“We also achieved our technology milestone by shipping 20-terabyte HAMR drives in calendar 2020, paving the way for Seagate’s continued success for years to come. As demand for data increases in both the cloud and at the edge, Seagate’s new Lyve Storage Platform complements our HDD portfolio to help businesses address both the secular demand for mass capacity storage and the increasing complexity of managing data from edge-to-core cloud. We are well positioned to benefit from the tremendous opportunities we foresee ahead and remain focused on enhancing value for our customers, employees and shareholders.”
Quarterly Financial Results
The Company generated $473 million in money move from operations and $314 million in free money move through the fiscal second quarter 2021. Seagate maintained a wholesome steadiness sheet and through the fiscal second quarter 2021, the Company paid money dividends of $167 million and repurchased 18 million extraordinary shares for $1 billion. Additionally, the Company raised $1 billion of debt and ended the fiscal second quarter with money and money equivalents totaling $1.eight billion. There had been 240 million extraordinary shares issued and excellent as of the tip of the quarter.
For an in depth reconciliation of GAAP to non-GAAP outcomes, see accompanying monetary tables.
Seagate has issued a Supplemental Financial Information doc, which is on the market on Seagate’s Investor Relations web site at traders.seagate.com.
Quarterly Cash Dividend
The Board of Directors of the Company (the “Board”) declared a quarterly money dividend of $0.67 per share, which can be payable on April 7, 2021 to shareholders of file as of the shut of enterprise on March 24, 2021. The fee of any future quarterly dividends can be on the discretion of the Board and can be dependent upon Seagate’s monetary place, outcomes of operations, obtainable money, money move, capital necessities, distributable reserves, and different components deemed related by the Board.
Business Outlook
The enterprise outlook for the fiscal third quarter 2021 relies on our present assumptions and expectations; precise outcomes could differ materially, on account of, amongst different issues, the vital components mentioned within the Cautionary Note Regarding Forward-Looking Statements part of this launch.
The Company is offering the next steering for its fiscal third quarter 2021:
Revenue of $2.65 billion, plus or minus $200 million
Non-GAAP diluted EPS of $1.30, plus or minus $0.15
Guidance concerning non-GAAP diluted EPS excludes recognized costs associated to amortization of acquired intangible property of $0.02 per share and estimated share-based compensation bills of $0.13 per share.
We haven’t reconciled our non-GAAP diluted EPS steering for fiscal third quarter 2021 to probably the most immediately comparable GAAP measure as a result of materials gadgets that will impression these measures are out of our management and/or can’t be moderately predicted, together with, however not restricted to, accelerated depreciation, impairment and different costs associated to value saving efforts, restructuring costs, strategic funding losses or impairment acknowledged, earnings tax changes on these measures, and different costs or advantages that will come up. The quantities of those measures will not be at present obtainable, however could also be materials to future outcomes. A reconciliation of the non-GAAP diluted EPS steering for fiscal third quarter 2021 to the corresponding GAAP measures just isn’t obtainable with out unreasonable effort. A reconciliation of our historic non-GAAP…
