Seagate Technology has provided preliminary financial results for its fiscal second quarter ending on December 30, 2011. These numbers include Samsung hard disk drive business operating activity, which was acquired by Seagate on December 19th of last year. Seagate has shipped approximately 47 million disk drives, which consisted of approximately 700,000 Samsung disk drives, and expects revenue for its fiscal second quarter 2012 to reach $3.1 – $3.2 billion. Before costs relating to the acquisition of Samsung’s hard disk drive business (which are not yet determinable), Seagate expects a gross margin as a percent of revenue to be at least 30.5%, operating expenses to be approximately $390 million, and diluted outstanding shares to be 440 million.
Seagate Technology has provided preliminary financial results for its fiscal second quarter ending on December 30, 2011. These numbers include Samsung hard disk drive business operating activity, which was acquired by Seagate on December 19th of last year. Seagate has shipped approximately 47 million disk drives, which consisted of approximately 700,000 Samsung disk drives, and expects revenue for its fiscal second quarter 2012 to reach $3.1 – $3.2 billion. Before costs relating to the acquisition of Samsung’s hard disk drive business (which are not yet determinable), Seagate expects a gross margin as a percent of revenue to be at least 30.5%, operating expenses to be approximately $390 million, and diluted outstanding shares to be 440 million.
By the end of December, cash, cash equivalents, and marketable securities totaled more than $2.1 billion. This included substantial outflows of roughly $1.2 billion during the quarter for matured debt and cash consideration for the Samsung acquisition.
Seagate believes that unit demand will exceed supply during calendar 2012, similar to view back in November. With the high growth rate in the demand for raw storage, the exabyte shortage will be greater than unit shortage; pricing is expected to remain steady as a result.
