October 31, 2012 / 12:20 PM / 5 years ago

Seagate 1st-qtr profit quadruples

Oct 31 (Reuters) - Storage device maker Seagate Technology Plc’s first-quarter profit quadrupled and revenue rose by a third.

In the same quarter last year, Seagate’s results were hit by flooding that affected their factories in Thailand.

First-quarter net income rose to $582 million, or $1.42 per share, from $140 million, or 32 cents per share.

Excluding one-time items, Seagate earned $1.45 per share.

Quarterly revenue rose to $3.73 billion.

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