reported first-quarter earnings that beat analysts' expectations by 5 cents a share.
The company said income for the first quarter ended Sept. 29 was $62 million, or 26 cents a share, excluding gains on the sale of investments in equity securities. According to a
First Call/Thomson Financial
survey, six analysts expected Seagate to earn 21 cents a share for the quarter. Seagate earned 7 cents a share in the year-ago period.
Revenue for the period rose 4% to $1.75 billion from $1.68 billion last year.
Seagate said in March it planned to take itself private through a transaction with
Silver Lake Partners