Seagate bumps first fiscal quarter earnings release due to Sandy

With the markets and trading floor shut down still, Seagate is bumping back its earnings announcement.
Written by Rachel King, Contributor

This might not come as much of a surprise given the extreme weather conditions on the Eastern Seaboard, but Seagate is postponing its first fiscal quarter earnings announcement.

The hard drive maker originally scheduled its financial results and quarterly conference call for Tuesday.

But the Cupertino, Calif.-based company issued a brief statement this morning that it will be bumping that announcement back to tomorrow, October 31 "due to the impact of the storm on the East Coast of the United States."

The financial markets in New York City have been closed on Monday and Tuesday as much of Lower Manhattan has been flooded and lost power. But the New York Stock Exchange is expected to reopen on Wednesday.

If you're planning to tune into the call, note the significant time change as today's event was supposed to take place after the bell.

The release will now be published at approximately 5:00 AM PT/8:00 AM ET with the subsequent conference call at 5:30 AM PT/8:30 AM ET.

Following a disappointing fourth fiscal quarter, Wall Street is expecting Seagate to report a revenue of $3.75 billion with earnings of $1.67 per share.

Nevertheless, there are a few other tech companies that reported earnings on Tuesday.

MetroPCS reported a third quarter revenue of $1.3 billion, or $0.52 a share -- over Wall Street expectations of $1.25 billion. Asus also chimed in with a Q3 net income of $229 million compared analysts' forecast of $185 million.

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