News

Scottsdale, Calif.-Seagate Technology (NYSE: STX) today announced that disk drive unit shipments were approximately $50 million, revenue was $3.4 billion, and GAAP net income was $403 million. The diluted net income was $403 million. Earnings per share for the quarter ended December 28, 2007 was $0.73. GAAP net income and diluted net income per share include approximately $31 million in intangible assets purchased, amortization and other HARGES related to Maxtor, eVault and MetaLINCS acquisitions, and net income from asset sales of approximately $15 million. Excluding these items, non-GAAP net income and diluted net income e $419 million and $76 per share. The results included in generally accepted accounting principles and non-GAAP are restructuring costs of approximately $27 million or approximately $0.05 per share.

For the six months ended December 28, 2007, Seagate reported revenues of $6.7 billion, GAAP net income of $758 million, and diluted net income per share of $1.37. GAAP net income and diluted net income include amortization of intangible assets purchased for approximately $61 million per share and other expenses associated with acquisitions of Maxtor, eVault and MetaLINCS, and net income from asset sales. About $15 million. Excluding these items, non-GAAP net income and diluted net income per share were $804 million and $1.45, respectively. Included in the GAAP and non-GAAP results is the recombinant cha. Approximately $32 million or approximately $0.06 per share.

Seagate's strong financial results for the quarter reflect the company's robust business model and expanded product portfolio, which put us in a favorable industry environment. Seagate CEO Bill Watkins said: "This trend has been erased due to the seasonal strength of all storage markets and the continued growth in global demand." "This season, Seagate achieved a record Shipment volume S and experienced some capacity limitations, highlighting the phenomenal growth of digital content in the consumer and commercial markets. We entered t according to the unit needs of all categories. He was very much in the quarter of March. There is strength. The warehousing industry is still one of the most important and exciting industries in the world. We are confident that Seagate's vision, technology and operations are improving. Lance will drive us to maintain strong financial and operational operations in the March quarter. Performance and double-digit year-on-year growth."

Adjustments to GAAP net income and diluted net income per share can be found after the financial statements set out in this press release. Supplementary information related to finance The results for the second fiscal quarter of 2008 can be found on seagate.com.

Economic Outlook
Seagate expects earnings in March to be between $3.2 billion and $3.3 billion, and GAAP diluted net income per share from $0.57 to $0.61. Excluding intangible assets purchased for approximately $27 million a. Includes ethical and other expenses related to past closed acquisitions including MetaLINCS. Non-GAAP diluted 3Q net income per share is expected to be $0.66 in the range of $0.62 . At this point, the guide represents a 15% year-on-year increase in revenue, and 36% of non-GAAP diluted earnings per share increased year-on-year.

This guide does not cover the impact of any future acquisitions, stock repurchases or restructuring activities that the company may undertake.

Dividends and share repurchases
The company announced that as of February 1, 2008, the company will pay a dividend of $0.10 per share to all recorded common shareholders on or before February 15, 2008.

During the quarter ended December 28, 2007, the company repurchased approximately 9.3 million shares of common stock related to its share repurchase program. The average price of the stock delivered to t was $27.00 for his company in the December quarter. Under the current share repurchase program, the company has the right to purchase additional shares of approximately $474 million. Use the remaining licenses during the March quarter.

telephone conference

Seagate will hold a conference call at 2:30 pm to review the second quarter results. Today is Pacific Time. The conference call is available online at seagate.com or by phone, as detailed below:

USA: (877) 223-6202
International: (706) 679-3742
Conference Number: 28131131

Replay, Replay The
replay will begin at 6:30 pm today. At 8:59 pm on January 24th, Pacific Time. Pacific time. Replays can be accessed from seagate.com or by phone, as detailed below:

USA: (800) 642-1687
International: (706) 645-9291
Session Number: 28131131

About Seagate
Seagate creates space for human experience by storing, sharing and using innovative data. Seagate has leading data storage technology products including: hard disk, HDD mechanical hard disk , SSD solid state hard disk , mobile hard disk and so on.

China Seagate official website: https://www.seagate.com/cn/zh

Notice regarding forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934 as amended. These forward-looking statements include, but are not limited to, statements relating to the company's future operations and financial performance, including expected revenue, net profit, and diluted EA. Earnings per share (adjusted according to generally accepted accounting principles and non-GAAP), price and product competition, customer demand for our products, and general market conditions. These forward-looking ING statements are based on Seagate's information available on the date of this press release. Current expectations, forecasts and assumptions involve a number of risks, uncertainties and other actors that may cause actual results to differ materially from those anticipated by these forward-looking statements. This risk, uncertainty and other factors may be beyond the company's control. . In particular, these risks and uncertainties include the impact of variable demand and the aggressive pricing environment of disk drives; depending on Seagate's successful ability to produce and sell its optical drive products, on a cost-effective basis, Accepted quality, especially new disk drive products, lower cost structure; competitive product announcements for specific disk drive products and possible excess supply of industry CT; and market conditions and alternative cash and necessary measures that may have an impact Our ability to buy back shares. Information about risks, uncertainties, and other factors that may cause results to differ materially from those predicted in the forward-looking statements. It is contained in the 10-K annual report submitted by the company to the US Securities and Exchange Commission on August 27, 2007, and the quarterly report submitted by the company on Form 10-Q. The US Securities and Exchange Commission, on October 29, 2007, the statement was incorporated into this press release for reference. These forward-looking statements should not be used as a basis for re-dependence. Seagate is under no obligation to update forward-looking statements to reflect the date of the event or situation.

 

 

 

 

 

Our business performance has undergone major changes in the past few years, the most important of which is related to our acquisition of Mike. Helping readers understand condensed matter F Financial statements prepared in accordance with generally accepted accounting principles provide a better understanding of our past financial situation and our expectations for future performance. We supplemented our disclosures after making certain non-GAAP accounting standards. Standards, non-GAAP net income and non-GAAP diluted earnings per share. We also forecast these non-GAAP financial measures. Adjustments to GAAP net income and DLOUT adjustments are listed below. The net income per share for the quarter and the quarter to date. In addition, how our board and management use these non-assessed GAAP financial measures, our management decided to use the substance and use of these non-GAAP financial measures Substantive limitations related to these non-GAAP financial measures - generally accepted accounting principles, financial measures, the way in which Seagate management compensates for these restrictions, and the financial reasons we believe these non-GAAP financial measures are useful in the following areas: US Securities The “Use of Non-GAAP Financial Measures” heading in the 8-K form provided by the Securities and Exchange Commission (SEC) today includes the composition of the investor. This additional non-GAAP fin financial information does not imply an isolated consideration or replacement of net income or diluted net income per share under generally accepted accounting principles. You should not compare our non-GAAP earnings per share or non-GAAP diluted net income with the results of other companies, as the adjustments made to our GAAP results are unique to Seagate.

Seagate creates space for human experience by storing, sharing and using innovative data. Seagate has leading data storage technology products including: hard disk, HDD mechanical hard disk, SSD solid state hard disk, mobile hard disk and so on.

China Seagate official website: https://www.seagate.com/cn/zh