Seagate Technology Reports Fiscal Second Quarter 2012 Financial Results

Seagate Technology plc (NASDAQ: STX - News) today reported financial results for the quarter ended December 30, 2011. The company shipped 47 million disk drives and reported revenue of $3.2 billion, gross margin of 31.6%, net income of $563 million and diluted earnings per share of $1.28. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported net income of $581 million and diluted earnings per share of $1.32 for the quarter ended December 30, 2011.

For the six months ended December 30, 2011, the company reported revenue of $6.0 billion, gross margin of 26.0%, net income of $703 million and diluted earnings per share of $1.61. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported net income of $727 million and diluted earnings per share of $1.67.

Commerce Resources Corp. Intersects 325.31 m of 1.96% TREO, and 90.38 m of 2.21% TREO at the Ashram Deposit, Northern Quebec

Commerce Resources Corp. (TSXv: CCE.V ), (FSE: D7H.F ), (OTCQX: CMRZF.PK ) (the "Company" or "Commerce") is pleased to report the results for four drill holes completed during the summer/fall exploration program at the Ashram Rare Earth Element ("REE") Deposit, at the Eldor Project in northern Quebec.

As drilling progresses north, significant REE mineralization continues to be intersected at surface down to considerable depths.

Highlights are as follows:

• Drill Hole EC11-084:    325.31 m of 1.96% Total Rare Earth Oxides (TREO)

  Published: 27 January 2012

  Written by Editor

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