$3.25 billion, up from its original forecasted range of $2.9-$3.0 billion.

The firm said that three factors contributed to its decision to positively revise its forecast: higher than expected industry unit demand, favourable pricing thus far in the quarter, and a good product mix.

For the first quarter of 2007, the manufacturer registered sales of $2.8 billion, while for the fourth quarter of 2007, its most recent quarter, it recorded revenues of $2.74 billion.

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