Exhibit 99.1

 

 

 

For Further Information Contact:

 

 

Kimberly Myers

 

 

(971) 246-8211

 

 

kimberly.myers@seagate.com

 

SEAGATE TECHNOLOGY REPORTS FISCAL FOURTH QUARTER AND FISCAL YEAR 2015 FINANCIAL RESULTS

 

CUPERTINO, CA — July 31, 2015 — Seagate Technology plc (NASDAQ: STX) (the “Company” or “Seagate”) today reported financial results for the quarter and fiscal year ended July 3, 2015.  For the fourth quarter, the Company reported revenue of $2.9 billion, gross margin of 26.5%, net income of $138 million and diluted earnings per share of $0.43.  On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported gross margin of 27.2%, net income of $250 million and diluted earnings per share of $0.77.

 

During the fourth quarter, the Company generated $228 million in operating cash flow and returned $351 million to shareholders in the form of dividends and share redemptions.

 

For the fiscal year ended July 3, 2015, the Company reported revenue of $13.7 billion, gross margin of 27.7%, net income of $1.7 billion and diluted earnings per share of $5.26.  On a non-GAAP basis, Seagate reported gross margin of 28.1%, net income of $1.5 billion and diluted earnings per share of $4.57.

 

In fiscal year 2015, the Company generated approximately $2.6 billion in operating cash flow and returned $1.8 billion to shareholders in the form of dividends and share redemptions. The Company also successfully raised $1.2 billion in investment grade debt in fiscal 2015, extending its weighted average maturity to approximately 9 years and decreasing its weighted average interest to 4.8%.  Cash, cash equivalents, restricted cash, and short-term investments totaled approximately $2.5 billion at the end of the fiscal year. There were 315 million ordinary shares issued and outstanding as of the end of the fiscal year.

 


The following information was filed by Seagate Technology Plc (STX) on Friday, July 31, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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