Seagate's sales, profit slide

Investor's Business Daily

The world's largest disk drive maker reported lower fiscal Q1 profit and sales late Mon., missing views. Seagate (STX) said EPS, excluding items, fell 11% to $1.29, a penny below analyst estimates. Revenue dipped 7% to $3.49 bil vs. analyst projections for $3.56 bil. Seagate also named Dave Mosley president of operations and technology, and Rocky Pimentel president of global markets and customers. Shares fell 5% in early after-hours trading after closing up less than 1%.

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