Seagate Technology Reports Fiscal Third Quarter 2012 Financial Results

[Cristian_25H]

Seagate Technology plc today reported financial results for the quarter ended March 30, 2012. The company reported revenue of $4.4 billion, gross margin of 37%, net income of $1.1 billion and diluted earnings per share of $2.48. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported net income of $1.2 billion and diluted earnings per share of $2.64.

The company generated approximately $938 million in cash from operations, paid cash dividends of $112 million and used approximately $1.1 billion to repurchase 43.1 million shares of common stock and for the early retirement of debt.



For a detailed reconciliation of GAAP to non-GAAP results, see accompanying financial tables.

"Seagate delivered strong performance this quarter by concentrating our efforts toward supporting our customers as the recovery of the hard drive industry continues to progress," said Steve Luczo, Chairman, President and CEO. "Importantly, during this challenging period, Seagate has successfully transitioned its portfolio to industry-leading products across all markets thereby positioning the company for continued leadership through operational excellence."

Dividend

The Board of Directors has approved a quarterly cash dividend of $0.25 per share, which will be payable on May 17, 2012 to shareholders of record as of the close of business on May 2, 2012. The payment of any future quarterly dividends will be at the discretion of the Board and will be dependent upon Seagate's financial position, results of operations, available cash, cash flow, capital requirements and other factors deemed relevant by the Board.

Investor Communications

Seagate management will hold a public webcast to review its third fiscal quarter today at 3:00 p.m. Pacific Time on its Investor Relations website at http://www.seagate.com/investors/. During today's conference call, the company will provide an outlook for its fourth fiscal quarter of 2012 and its view of the remainder of the calendar year, including key underlying assumptions. Seagate is planning an investor and analyst meeting on September 21, 2012 to discuss the Company's longer-term strategic plan.

[LGV]

The massive flooding in Thailand the other month may have affected the supply of hard disk drives globally and it’s expected that prices of storage devices will increase in the following months.
Congrats Seagate! Worked!

Cant build a decent PC since thet flood.
Thank you!

[FreedomEclipse]

Originally Posted by LGV

The massive flooding in Thailand the other month may have affected the supply of hard disk drives globally and it’s expected that prices of storage devices will increase in the following months.
Congrats Seagate! Worked!

Cant build a decent PC since thet flood.
Thank you!

there was another flood?

[LGV]

Price flood.

[FreedomEclipse]

I think youre confused, prices have been slowly dropping. They are much more affordable compared to 6 or 8months ago.

[LGV]

Originally Posted by FreedomEclipse

I think youre confused, prices have been slowly dropping. They are much more affordable compared to 6 or 8months ago.

On your country maybe http://www.argep.hu/trend/SEAG/Seagate-hdd-1tb.html
23300/230 thets 100dollar right now for a 1gig ( cheapest!) thets a year ago, less then 40.

[Andy77]

Originally Posted by LGV

On your country maybe http://www.argep.hu/trend/SEAG/Seagate-hdd-1tb.html
23300/230 thets 100dollar right now for a 1gig ( cheapest!) thets a year ago, less then 40.

That's due to supplier overstock... happened here est of you something alike, until a month ago prices were lowish, or lower compared to western markets, because of high inventory of older parts but after that got cleared the suppliers didn't bother to purchase expensive parts and most shops now list a lot of HDD as out of stock, all that is available are the models that were higher priced and didn't get sold or new models, albeit few, priced really high like in your case. In countries where hardware is sold fast and in quantities prices are coming down, the expensive inventory getting cleared slowly but surely but for us, it all depends on the supplier's business skills... if they feared high-demand and bough lots of expensive inventory it will take a while before that gets cleared, but if they waited this wave to pass and hoped to be able to get cheaper inventory, now they might resupply at reasonable prices.

[bmaverick]

So, the take profit is about 1.2 billion.

Then cash dividends to the share holders ...

Finally repurchase some out standing stock to have the stock price rise ...

This leaves about 0.1 billion of money to hold for a rainy day.

[ColdRush]

Keep milking it seagate.