Hard drive manufacturer Seagate (NYSE: STX) updated its financial outlook for the December 2011 and March 2012 quarters. Overall, the outlook is good and Seagate believes that the industry will come closer to meeting demand than previously anticipated. While Seagate’s holdings in Thailand have not been affected by the recent flood, other industries and suppliers of parts have been, so production has been slowed. However, the company believes that for this December they will be able to ship 43 million units and turn a $2.8 million gross profit.
Hard drive manufacturer Seagate (NYSE: STX) updated its financial outlook for the December 2011 and March 2012 quarters. Overall, the outlook is good and Seagate believes that the industry will come closer to meeting demand than previously anticipated. While Seagate’s holdings in Thailand have not been affected by the recent flood, other industries and suppliers of parts have been, so production has been slowed. However, the company believes that for this December they will be able to ship 43 million units and turn a $2.8 million gross profit.
Their outlook for the March 2012 quarter is optimistic, indicating that they will be able to ship products at pre-flood levels and turn a profit of $3.75 billion. These projections don’t include Seagate’s acquisition of Samsung’s hard drive business, nor the arbitration award made public on November 21. Things seem to be looking up on Seagate and the hard disk industry as a whole, but we can expect prices to stay about the same for the time being.
