Seagate for its fourth quarter and for the fiscal year 2012, which ended June 29. The quarter was down compared to the previous quarter, but the company for the full year saw revenues up 36%.

Seagate lost its disk drive market share lead to Western Digital (WD) last quarter. WD reported record earnings last week, from flooding last year at its Thailand-based drive factories.

During the fourth quarter, Seagate reported revenue of approximately $4.5 billion, with a gross margin of 33.1% -- up just 1.9% over the previous quarter. The company had originally expected $5 billion in revenue for the quarter. Net income for the quarter was $1 billion, with a diluted earnings per share of $2.37.

For the entire fiscal year of 2012, Seagate reported revenue of $14.9 billion, 36% over the prior fiscal year. Much of that increase was attributed to WD's flooding problems. Seagate's diluted earnings per share for the year were $6.75, also a significant increase in profitability over the prior year, the company said.

During its fourth quarter, Seagate announced an agreement to acquire consumer external drive company LaCie. Seagate said the purchase will give it increased access to "premium retail channels." Seagate also announced the acquisition of Samsung's drive business and a joint development agreement with Densbits to make new consumer and enterprise-class solid-state drives (SSDs). The company also became the first drive maker to demo SSDs with the new 12Gbps SAS standard.