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Seagate Posts 3Q Loss, Lower Sales

Stock quotes in this article: STX  

SCOTTS VALLEY, Calif. (AP) — Hard drive maker Seagate Technology posted a fiscal third-quarter net loss Tuesday, reversing a year-ago profit as sales dropped amid the global economic turmoil.

For the three months ended April 3, the company posted a net loss of $273 million, or 56 cents per share, down from a profit of $344 million, or 65 cents per share, a year earlier.

The latest quarter's results included 11 cents per share in special items — without these the company lost 45 cents per share. ...

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