Bangkok--25 Oct--Seagate Technology Seagate Technology (NYSE: STX) today reported disc drive unit shipments of 47 million, revenue of $3.3 billion, GAAP net income of $355 million, and diluted net income per share of $0.64 for the quarter ended September 28, 2007. GAAP net income and diluted net income per share includes approximately $30 million of purchased intangibles amortization and other charges associated with the Maxtor and EVault acquisitions. Excluding these charges, non-GAAP net income and diluted net income per share were $385 million and $0.69. Included in both GAAP and non-GAAP results are restructuring charges of approximately $5 million or approximately $0.01 per share. “Our strong performance in the quarter reflects favorable industry conditions as well as the competitive strength of Seagate’s unique platform and commitment to innovation,” said Bill Watkins, Seagate chief executive officer. “The first fiscal quarter has historically been a strong one for Seagate, and this year, we benefited from unit demand greater than expected. We believe we are well positioned to continue driving year-over-year revenue growth, and these record quarterly results demonstrate the effectiveness of Seagate’s business model.” Adjustments made to GAAP net income and diluted net income per share can be found with the financial statements included with this press release. Additional information relating to the financial results for the first fiscal quarter of 2008 can be found online at seagate.com.Business Outlook For the December quarter, Seagate expects to report revenue of $3.4 - $3.5 billion, and GAAP diluted net income per share of $0.66 - $0.70. Excluding approximately $26 million of purchased intangibles amortization and other charges associated with the Maxtor and EVault acquisitions, non-GAAP diluted net income per share for the December quarter is expected to fall within the range of $0.71 - $0.75. This guidance does not include the impact of any future acquisitions, stock repurchases or restructuring activities the company may undertake.Dividend and Stock Repurchase The company has declared a quarterly dividend of $0.10 per share to be paid on or before November 16, 2007 to all common shareholders of record as of November 2, 2007. During the quarter ended September 28, 2007, the company took delivery of approximately 10.3 million of its common shares related to its share repurchase plan. The average price of the shares delivered to the company in the June quarter was $24.27. The company has authorization to purchase approximately $725 million of additional shares under the current stock repurchase program.Conference Call Seagate will hold a conference call to review the fiscal first quarter results at 2:30 p.m. Pacific Time today. The conference call can be accessed online at seagate.com or by phone as follows: USA: (877) 223-6202 International: (706) 679-3742 Conference ID: 19682090Replay A replay will be available beginning today at 6:30 p.m. Pacific Time through October 23 at 8:59 p.m. Pacific Time. The replay can be accessed from seagate.com or by phone as follows:USA: (800) 642-1687International: (706) 645-9291Conference ID: 19682090Podcast A podcast featuring Brian Dexheimer discussing Seagate’s performance during the quarter and the outlook going forward can be heard and downloaded from http://www.podtech.net/seagate beginning at 2:30 p.m. Pacific Time.