China, Beijing, the world's leading provider of hard disk and storage solutions Seagate Technology (NASDAQ: STX) recently released its financial report for the third fiscal quarter of fiscal 2014 as of March 28, 2014. The company's third-quarter revenue was approximately $3.4 billion, with a gross profit margin of 28.2%, a net profit of $395 million, and a diluted earnings per share of $1.17. Based on non-GAAP, which excludes the impact of certain projects, Seagate's gross profit margin is 28.5%, net profit is $453 million, and diluted earnings per share are $1.34.
In the third quarter, Seagate operated cash flow of approximately $443 million, paid a cash dividend of $140 million, and repurchased nearly $184 million in 3.5 million shares of common stock. As of the end of the third quarter, the company issued 326 million shares of common stock outstanding. As of the end of the third quarter, the company's total cash, cash equivalents, limited-use cash and short-term investments were approximately $2.3 billion.
Seagate Technology Chairman and CEO Steve Luczo said: "Seagate's third-quarter financial report shows that the company has maintained a good execution in a changing market environment. Seagate has increased its investment in the market-leading product portfolio Drive the transition to ultra-large scale, high performance and mobile storage to lead the growing storage industry. In addition, we will continue to focus on maintaining efficient operational execution with conservative demand forecasting and supply management."
Seagate has published a supplemental comment that was not read out on the conference call and can be accessed by visiting the investor relations page at www.seagate.com/investors .
Quarterly cash dividend
The Board of Directors has approved a quarterly cash dividend of $0.43 per share and will be paid on May 28, 2014 to all shareholders registered at the close of trading on May 14, 2014. Future quarterly dividend payments will be determined by the company's board of directors based on Seagate's financial condition, operating results, available cash, cash flow, capital requirements and other relevant factors identified by the board of directors.
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