History (1993): Seagate Over $3 Billion in Sales

Seagate Technology (Scotts Valley, CA) is the first independent manufacturer in the WW storage industry to exceed $3 billion sales in its fiscal year.

It has effectively reached $3,043.6 million in its period ended July 2, 1993, a 6% increase compared with the former annual period, and this despite a poor last quarter.

Throughout the world, IBM, or to be more exact its subsidiary AdStar, is the only company to have done better than Seagate with sales 2X higher, but most were products sold for its own computers.

Seagate is one of the storage companies that made the best in today’s difficult period. Its sales, compared with 4Q92, were only stagnant in its last quarter and its benefits dropped 44%, but they still were benefits.

Another comparison can depict this sluggishness: during the calendar year, closed at the end of 1992, Seagate reported $3,080 million sales, more than in its fiscal year closed at the end of 1H93, with net income of $22 and $195 million respectively.

This article is an abstract of news published on the former paper version of Computer Data Storage Newsletter on issue 67, published on August 1993.