“These trends lend further support to our June outlook, including an anticipated return to solid year-over-year revenue growth in the June quarter and enhanced profitability. As the datasphere continues to grow in scale and complexity, our innovative technology, flexible product roadmap and mass data expertise make us well positioned to capture significant opportunities in our core HDD business and address customers’ emerging needs to move, secure and store data across a more distributed enterprise.”
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 by the Company on July 7, 2021 to shareholders of file as of the shut of enterprise on May 12, 2021 (“the record date”). The file date has been set to happen earlier than the Irish High Court (“Irish Court”) listening to that we count on to be held on or round May 18, 2021, topic to the Irish Court’s availability, to approve the Scheme of Arrangement that Seagate shareholders permitted on April 14, 2021. The Scheme of Arrangement is a part of the proposed transaction described within the proxy assertion filed with the U.S. Securities and Exchange Commission on March 3, 2021. Assuming the Scheme of Arrangement is permitted by the Irish Court and consummated, the proposed transaction is meant to create extra distributable reserves within the new group mother or father firm, Seagate Technology Holdings plc, that are required underneath Irish regulation for shareholder distributions resembling dividends or share repurchases.
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, out there money, money move, capital necessities, distributable reserves, and different elements deemed related by the Board.
Business Outlook
The enterprise outlook for the fiscal fourth quarter 2021 is predicated on our present assumptions and expectations; precise outcomes could differ materially, because of, amongst different issues, the necessary elements mentioned within the Cautionary Note Regarding Forward-Looking Statements part of this launch.
The Company is offering the next steering for its fiscal fourth quarter 2021:
- Revenue of $2.85 billion, plus or minus $150 million
- Non-GAAP diluted EPS of $1.60, plus or minus $0.15
Guidance relating to non-GAAP diluted EPS excludes recognized fees associated to amortization of acquired intangible belongings of $0.02 per share and estimated share-based compensation bills of $0.14 per share.
We haven’t reconciled our non-GAAP diluted EPS steering for fiscal fourth quarter 2021 to essentially the most instantly comparable GAAP measure as a result of materials objects which 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 fees associated to value saving efforts, restructuring fees, strategic funding losses or impairment acknowledged, earnings tax changes on these measures, and different fees or advantages which will come up. The quantities of those measures are usually not at the moment out there, however could also be materials to future outcomes. A reconciliation of the non-GAAP diluted EPS steering for fiscal fourth quarter 2021 to the corresponding GAAP measures is just not out there with out unreasonable effort. A…
