The emanations from the Scotts Valley, California home of Seagate Technology Corp are getting more apocalyptic and the company now says it expects turnover for its fiscal fourth to June 30 to be below the $668m reported for the comparable year-ago quarter, but above the $630m reported for the first quarter of the current fiscal year; the company says that severe price erosion as a result of intense competition from other diskdrive vendors, a general softness in the available market for its products and product transitions have reduced revenue and gross margins to unanticipated low levels – and, the sting comes in the tail – Consequently, results for the quarter will be, at best, marginally profitable, it said.
