Seagate releases its Q4 financial report
"The shifting information technology market dynamics are disrupting the traditional storage industry in meaningful ways and continue to create more opportunities for Seagate. As we plan for our next fiscal year, we remain focussed on investing in our storage technology product portfolio to deliver high-quality storage products and solutions for our customers, as well as continuing to create long-term value for our shareholders," said Steve Luczo, Seagate's Chairman & Chief Executive Officer.
During the fourth quarter, the company generated approximately $577 million in operating cash flow and returned $166 million to shareholders in the form of dividends and share redemptions.For the fiscal year ended June 27, 2014, the company reported revenue of $13.7 billion, gross margin of 28.0%, net income of $1.6 billion and diluted earnings per share of $4.52. On a non-GAAP basis, Seagate reported gross margin of 28.5%, net income of $1.8 billion and diluted earnings per share of $5.04.
In the fiscal year 2014, the company returned $2.5 billion to shareholders in the form of dividends and share redemptions. The company also successfully raised $1.8 billion in investment grade debt in fiscal 2014, extending its weighted average maturity to approximately 7 years and decreasing its weighted average interest to approximately 5%. Cash, cash equivalents, restricted cash, and short-term investments totalled approximately $2.7 billion at the end of the fiscal year. There were 327 million ordinary shares issued and outstanding as of the end of the fiscal year.
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