Seagate Technology Reports Fiscal Second Quarter 2010 Results
- Quarterly revenue of $3 billion
- Net income of $533 million
- Record unit shipments of 49.9 million
SCOTTS VALLEY, Calif. - January 20, 2010 - Seagate Technology (NASDAQ: STX) today reported financial results for the quarter ended January 1, 2010 of 49.9 million disk drive unit shipments, revenue of $3.03 billion, gross margin of 30.5%, net income of $533 million and diluted earnings per share of $1.03. The financial results for the quarter include $10 million of purchased intangibles amortization expense or approximately $0.02 per diluted share.
For the six months ended January 1, 2010 the company reported 96.2 million disk drive unit shipments, revenue of $5.69 billion, gross margin of 27.7%, net income of $712 million and diluted earnings per share of $1.38. The financial results for the six months ended January 1, 2010 include $20 million of purchased intangibles amortization expense, $46 million of restructuring costs and a write down of long-lived assets of $64 million. The aggregate impact of these expense items is $130 million or approximately $0.25 per diluted share.
"Our strong financial performance in the December quarter was the result of our ongoing progress in driving operational efficiencies, our leadership position in high capacity, high performance products, an improved product mix and the overall strength of demand for digital storage," said Steve Luczo, Seagate CEO.
Additional information relating to the financial results for the fiscal second quarter of 2010 can be found online at seagate.com.
Seagate will hold a conference call to review the fiscal second quarter results at 2:00 p.m. Pacific Time today. During today's conference call, the company will provide an outlook for its third fiscal quarter of 2010, including key underlying assumptions.
The conference call can be accessed online at seagate.com or by phone as follows:
USA: (866) 713-8562
International: (617) 597-5310
Participant Passcode: 79349419
A replay will be available beginning today at 6:00 p.m. Pacific Time. The replay can be accessed from seagate.com.
Seagate is the world leader in hard disk drives and storage solutions. Learn more at seagate.com.
Latest News Posts
- Microsoft HoloLens dev kits will be $3,000, ships in Q1 2016
- 'Tobiwan', Soe and 'Maelk' to headline MLG $500,000 2015 World Finals
- Thecus adds 8TB Seagate HDD support to their NAS range
- Sony expected to drop the PS4 price down to $350 for the holidays
- New Star Wars Battlefront footage arrives with Luke vs Darth Vader
- SSI EEB support for Lian Li high end chassis
- Need help with a build
- Force M7 Thor Mouse does not wake system?
- Topic: X99E-ITX/ac with 32GB ram
- Buffalo TeraStation 5200 Windows Storage Server Review
- The Crew WILD RUN PC CLOSED BETA WILL BE PLAYABLE FROM OCTOBER 15TH TO OCTOBER 19TH 2015
- MLG Announces Broadcast Talent for World Finals in New Orleans
- Patriot Announces New Viper 4 3600MHz Dual-Channel Memory Kit
- Supermicro Launches New 1U TwinPro Fully Redundant, Dual DP Node, SuperServer
- AMD Partners with Oculus and Dell to Power Oculus Ready PCs