Seagate Technology ( STX) swung to a fourth-quarter loss as revenue fell due to industrywide pricing pressure.

The hard disc-drive maker said after the bell Tuesday that it lost $33 million, or 7 cents a share, compared with earnings of $160 million, or 33 cents a share, in the same period last year.

Excluding $39 million in restructuring costs and its associated tax impact in the latest quarter, the company's net income would have been $4 million, or a penny a share. On this basis, a Thomson First Call consenus analyst survey was expecting break-even EPS.

Sales fell to $1.34 billion from $1.55 billion a year earlier, but were slightly above the Street's estimate of $1.3 billion.

Gross margin fell to 17.1% from 21.7% in the previous quarter, due to the continuation of price erosion. The company said decline in the average unit price during the quarter on a blended basis for all Seagate products was about 5%.

Looking ahead, Seagate said the hard disc-drive industry is still facing "challenging times" as a result of longer product cycles, aggressive pricing and multiple competitors vying for customer demand. However, the company believes the industry is beginning to show some signs of improvement.

The company said its restructuring coupled with the anticipated increase in customer demand in the September quarter and the company's recent product announcements give the company greater confidence in its ability to operate profitably in the first quarter, compared with its outlook at the beginning of the most recent quarter.

Additionally, the company expects financial improvement during the fiscal year as new products ramp to volume and the potential for more balanced industry dynamics emerge, there should be ongoing financial improvement during Seagate's fiscal year.

Shares of Seagate closed up 45 cents, or 3.25%, to $14.30.

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