- Annual revenue grows 12%; quarterly revenue grows 6% year-over-year
- Annual net income increases to $1.3 billion
- Annual shipments grow 15% to 183 million
- Quarterly shipments up 10% to 43 million year-over-year

SCOTTS VALLEY, CA - July 15, 2008 - Seagate Technology (NYSE:STX) today reported disc drive unit shipments of approximately 43 million, revenue of $2.9 billion, GAAP net income of $160 million, and diluted net income per share of $0.32 for the quarter ended June 27, 2008. GAAP net income and diluted net income per share includes approximately $23 million of purchased intangibles amortization and other charges associated with Seagate’s recent acquisitions. Excluding these items, non-GAAP net income and diluted net income per share were $183 million and $0.37, respectively. Included in both GAAP and non-GAAP results are restructuring charges of approximately $36 million or approximately $0.07 per share.

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