Seagate Technology Reports Fiscal Second Quarter 2021 Financial Results
Summary
The Company is providing the following guidance 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 regarding non-GAAP diluted EPS excludes known charges related to amortization of acquired intangible assets of $0.02 per share and estimated share-based compensation expenses of $0.13 per share. Seagate crafts the datasphere, helping to maximize humanity’s potential by innovating world-class, precision-engineered data management solutions with a focus on sustainable partnerships. The Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, unless required by applicable law. The Company’s Non-GAAP measures are adjusted for the following items: Accelerated depreciation, impairment and other charges related to cost saving efforts These expenses are excluded in the non-GAAP measures due to the inconsistency in amount and frequency and are excluded to facilitate a more meaningful evaluation of the Company’s current operating performance and comparison to its past periods’ operating performance. From time to time, the Company incurs losses or gains from strategic investments accounted for under the equity method of accounting or records downward or upward adjustments on cost basis investments if an impairment or observable price adjustment is recognized in the current period that are not considered as part of its ongoing operating performance.