- Quarterly revenue grows 14% year-over-year
- Quarterly net income increases 188% year-over-year
- Ships approximately 50 million units for the quarter, up 20% year-over-year

SCOTTS VALLEY, CA - January 17, 2008 - Seagate Technology (NYSE: STX) today reported disc drive unit shipments of approximately 50 million, revenue of $3.4 billion, GAAP net income of $403 million, and diluted net income per share of $0.73 for the quarter ended December 28, 2007. GAAP net income and diluted net income per share includes approximately $31 million of purchased intangibles amortization and other charges associated with the Maxtor, EVault and MetaLINCS acquisitions and also a net gain from asset sales of approximately $15 million. Excluding these items, non-GAAP net income and diluted net income per share were $419 million and $0.76. Included in both GAAP and non-GAAP results are restructuring charges of approximately $27 million or approximately $0.05 per share.

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