Seagate HDD shipments only 88% of Western Digital

Seagate today also released its financial report for the first quarter of fiscal year 2012. Although the total revenue was slightly higher than that of Western Digital, neither net profit nor hard disk shipments were significantly different.

As of September 30, 2011, Seagate’s HDD shipments totaled 51 million units, revenue was US$2.8 billion, gross margin was 19.5%, net profit was US$140 million, and diluted earnings per share were US$0.32. According to non-GAAP, which excludes certain factors, Seagate’s quarterly net profit was US$146 million, and diluted earnings per share were US$0.34.

Compared to the same period of last year, Seagate’s hard disk shipments increased slightly by 3.7%, total revenue slightly increased by 1%, and net profit fell by 6%. In contrast to Western Digital, Seagate’s revenue was more than US$100 million, but its net profit was less than US$100 million. Hard disk shipments were also reduced by 7 million, which is equivalent to only 88% of its competitors.

The European Commission announced on October 19 that it had approved Seagate’s acquisition of Samsung’s hard drive business under the “EU M&A Rules”. Seagate will continue to cooperate with other regulatory agencies to complete the remaining approvals in the coming weeks. It is expected that the transaction will be completed by the end of 2011.