Seagate Technology Inc.: The Scotts Valley-based computer...

Seagate Technology Inc.: The Scotts Valley-based computer disk drive maker, facing a slowdown in demand and a price war, has reported a $47.8-million loss for the first quarter, contrasted with a $13.9-million profit the year before.

Seagate said the loss announced late Thursday amounted to 72 cents a share. The company had a profit of $13.9 million, or 22 cents a share, for the same quarter of last year.

The loss included $15.9 million in charges related to restructuring, the company said. During the past three months, Seagate has laid off more than 1,600 employees and put off plans for a new plant in Ireland.

Sales for the period ending Sept. 30 were $620 million, down 1.6% from $630 million the year before.

Seagate and other disk drive makers are suffering from slowing computer sales and fierce price competition.