Seagate Cuts Forecast, Sees June Shipments 66M

Seagate Technology plc STX today announced selected preliminary financial results for its fourth fiscal quarter of 2012, which ended on June 29, 2012. Seagate expects to report record revenue of approximately $4.5 billion and non-GAAP gross margin of 33.6%. These preliminary results compare to the Company's previous expectations for revenue of at least $5 billion and non-GAAP gross margin of at least 34.5%.