Seagate (STX) Prelim Q2 Revs Top Expectations, Margins Tight
Tweet
Share
E-mailGet Alerts STX Hot Sheet
Price: $87.26 +0.17%
EPS Growth %: +217.9%
Financial Fact:
Marketing and administrative: 155M
Today's EPS Names:
FRSB, DGICA, UXIN, More
EPS Growth %: +217.9%
Financial Fact:
Marketing and administrative: 155M
Today's EPS Names:
FRSB, DGICA, UXIN, More
Join SI Premium – FREE
Seagate Technology plc (NASDAQ: STX) announced selected preliminary financial results for its fiscal second quarter of 2013, which ended on December 28, 2012.
Seagate expects to report fiscal second quarter 2013 revenue of at least $3.6 billion and gross margin of more than 27%, reflecting unit shipments of approximately 58 million and maintaining market share. These preliminary results compare to the Company’s previous expectations for revenue of approximately $3.5 billion and gross margin at the lower end of the Company’s long-term non-GAAP gross margin range of 27% to 32%.
*** The Street sees revs of $3.53 billion and EPS of $1.23.
During the quarter the company paid $1.1 billion in share redemptions and dividend payments that included a one-time acceleration of the December 2012 quarter dividend payment. The Company redeemed approximately 30 million ordinary shares and exited December 2012 with 358 million ordinary shares outstanding. Cash, cash equivalents, restricted cash and short term investments totaled approximately $2.0 billion on December 28, 2012.
Seagate expects to report fiscal second quarter 2013 revenue of at least $3.6 billion and gross margin of more than 27%, reflecting unit shipments of approximately 58 million and maintaining market share. These preliminary results compare to the Company’s previous expectations for revenue of approximately $3.5 billion and gross margin at the lower end of the Company’s long-term non-GAAP gross margin range of 27% to 32%.
*** The Street sees revs of $3.53 billion and EPS of $1.23.
During the quarter the company paid $1.1 billion in share redemptions and dividend payments that included a one-time acceleration of the December 2012 quarter dividend payment. The Company redeemed approximately 30 million ordinary shares and exited December 2012 with 358 million ordinary shares outstanding. Cash, cash equivalents, restricted cash and short term investments totaled approximately $2.0 billion on December 28, 2012.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gilead Sciences (GILD) Misses Q1 EPS by 288c
- Seagate Technology (STX) Enters $600M Asset Purchase Agreement with Avago
- USCB Financial Holdings, Inc. (USCB) Tops Q1 EPS by 2c
Create E-mail Alert Related Categories
Guidance, Hot GuidanceRelated Entities
Dividend, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
