SAN FRANCISCO, July 21 (Reuters) - Hard drive maker Seagate Technology reported a quarterly profit after stripping out one-time items, against expectations for a loss, sending its shares 2 percent higher.
Excluding amortization and other charges for acquisitions and restructuring, the company earned 6 cents a share in its fiscal fourth quarter, compared with an average forecast for a loss of 9 cents, according to Reuters Estimates.
The company reported a net loss of $81 million, or 16 cents a share, for the quarter ended July 3, compared to a profit of $160 million, or 32 cents, a year ago.
Revenue fell to $2.35 billion from $2.899 billion a year ago.
The company said it saw revenue of $2.4 billion to $2.6 billion in the fiscal first quarter, better than it had predicted in June.
Seagate shares rose 22 cents, or 2 percent, from its close of $11.20 on Nasdaq.
(Reporting by David Lawsky; Editing Bernard Orr) Keywords: SEAGATE/ (E-mail david.lawsky@thomsonreuters.com; Phone +1 415 677 2505; Reuters Messaging david.lawsky.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Excluding amortization and other charges for acquisitions and restructuring, the company earned 6 cents a share in its fiscal fourth quarter, compared with an average forecast for a loss of 9 cents, according to Reuters Estimates.
The company reported a net loss of $81 million, or 16 cents a share, for the quarter ended July 3, compared to a profit of $160 million, or 32 cents, a year ago.
Revenue fell to $2.35 billion from $2.899 billion a year ago.
The company said it saw revenue of $2.4 billion to $2.6 billion in the fiscal first quarter, better than it had predicted in June.
Seagate shares rose 22 cents, or 2 percent, from its close of $11.20 on Nasdaq.
(Reporting by David Lawsky; Editing Bernard Orr) Keywords: SEAGATE/ (E-mail david.lawsky@thomsonreuters.com; Phone +1 415 677 2505; Reuters Messaging david.lawsky.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.