Seagate Technology Reports Fiscal First Quarter 2019 Financial Results
Seagate Technology plc (NASDAQ: STX) (the “Company” or “Seagate”) today reported financial results for the quarter ended September 28, 2018.
“In the September quarter, we achieved strong financial results in revenue, profitability and cash flow, reflecting solid execution and positive demand for our products across multiple markets. By delivering competitive cost-effective mass storage solutions, Seagate is a crucial supplier in supporting the Data Age digital transformations that are happening across the storage marketplace. We believe our deep storage industry expertise, leading technology portfolio and focused execution will continue to drive long-term success for the company and deliver value to our shareholders,” said Dave Mosley, Seagate’s chief executive officer.
Quarterly Financial Results
|FQ1 2019||FQ1 2018||FQ1 2019||FQ1 2018|
|Net Income ($M)||$450||$181||$496||$279|
|Diluted Earnings Per Share||$1.54||$0.62||$1.70||$0.96|
In the first quarter, the Company generated $587 million in cash flow from operations and $410 million in free cash flow, paid cash dividends of $181 million and repurchased 3 million ordinary shares for $150 million. Cash and cash equivalents totaled $1.9 billion at the end of the quarter.
For a detailed reconciliation of GAAP to non-GAAP results, see accompanying financial tables.
Seagate has issued a Supplemental Financial Information document, which is available on Seagate’s Investors Relations website at www.seagate.com/investors.