Seagate Technology plc Approves Quarterly Cash Dividend, Payable on February 23, 2016; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended January 1, 2016
January 29, 2016 at 01:00 pm
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Seagate Technology plc announced that the company's Board has approved a quarterly cash dividend of $0.63 per share, which will be payable on February 23, 2016 to shareholders of record as of the close of business on February 9, 2016.
The company reported unaudited consolidated earnings results for the second quarter and six months ended January 1, 2016. The company reported revenue of $2,986 million, income from operations of $229 million, income before income taxes of $180 million, net income of $165 million or $0.55 per diluted share against revenue of $3,696 million, income from operations of $1,053 million, income before income taxes of $1,126 million, net income of $933 million or $2.78 per diluted share a year ago. Non-GAAP net income was $246 million or $0.82 per diluted share. During the second quarter, the Company generated approximately $382 million in operating cash flow.
For the six months, the company reported revenue of $5,911 million, income from operations of $315 million, income before income taxes of $211 million, net income of $198 million or $0.65 per diluted share against revenue of $7,481 million, income from operations of $1,509 million, income before income taxes of $1,517 million, net income of $1,314 million or $3.91 per diluted share a year ago. Net cash provided by operating activities was $1,206 million against $2,045 million a year ago. Acquisition of property, equipment and leasehold improvements was $346 million against $387 million a year ago. Non-GAAP net income was $410 million or $1.35 per diluted share.
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.
Seagate Technology plc Approves Quarterly Cash Dividend, Payable on February 23, 2016; Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended January 1, 2016