Seagate Named 2006 Company Of The Year By Forbes Magazine

Seagate Named 2006 Company Of The Year By Forbes Magazine

Seagate Technology (NYSE:STX) today announced it has been honored with the title of “2006 Company of the Year” in the January 9 issue of Forbes Magazine. In selecting Seagate as its cover story, Forbes lauds the company’s performance against that of 1,000 other publicly traded companies and ranked Seagate as the best of the best.

According to Forbes, Seagate is the biggest and most efficient stand-alone hard-drive maker in the world. Its $925 million net for the past 12 months was three times what its two nearest competitors earned, combined. Its revenue in 2005 climbed 21% to $7.5 billion…For 2006 analysts expect sales to approach $9 billion. By redefining storage as a sexy, high-growth, high-return business, Seagate earns its title as the Forbes Company of the Year.

“This accolade is a tribute to the thousands of Seagate employees around the world who have worked to put hundreds of millions of our hard drives in everything from notebook computers and PCs to servers, music players, TVs, gaming consoles, digital cameras and cars,” said Bill Watkins, Seagate president and chief executive officer. “They have made Seagate not only the leader in hard drives, but now recognized as one of the best, most innovative and most efficient companies in the world.”

Read the complete Press Release