Summary
Seagate Technology Holdings plc (STX) reported a strong performance for the quarter ending September 28, 2012, with revenue significantly increasing year-over-year to $3.732 billion, up from $2.811 billion in the prior year's comparable quarter. This growth was driven by higher unit volumes, including contributions from the recently acquired Samsung HDD business, and improved pricing. Net income also saw a substantial increase to $582 million, or $1.42 per diluted share, compared to $140 million, or $0.32 per diluted share, in the same period last year. Operationally, the company demonstrated robust cash flow generation, with $1.132 billion in cash provided by operating activities. Seagate also actively managed its capital structure, repurchasing approximately $669 million of its ordinary shares during the quarter. The acquisition of a controlling interest in LaCie S.A. for $107 million was completed, aimed at strengthening its position in the consumer storage market. While the company faces ongoing market demand fluctuations and competitive pressures, the results reflect effective integration of acquisitions and positive revenue momentum.
Financial Highlights
55 data points| Revenue | $3.73B |
| Cost of Revenue | $2.67B |
| Gross Profit | $1.06B |
| R&D Expenses | $268.00M |
| SG&A Expenses | $150.00M |
| Operating Expenses | $3.11B |
| Operating Income | $624.00M |
| Interest Expense | $55.00M |
| Net Income | $582.00M |
| EPS (Basic) | $1.48 |
| EPS (Diluted) | $1.42 |
| Shares Outstanding (Basic) | 394.00M |
| Shares Outstanding (Diluted) | 409.00M |
Key Highlights
- 1Revenue increased significantly to $3.732 billion, up 32.7% year-over-year, primarily due to higher unit shipments and improved pricing.
- 2Net income surged to $582 million, a substantial increase from $140 million in the prior year's quarter.
- 3Diluted Earnings Per Share (EPS) rose to $1.42, a significant jump from $0.32 in the same period last year.
- 4Operating cash flow remained strong at $1.132 billion, indicating healthy operational performance.
- 5The company repurchased approximately $669 million of its ordinary shares, reflecting a commitment to returning capital to shareholders.
- 6Acquired a controlling interest in LaCie S.A. for $107 million, a strategic move to expand into the consumer storage market.
- 7Total assets decreased from $10.106 billion to $9.522 billion, largely due to share repurchases and dividend payments, while liabilities also decreased.