Seagate blew out estimates. Again. Estimates were for about .65/share, they made $1.03. GMs outta sight, over 30%. Stock is halted AH. Hope they do a CREE tomorrow!
Seagate Technology Reports Fiscal Second Quarter 2010 Financial Results
Quarterly revenue of $3 billion, net income of $533 million and record unit shipments of 49.9 million
01/20 04:01 PM
finance.yahoo.com
SCOTTS VALLEY, Calif.--(BUSINESS WIRE)-- Seagate Technology (STX:$17.76,00$-0.40,00-2.20%) 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 (STX:$17.76,00$-0.40,00-2.20%) CEO.
Additional information relating to the financial results for the fiscal second quarter of 2010 can be found online at seagate.com.
Conference Call
Seagate (STX:$17.76,00$-0.40,00-2.20%) will hold a conference call to review the 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: (800) 713-8562
International: (617) 597-5310
Participant Passcode: 79349419
Replay
A replay will be available beginning today at 6:00 p.m. Pacific Time. The replay can be accessed from seagate.com.
[Financial tables are in the original source, above.] |
