Seagate Technology posts $3.7 billion revenue in fiscal second quarter

Infotech Lead America: Seagate Technology has reported revenue of approximately $3.7 billion in the fiscal second quarter.

The company shipped 58 million units during the second quarter.

Net income of Seagate Technology during the quarter was $492 million.

“Seagate is executing well in an environment where customer demand forecasting is challenging,” said Steve Luczo, Seagate’s chairman, president and chief executive officer.

“Looking ahead, we will continue to manage our business conservatively to the demand environment, focus on profitability and effectively invest for market leadership in storage for mobility, cloud and open source. Creating value for shareholders remains a top priority, and in the first half of fiscal 2013, we returned over 95 percent of operating cash flows through share redemptions and dividends,” Luczo added.

SEAGATE TECHNOLOGY

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share data)

(Unaudited)

 
For the Three Months Ended For the Six Months Ended
December 28, 
2012
  December 30, 
2011
December 28, 
2012
  December 30, 
2011
Revenue $ 3,668 $ 3,195 $ 7,400 $ 6,007
 
Cost of revenue 2,676 2,185 5,347 4,448
Product development 277 259 545 467
Marketing and administrative 139 141 289 245
Amortization of intangibles 20 2 39 3
Restructuring and other, net 1   3   1   3  
Total operating expenses 3,113   2,590   6,221   5,166  
 

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