Seagate has finished year with a dead loss in $3 mlrd

Company Seagate Technology has reported by results of the fourth quarter and the 2008-2009 which has come to the end on July, 3rd, 2009 According to the report, volumes of deliveries of disk stores on the market in the fourth quarter have made 40,6 million units in the total cost of $2,35 mlrd, the company dead loss for the accounting period has made $81 million, or $0,16 in recalculation on one action. Financial results of the company for the fourth quarter also include $21 million from amortisation of the got non-material actives and other deductions connected with processes of acquisition; the deductions connected with processes of re-structuring and accelerated depreciation, at a rate of $85 million Total result of the specified processes – $106 million, or $0,22 for the action.

Folowing the results of 2008-2009 the volume of the made hard disks has made 163,8 million units, the gain has reached a point in $9,8 mlrd, the company dead loss has reached $3,1 mlrd, or $6,32 in recalculation on one action. Financial results of the company include also $77 million from amortisation of the got non-material actives and other deductions connected with processes of acquisition; the deductions connected with processes of re-structuring and accelerated depreciation, at a rate of $266 million; deductions at a rate of $271 million, reflecting adverse influence of the cost amendment, the company concerning postponed tax actives, and deductions at a rate of $2,3 mlrd, connected with write-off of intangible actives of the company and other long-term actives.

Total result of the specified processes – profit decrease on $2,9 mlrd, or on $5,95 counting on the action. From $266 million spent for re-structuring, $56 million it has been spent for the deductions connected with accelerated amortisation, of which $30 million make expenses for realisation of production and $26 million – expenses for product working out. The most part remaining on balance restrukturizacionnyh expenses is connected with global reduction of the staff, have explained in Seagate. For September quarter the company assumes demand for hard disks at a rate of 135 – 140 million units. Hence, the company expects a gain at a rate of approximately $2,4 - $2,6 mlrd and improvement of factor of profitableness on 200-350 basic points in comparison with results of June quarter.

Expenses for working out and marketing of production and administrative expenses, on expectations, will decrease for $315 million Forecast for September quarter does not consider influence new potential restrukturizacionnyh costs, merges, absorption and other business combinations which can occur in the company, have underlined in Seagate. The general organizatiojal, operational and technological progress which we observed within last six months, is displayed in financial results of June quarter and shows significant advancement to the return purpose to steady profitableness of business shortly, - confirms. Stephen Luso. (Steve Luczo), operating director Seagate.

– We see signs on that the situation in the markets of decisions for a data storage improves, and now at us the best vision of what will be demand. The purpose which we have put for September quarter concerning volumes of production and the grocery offer, consists in continuing the optimised work of our factories direted on the maximum return of investments, and also to provide our clients with production meeting their requirements.