Seagate: Fiscal 2Q11 Financial Results
Sales, unit shipments and profit fall.
This is a Press Release edited by StorageNewsletter.com on January 20, 2011 at 3:19 pm| (in US$ millions) | 2Q10 | 2Q11 | 6 mo. 10 | 6 mo. 11 |
| Revenues | 3,027 | 2,719 | 5,690 | 5,417 |
| Growth | -10% | -5% | ||
| Net income (loss) | 533 | 150 | 712 | 299 |
Seagate Technology plc reported financial results for the quarter ended December 31, 2010.
The company shipped 48.9 million disk drives and on a GAAP basis reported revenue of $2.7 billion, gross margin of 19.5%, net income of $150 million and diluted earnings per share of $0.31. On a non-GAAP basis, which excludes the net impact of purchased intangibles amortization and restructuring, Seagate reported net income of $159 million and diluted earnings per share of $0.33 for the quarter ended December 31, 2010.
For the six months ended December 31, 2010, the company reported on a GAAP basis revenue of $5.4 billion, gross margin of 19.9%, net income of $299 million and diluted earnings per share of $0.61. On a non-GAAP basis, which excludes the impact of purchased intangibles amortization and restructuring, Seagate reported net income of $339 million and diluted earnings per share of $0.70.
Comments
Abstracts of the earnings call
transcript:
Steve Luczo, chairman, CEO and president:
"For the March quarter, we are planning for the industry TAM to be
between 155 million and 165 million units. We expect revenue of $2.55
billion to $2.7 billion and gross margin of 18% to 19%."
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