Seagate Technology PLC Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 30, 2011
January 31, 2012 at 09:08 pm
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Seagate Technology PLC reported unaudited consolidated earnings results for the second quarter and six months ended December 30, 2011. For the quarter, the company has reported revenues of $3,195 million compared to $2,719 million for the same period a year ago. Income from operations was $605 million compared to $206 million for the same period a year ago. Income before income taxes was $558 million compared to $175 million for the same period a year ago. Net income was $563 million compared to $150 million for the same period a year ago. Diluted EPS was $1.28 compared to $0.31 for the same period a year ago. Non-GAAP net income was $581 million or diluted EPS of $1.32.
For the six months, the company has reported revenues of $6,007 million compared to $5,417 million for the same period a year ago. Income from operations was $841 million compared to $438 million for the same period a year ago. Income before income taxes was $709 million compared to $328 million for the same period a year ago. Net income was $703 million compared to $299 million for the same period a year ago. Diluted EPS was $1.61 compared to $0.61 for the same period a year ago. Net cash provided by operating activities was $879 million compared to $752 million for the same period a year ago. Acquisition of property, equipment and leasehold improvements was $361 million compared to $560 million for the same period a year ago. Non-GAAP net income was $727 million or diluted EPS of $1.67.
Seagate Technology Holdings plc provides mass-data storage infrastructure solution. The Companyâs principal products are hard disk drives, commonly referred to as disk drives, hard drives (HDDs). In addition to HDDs, the Company produces a range of data storage products, including solid state drives (SSDs), solid state hybrid drives, storage subsystems, as well as a scalable edge-to-cloud mass data platform. Its HDD products are designed for mass capacity storage and legacy markets. Mass capacity storage involves use cases, such as hyperscale data centers and public clouds, as well as emerging use cases. The Companyâs HDD and SSD product portfolio includes Serial Advanced Technology Attachment, Serial Attached SCSI and Non-Volatile Memory Express based designs to support a variety of mass capacity and legacy applications. Its systems portfolio includes storage subsystems for enterprises, cloud service providers, scale-out storage servers and original equipment manufacturers.