Seagate Technology Provides Updated Financial Outlook
28 Novembre 2011 - 11:46PM
Business Wire
Seagate Technology plc (NASDAQ:STX) today updated its financial
outlook for the December 2011 and March 2012 quarters.
The company continues to believe that, due to the industry
impacts caused by the extensive flooding in Thailand, hard disk
drive supply will be significantly constrained for several
quarters. For the December 2011 quarter, the company believes the
industry will ship between 110-120 million units.
The company believes the industry’s ability to manufacture and
ship hard disks drives will gradually improve throughout calendar
2012. While this may alleviate some of the unit demand shortfall,
it is expected that some companies will optimize unit shipments by
manufacturing lower component count/lower capacity hard disk
drives; thereby, only modestly offsetting the growing petabyte
shortage. Because demand is estimated to significantly exceed
supply during this time, pricing is expected to remain stable.
Financial Outlook
The company’s component and disk drive factories in Thailand
have not been directly affected by the flood; however, the
company’s ability to manufacture hard disk drives has been impacted
due to external component supply constraints as first disclosed on
October 12, 2011.
For the December 2011 quarter, the company now expects unit
shipments of approximately 43 million units and revenue of
approximately $2.8 billion. Gross margin as a percent of revenue is
expected to be 150-300 basis points above the high-end of the
company’s long-term, targeted gross margin range of 22-26%.
Operating expenses (R&D and SG&A) are expected to be
approximately $400 million. Expenses related to the acquisition of
Samsung Electronics Co., Ltd’s (“Samsung”) hard disk drive business
and any revenue or operating expenses of the acquired business
following the closing date cannot be estimated at this time and are
therefore excluded from this outlook. The company continues to
expect to close the acquisition of Samsung’s hard disk drive
business by the end of December 2011.
The company’s outlook for the March 2012 quarter assumes
requisite regulatory approvals are received and the Samsung
acquisition closes in December of 2011. The company also continues
to work with its external suppliers to restore the component supply
chain, and now expects that in the March quarter it will be capable
of shipping a mix of products in terms of capacity per drive and
expected market similar to pre-flood levels. Currently, for the
March 2012 quarter, the company expects unit shipments to increase
sequentially. Revenue is expected to be at least $3.75 billion and
gross margin as a percent of revenue is expected to be at least 300
basis points above the aforementioned targeted range of 22-26%. The
outlook for the March 2012 quarter excludes certain costs related
to the integration of the acquired Samsung hard disk drive
operations which cannot be estimated at this time.
The financial outlook provided today does not include the
arbitration award previously disclosed on November 21, 2011.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, each as
amended, including, in particular, statements about our plans,
strategies and prospects and estimates of industry growth for the
fiscal quarter ending December 30, 2011 (the “December 2011
quarter”) and beyond, including, but not limited to, statements
related to the Company’s operating and financial performance in the
December 2011 and March 2012 quarters and thereafter, and
statements regarding customer demand for disk drives, industry
pricing, the Company’s product mix and general market conditions.
These statements identify prospective information and include words
such as expect, plans, anticipates, believes, estimates, predicts,
projects, and similar expressions. These forward-looking statements
are based on information available to the Company as of the date of
this press release. Current expectations, forecasts and assumptions
involve a number of risks, uncertainties, and other factors that
could cause actual results to differ materially from those
anticipated by these forward-looking statements. Such risks,
uncertainties, and other factors may be beyond the Company’s
control. In particular, the uncertainty in global economic
conditions continues to pose a risk to the Company’s operating and
financial performance as consumers and businesses may defer
purchases in response to tighter credit and negative financial
news. Such risks and uncertainties also include, but are not
limited to, the impact of the variable demand and the adverse
pricing environment for disk drives, particularly in view of
current business and economic conditions; dependence on the
Company’s ability to successfully qualify, manufacture and sell its
disk drive products in increasing volumes on a cost-effective basis
and with acceptable quality, particularly the new disk drive
products with lower cost structures; the impact of competitive
product announcements and possible excess industry supply with
respect to particular disk drive products; the Company’s ability to
achieve projected cost savings in connection with restructuring
plans; the risk that the previously announced transaction with
Samsung Electronics Co., Ltd. (“Samsung”) will not be consummated
and the risk that the Company will incur significant costs in
connection with the transaction with Samsung; and significant
disruption to the industry supply chain due to the severe flooding
throughout parts of Thailand and the industry’s ability to recover
from such disruption, which may pose a risk to the Company’s
operating and financial performance.
Information concerning risks, uncertainties and other factors
that could cause results to differ materially from those projected
in the forward-looking statements is contained in the Company’s
Annual Report on Form 10-K and Quarterly Report on Form 10-Q as
filed with the U.S. Securities and Exchange Commission on August
17, 2011 and October 27, 2011, respectively, which statements are
incorporated into this press release by reference. These
forward-looking statements should not be relied upon as
representing the Company’s views as of any subsequent date and the
Company undertakes no obligation to update forward-looking
statements to reflect events or circumstances after the date they
were made.
Grafico Azioni Seagate Technology (NASDAQ:STX)
Storico
Da Ago 2024 a Set 2024
Grafico Azioni Seagate Technology (NASDAQ:STX)
Storico
Da Set 2023 a Set 2024