Hard drive vendor Seagate Technology has hailed its full-year financial results as record-breaking, despite a shaky final quarter performance.
The vendor achieved revenues of $11.4bn (£7.48bn), a net income of $1.61bn (£1.06bn) and shipped 193.2 million disk drive units during its financial year, which came to a close on July 2.
Seagate chief executive Steve Luczo, said he felt very encouraged by the company’s financial results.
"In fiscal year 2010, we delivered record shipments, profitability and operating margin," he said. "The company responded well to the increase in global hard drive demand and remained focused on improving key business fundamentals to position Seagate for future growth."
However, Luczo hinted that the results achieved during the final quarter of its financial year were lower than expected, despite the fact the firm shipped 46.8m hard disk drives and generated revenues of $2.66bn (£1.75bn).
"Specific to our fiscal fourth quarter, two of our key assumptions did not materialize as expected and impacted [on] our financial results," said Luczo.
"Industry demand in the fiscal fourth quarter was at the low end of our expectations due to issues emanating from the debt crisis in Europe and slowing consumer spending."
Firm says enterprise business has performed 'weaker than originally expected'
Top executives from nine VARs, including Computacenter, Bell Integration, XMA, ANS and Epaton, weigh in on which server, storage and networking technologies will be red hot next year
Are partners encouraged by the big changes coming to Cisco next year? Josh Budd, content editor of CRN sister publication Channelnomics Europe, finds out
Thomas Kurian will join the company next week and transition into the top role in January