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SAN JOSE, Calif. (AP) - Seagate Technology LLC, the world's largest maker of hard-disk drives, had record revenue for its fiscal second-quarter but saw earnings fall 51 percent because of acquisition costs.
In the three months ended Dec. 29, net income was $140 million, or 23 cents a share, on sales of $3 billion. That compares with $287 million, or 57 cents a share, on revenue of $2.3 billion in the year-earlier period.
Excluding a $76 million charge related to the company's acquisition of Maxtor and a $19 million charge for the early retirement of some debt, Seagate said it would have earned $236 million, or 39 cents per share.
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