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Seagate Releases Preliminary Results for Fiscal Second Quarter 2013

Seagate Releases Preliminary Results for Fiscal Second Quarter 2013

Seagate Technology recently released its preliminary financial results for its fiscal second quarter of 2013, which ended on 28 December 2012.

According to Seagate, the company expects a fiscal second quarter 2013 revenue of at least USD3.6 billion and gross margin of more than 27%, reflecting upon unit shipments of approximately 58 million and market share maintenance. These results exceed the company's previous expectations of a revenue gain of USD3.5 billion and gross margin at the lower end of the company's non-GAAP gross margin range of 27% to 32%.

The company also paid USD1.1 billion in share redemptions and dividend payments that included a one-time acceleration of December 2012 quarter dividend payment. Cash, cash equivalents, restricted cash and short term investments for the company totaled at approximately US$2.0 billion by 28 December 2012.

Seagate will be giving a report on the full fiscal second quarter 2013 on 28 January 2013 after the markets close. A conference call for the investment community can be accessed online at www.seagate.com/investors at 2.00pm Pacific Time.

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