Nov 19, 1996

NYSE Chairman Grasso Applauds Seagate's Blue Chip Status

LAS VEGAS - Seagate's substantial growth and continued profitability in the highly competitive technology market has earned the company's stock a "blue chip" rating. Richard Grasso, Chairman and Chief Executive, NYSE, applauded the technology company's "blue chip" status at Fall COMDEX, the technology industry's largest trade show.

Why:

Seagate's overall management, products and services combined with a history of sustained earnings and profitability put its stock on par with other "blue chip" technology companies including IBM, Hewlett-Packard, Dupont, General Electric and General Motors.

A "blue chip" rating is associated with stock that offers a lower-than-average risk of loss of principal or reduction in income. While many technology stocks are notoriously volatile, Seagate stock has consistently performed well, with $8.6 billion in annual revenue, Total Assets in excess of $5 billion, Annual Net Income of $522 million, and Stockholders Equity topping more than $2.6 billion.

In the disc drive industry, Seagate is the:

  • Leader in revenues
  • Leader in profits
  • Leader in EPS
  • Leader in gross margin
  • Leader in operating margin
  • Leader in net margin
  • Leader in R&D expenditure
  • Leader in capital investment
  • Leader in technology ownership
  • Leader in ownership of manufacturing assets
  • Leader in cash
  • Leader in net cash
  • Leader in equity

    Who:

    Seagate Technology, Inc. is a leading data technology company providing products for storing, managing and accessing digital information. Seagate develops and manufactures some of the industry's most advanced information technologies, including disc and tape storage devices, magnetic recording heads and media, precision motors, data access and management software, and microelectronics.

    When:

    Tuesday, November 19th, 1996

    Where:

    COMDEX Technology Trade Show
    Las Vegas, Nevada

    Video: The New York Stock Exchange will carry the event on its November 20th NYSE Video
    News Brief: The News Brief will be available at 2:30 EST from the following satellite coordinates: Telstar 401 Transponder 19.

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    Seagate Technology, Inc. is a leading provider of technology and products enabling people to store, access, and manage information. The Company is committed to providing best-in-class products to help people get information when, where and how they want it. Seagate is the world's largest manufacturer of disc drives, magnetic discs and read-write heads, an innovator in tape drives, and a leading developer of Enterprise Information Management software. For automated news, stock and financial information by phone, dial toll-free 877-SEG-NYSE. Outside the U.S. and Canada, dial 760-704-4368.

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    Seagate and Seagate Technology are registered trademarks of Seagate Technology, Inc. All trademarks are the property of their respective owners.