>> Seagate to Roll Out Eleven New Products [WSJ6/7Page B4]
Oh, who cares about Seagate. This is the one to watch.
sec.gov
Item 9. Regulation FD Disclosure
In meetings this week with institutional investors and analysts and hard drive industry participants, officials of the Company expect to provide an update on certain current conditions in the hard drive industry and on its share repurchase program.
Specifically, the Company will indicate the following regarding the environment in the desktop hard drive industry thus far in the June quarter:
Overall conditions reflect the typical soft seasonality of the June quarter;
Previously cited pricing at PC OEM customers remains aggressive;
Conditions in the industry's distribution channel are balanced: weeks of inventory are within the previously stated manageable range of four to six weeks, and the Company's total inventory is at about the same level as when it began the quarter; and
As is typical historically, demand and pricing dynamics in the month of June will determine the Company's financial performance for the quarter.
Regarding its share repurchase program announced on May 5, 2004, the Company has repurchased 1.9 million shares at a total cost of $16 million, or at an average weighted cost of $8.29 per share.
Additionally, the Company will indicate that its specific initiatives, such as the ramp of internal head production, 2.5 inch mobile hard drive development, SATA enterprise, and consumer electronics activities, are all on track. |
