Seagate Technology Reports Fiscal First Quarter 2011 Results
Posted: Thu Oct 21, 2010 6:49 am
Seagate Technology Reports Fiscal First Quarter 2011 Financial Results
SCOTTS VALLEY, Calif., Oct 20, 2010 (BUSINESS WIRE) -- Seagate Technology plc (STX 15.13, -0.08, -0.53%) today reported financial results for the quarter ended October 1, 2010. The company shipped 49.2 million disk drives and on a GAAP basis reported revenue of $2.7 billion, gross margin of 20.4%, net income of $149 million and diluted earnings per share of $0.31. On a non-GAAP basis, which excludes the impact of purchased intangibles amortization, restructuring and costs related to the redemption of the Maxtor convertible notes, Seagate reported net income of $180 million and diluted earnings per share of $0.37.
For reconciliation of non-GAAP to GAAP results, see accompanying financial tables.
Investor Communications
Seagate will hold a conference call to review its first fiscal quarter results today at 2:00 p.m. Pacific Time. The conference call will consist of opening comments from Steve Luczo followed by a question and answer session with the executive management team.
Due to regulatory requirements the company will not at this time be providing any additional information concerning the preliminary indication of interest regarding a going private transaction that was disclosed on October 14, 2010, and the company will not provide, discuss or answer questions regarding the outlook for the December quarter or any future fiscal periods. Further, in view of these regulatory requirements, the company will not be hosting individual meetings with investors or analysts (either in person or via conference call) until further notice.
Seagate has issued a Supplemental Commentary document. The Supplemental Commentary will not be read during today's call, but rather it is available in the investor relations section of seagate.com.
Conference Call
The conference call can be accessed online at seagate.com or by phone as follows:
USA: (866) 362-4666 International: (617) 597-5313 Participant Passcode: 56698262
Replay
A replay will be available beginning today at 6:00 p.m. Pacific Time. The replay can be accessed from seagate.com.
About Seagate
Seagate is the world leader in hard disk drives and storage solutions. Learn more at seagate.com.