Summary
Seagate Technology Holdings plc (STX) filed a Current Report on Form 8-K on April 16, 2003, primarily to furnish its earnings release and earnings call script for the fiscal third quarter of 2003, which ended on March 28, 2003. The filing highlights the company's financial performance for the quarter, with a particular focus on Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) as a metric for assessing debt servicing capabilities. Investors should note that this report is furnished under Regulation FD and is not considered 'filed' for purposes of Section 18 of the Exchange Act.
Key Highlights
- 1Seagate Technology furnished its fiscal third quarter 2003 earnings release and earnings call script on April 15, 2003.
- 2The filing's primary purpose is to provide information regarding the company's results for the quarter ended March 28, 2003.
- 3EBITDA is presented as a key metric for evaluating the company's ability to service and incur debt.
- 4For the three months ended March 28, 2003, Net Income was $174 million and EBITDA was $300 million.
- 5For the nine months ended March 28, 2003, Net Income was $481 million and EBITDA was $846 million.
- 6The company explicitly states that EBITDA should not be used in isolation or as a substitute for GAAP measures like Net Income or cash flows.
- 7The filing includes the signature of William L. Hudson, Executive Vice President, General Counsel and Corporate Secretary.