Seagate Technology Reports Fiscal Second Quarter 2012 Financial Results

[Cristian_25H]

Seagate Technology plc today reported financial results for the quarter ended December 30, 2011. The company shipped 47 million disk drives and reported revenue of $3.2 billion, gross margin of 31.6%, net income of $563 million and diluted earnings per share of $1.28. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported net income of $581 million and diluted earnings per share of $1.32 for the quarter ended December 30, 2011.

For the six months ended December 30, 2011, the company reported revenue of $6.0 billion, gross margin of 26.0%, net income of $703 million and diluted earnings per share of $1.61. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported net income of $727 million and diluted earnings per share of $1.67. Seagate returned $151 million to shareholders in the form of a dividend and repurchased $191 million of Seagate ordinary shares which equates to approximately 13 million ordinary shares.



Acquisition of Samsung's Hard Disk Drive Assets

Seagate announced on December 19, 2011 the closing of the acquisition of the hard disk drive business of Samsung Electronics Co., Ltd. Related to this transaction, amortization of acquisition-related intangibles of $5 million (non-cash expense) is included in the GAAP basis net income for the fiscal second quarter and six months ended December 30, 2011. For Seagate's third fiscal quarter, which ends on March 30, 2012, it is expected that amortization of acquisition-related intangibles will be approximately $35 million.

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[FreedomEclipse]

Gross Margin of 31.6%. So much for production being down and having to rebuild your factories.

 

[Static~Charge]

Great way to shaft your customers, Seagate (and Western Digital, and Hitachi, and Samsung, and . . .). :shadedshu

 

[Static~Charge]

To put this in perspective:

Seagate slam-dunks flood-hit rivals with triple-profit Q2

"Revenues were $3.2bn and net income of $563m, which compares to $2.7bn revenue and $150m net income in the year-ago quarter. A 19 per cent increase in revenues, and profits over triple – 3.75 times as much, to be exact – those of the same quarter last year is a heck of a jump... especially in these Thai flood-straitened disk drive times."

 

[FreedomEclipse]

while we're talking about seagate here.... I RMA'd a Samsung Hard drive with them almost a month ago. however Seagate claim they havent recieved my drive.

However I came prepared just incase there was any shenanigans and gave them the tracking details as proof that someone at their service center had recieved and signed off for the delivery

they now have set up a Courtesy Exchange Order and I should be expecting a drive back some time next week.

Wether the drive has been genuinely missplaced or stolen by a member of staff in their service center. I really hope he or she has some industrial grade ear protection handy, because the amount of noise and vibration the drive makes, they are going to need it.


They said they were short of Samsung drives so I might be getting a seagate back. Fingers crossed i get a Samsung back, but if not then that Seagate will be up on fleabay before the courier even knocks on my door to get me to sign for the delivery.

Id rather waste £40-80 all on alcohol then on a seagate drive.