Seagate Technology Q3 revenue $3.3 billionStaff writer ▼ | April 20, 2015
Seagate Technology plc reported financial results for the third quarter of fiscal year 2015 ended April 3, 2015 with revenue of approximately $3.3 billion.
Seagate Net income was $291 million
During the third quarter, the company generated approximately $374 million in operating cash flow, paid cash dividends of $176 million and repurchased approximately 12 million ordinary shares for $706 million.
Year to date, the company has returned approximately $1.4 billion to shareholders in dividend and stock redemptions. Cash, cash equivalents, restricted cash, and short-term investments totaled approximately $2.6 billion at the end of the quarter.
"In light of dynamic market conditions this quarter we are quite satisfied with our operational performance and ability to return value to shareholders," said Steve Luczo, Seagate's chairman and chief executive officer.
"Near-term macro uncertainty is affecting certain areas of our addressable market however we remain optimistic that market demand for exabytes of storage will continue to increase over the long-term.
"Looking ahead, we are focused on aligning our storage technology portfolio effectively to capitalize on market growth opportunities, demonstrating operating profitability and returning value to shareholders."
The board has approved a quarterly cash dividend of $0.54 per share, which will be payable on May 15, 2015 to shareholders of record as of the close of business on May 1, 2015. ■