Seagate: Preliminary Fiscal 4Q15 Financial Results
Lower revenue on weak demand
This is a Press Release edited by StorageNewsletter.com on July 14, 2015 at 3:09 pmSeagate Technology plc announced selected preliminary financial information for its fiscal fourth quarter of 2015, which ended on July 3, 2015.
The company expects to report revenue of approximately $2.9 billion and non-GAAP gross margin of approximately 27.0% for the fiscal fourth quarter 2015.
These preliminary results compare to the company’s previously forecasted range for fiscal fourth quarter of revenue of $3.2 to $3.3 billion and non-GAAP gross margin of approximately 28.5%.
The difference was driven primarily by lower than expected intra-quarter demand.
Non-GAAP operating expenses are expected to be approximately $530 million, below previously forecasted non-GAAP operating expenses of approximately $555 million.
Seagate expects to report unit shipments for the fiscal fourth quarter of approximately 45 million, maintaining approximately 40% market share and reflecting approximately 52EB.
Cash, cash equivalents, restricted cash and short term investments totaled approximately $2.5 billion at the end of the quarter.