MILANO, Italia - 22 Ottobre 2008 - Seagate Technology (NYSE: STX) rende noti i risultati finanziari del primo trimestre 2009: circa 48 milioni i dischi immessi sul mercato, con ricavi per 3,03 miliardi di dollari, un guadagno netto di 60 milioni di dollari, e un guadagno netto diluito per azione di 0,12 dollari, per il trimestre conclusosi il 3 Ottobre 2008.

Il guadagno netto e il guadagno netto diluito per azione comprendono circa 20 milioni di dollari per l’ammortamento di beni immateriali e altre spese collegate alle recenti acquisizioni da parte di Seagate, oltre che 51 milioni di dollari di spese relative alla ristrutturazione delle attività. L’impatto al netto di queste voci è una riduzione di circa 71 milioni di dollari sul guadagno netto e una diminuzione di circa 0,14 dollari diluito per azione. Dei 51 milioni di dollari relativi alla ristrutturazione delle attività, circa 28 milioni di dollari sono stati generati dall’ammortamento e registrati nei costi di reddito, mentre circa 23 milioni di dollari sono stati spesi per la ristrutturazione e altri costi di chiusura e sono stati registrati nei costi di ristrutturazione.

Bill Watkins, Seagate chief executive officer, ha così commentato: "Questo trimestre è stato contrassegnato dal progresso misurabile di Seagate verso il recupero della storica posizione di leadership in tutti i mercati. Con un forte bilancio, Seagate sta operando da una posizione di forza. Rivolgendo uno sguardo all’ambiente macroeconomico difficile, noi ci focalizzeremo sul controllo dei costi e sulla gestione dell’ inventario pur continuando ad investire in tecnologie chiave che rafforzeranno la nostra leadership di prodotto. Di conseguenza, siamo più che sicuri delle nostre capacità di convertire la crescente domanda per lo storage in un valore superiore per i nostri azionisti”. Ulteriori informazioni relative ai risultati finanziari del primo trimestre 2009 sono reperibili sul sito www.seagate.com.

SCOTTS VALLEY, Calif.-October 22, 2008-Seagate Technology (NASDAQ: STX) today reported disk drive unit shipments of 48 million, revenue of $3.03 billion, net income of $60 million, and diluted net income per share of $0.12 for the quarter ended October 3, 2008. Net income and diluted net income per share for the quarter includes $20 million of purchased intangibles amortization and other charges associated with Seagate’s acquisitions, and charges related to restructuring activities of $51 million. The net impact of these items is a $71 million reduction to net income and a decrease of approximately $0.14 per share on a diluted basis. Of the $51 million related to restructuring activities, approximately $28 million was accelerated depreciation recorded in cost of revenue and $23 million was for severance and other closing costs recorded in restructuring.

"This quarter was marked by Seagate’s measurable progress toward regaining our longstanding product leadership position across all markets,” said Bill Watkins, Seagate chief executive officer. "With a strong balance sheet, Seagate is operating from a position of strength. Looking forward, in the face of a challenging macro-economic environment, we will focus on cost controls and inventory management while continuing to invest in the key technologies that will solidify product leadership. As a result, we remain highly confident in our ability to convert the long-term growth in demand for storage into superior value for our shareholders.”

Additional information relating to the financial results for the first fiscal quarter of 2009 can be found online at seagate.com.

Business Outlook
For the December quarter, Seagate expects to report revenue of $2.85 - $3.05 billion, and diluted net income per share of $0.12 - $0.16. Included in the December quarter outlook is the following:

• Approximately $20 million for purchased intangibles amortization and other charges associated with recent acquisitions
• Approximately $7 million for restructuring charges related to previously announced restructuring events
• Approximately $7 million for accelerated depreciation expenses related to the planned closing of the Pittsburgh research facility (R&D)

The net impact of these items is an estimated reduction to net income of approximately $34 million, and an aggregate decrease in diluted earnings per share by approximately $0.07. The outlook does not include the impact of any future mergers, acquisitions, dispositions or other business combinations, stock repurchases or potential new restructuring activities the company may undertake during the quarter.

Current uncertainty in global economic conditions makes it particularly difficult to predict product demand and other related matters and makes it more likely that Seagate’s actual results could differ materially from current expectations.

Dividend
The company has declared a quarterly dividend of $0.12 per share to be paid on or before November 21, 2008 to all common shareholders of record as of November 7, 2008.

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