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Seagate reports revenue of US$3.53bn for 2014 fiscal year's second quarter

Seagate Technology reported revenue of US$3.53 billion, gross margin of 28.0 per cent, and net income of US$428 million for the second quarter of fiscal year 2014 ended December 27, 2013.

During the second quarter, the company generated approximately US$856 million in operating cash flow, paid cash dividends of US$142 million and repurchased 33 million ordinary shares for approximately US$1.5 billion.

"Seagate's results in the December quarter reflect discipline in managing the profitability of our business and strong operational execution. We continue to strategically invest in our product portfolio and enhance our vertically integrated manufacturing capabilities to effectively capitalize on the cloud, mobile and open source storage trends that are being fueled by data growth," said Steve Luczo, Seagate's chairman and chief executive officer.

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