Seagate Technology has reported its financial results for the fourth quarter and fiscal year ending June 28, 2013. During the fourth quarter, the Company reported revenue of approximately $3.4 billion, gross margin of 27.4%, net income of $348 million and diluted earnings per share of $0.94. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported gross margin of 28.0%, net income of $447 million and diluted earnings per share of $1.20.
The financial results also showed that the Company generated approximately $394 million in operating cash flow, paid cash dividends of $137 million and repurchased 1 million of ordinary shares for approximately $42 million in this quarter.
Steve Luczo, Chairman, President & CEO, Seagate, said, Seagate’s financial results reflect strong execution in a time of change, uncertainty and opportunity. Looking ahead, we believe the market trends of data growth driven by cloud, mobile and open-source advancement will present new and significant opportunities for Seagate. We will continue to balance near-term financial performance and long-term strategic development while maximizing shareholder value.
For the fiscal year ended June 28, 2013, on a GAAP basis Seagate has reported revenue of $14.4 billion, gross margin of 27.5%, net income of $1.8 billion and diluted earnings per share of $4.81. In the fiscal year 2013, the Company returned 71% of its operating cash flow, or 96% of free cash flow, to shareholders in dividends and share redemptions.
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