Seagate Technology plc (NASDAQ: STX) shares retreated Monday on Q4 financial numbers
The company reported financial results for the quarter and fiscal year ended June 29. 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, 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.
In fiscal year 2018, the Company generated approximately $2.1 billion in cash flow from operations and $1.7 billion in free cash flow, paid cash dividends of $726 million and repurchased 10 million ordinary shares for $361 million.
Also, Seagate announced Monday that David H. Morton, Jr., executive vice president and chief financial officer at Seagate, will leave the company for a senior finance executive role at another company. Morton has agreed to assist in the orderly transition of his CFO responsibilities and will leave the company on August 3.
Shares in Seagate fell $1.76, or 3.2%, to $52.92.
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