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Hard disk maker Seagate quarterly revenue slides 24 percent

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(Globalpost/GlobalPost)

(Reuters) - Hard disk drive maker Seagate Technology Plc reported a two-thirds drop in quarterly profit as revenue slid 24 percent.

Net income fell to $348 million, or 94 cents per share in the fourth quarter, from $1.01 billion, or $2.37 per share, a year earlier.

Revenue for the company, which dominates the hard drive market along with rival Western Digital, fell to $3.43 billion from $4.5 billion a year earlier.

(Reporting by Sruthi Ramakrishnan in Bangalore,)

http://www.globalpost.com/dispatch/news/thomson-reuters/130724/hard-disk-maker-seagate-quarterly-revenue-slides-24-percent