Seagate Reports 4Q And Fiscal Year 2018 Financial Results

Seagate today reported financial results for the quarter and fiscal year ended June 29, 2018. For the fourth quarter, the Company reported revenue of $2.8 billion, gross margin of 31.9%, net income of $461 million and diluted earnings per share of $1.57. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported gross margin of 32.4%, net income of $475 million and diluted earnings per share of $1.62. During the fourth quarter, the Company generated $468 million in cash flow from operations and $372 million in free cash flow. For the fiscal year ended June 29, 2018, the Company reported revenue of $11.2 billion, gross margin of 30.1%, net income of $1.2 billion and diluted earnings per share of $4.05. On a non-GAAP basis, Seagate reported gross margin of 30.7%, net income of $1.6 billion and diluted earnings per share of $5.51.