Seagate Technology (STX) Tops Q1 EPS by 4c
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Seagate Technology Reports Fiscal First Quarter 2016 Financial Results
October 30, 2015 8:00 AM EDTCUPERTINO, Calif.--(BUSINESS WIRE)-- Seagate Technology plc (NASDAQ: STX) (the Company or Seagate) today reported financial results for the first quarter of fiscal year 2016 ended October 2, 2015. For the first quarter, the Company reported revenue of approximately $2.9 billion, gross margin of 23.6%, net income of $34 million and diluted earnings per share of $0.11. On a non-GAAP basis, which excludes the net impact of certain items, Seagate reported gross margin of 24.2%, net income of $165 million and diluted earnings per share of $0.54. For a detailed reconciliation of GAAP to non-GAAP results, see the accompanying financial tables.
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