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
- AMD rumored to launch Vega 10 with HBM2 later this year
- AMD gaining discrete GPU market share from NVIDIA
- This fan made 'Indiana Jones' animated short rocks
- Cyberpunk 2077 has 'huge living cities,' real-time AI
- Quantum Break on Steam missing SLI support, DirectX 12
- ASUS X99-Deluxe II Motherboard Review
- U.2 Kit on Taichi
- Z170X-Gaming 5 - Thunderbolt controller + Intel RST drivers issue.
- Palit GeForce GTX 1070 GameRock Premium Edition Review
- GA-EX58-UD3R Vt-d support
- Antec and Razer team up to co-brand a new Mini-ITX gaming chassis
- Samsung Electronics accelerates the NVMe era for consumers with its highest performing 960 PRO and EVO Solid State Drives
- Lighting is in the Aer: NZXT launches Aer RGB, premium LED PWM fans
- Syber Gaming delivers VR and 4K-ready 'C Series' small form factor gaming PC
- HyperX Gears of War gaming headset shipping now