Where are all the HR people or execs pretending things have gotten better and there will be growth? The numbers speak for themselves. Without low interest rates, employee voluntary attrition, and threat of layoffs this company would be in bankruptcy already.
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Please describe more the Springtown incident?
WDC wins again.
At least STX has numerous, redundant design centers and that can be closed to juice the EPS numbers later this year.
As long as they shed cost/employees faster than revenues decline, all will be well.
But with Ravi Naik in charge of new product development, all will be well. Cutting more IT staff will spur more product development. All will be well.
If Seagate has not started working on 10 d it is too late. All in on HAMR was a huge mistake by CEO, CTO, and ponytail. They bet the company on it and will lose.
If Seagate was smart we would have people working a 10 disk design out to fill in one more cycle befire HAMR is not ready again. If not then yes WDC will have a win the 20TB space.
I want to know how we compete against ePMR and MAMR which will have a bill of materials that is 30 percent lower than HAMR. Anyone from PLM that can answer this? Seems like Toshiba and WD will k–l us for the next 5 years
Definitely not growing but all the layoffs are keeping cash flow solid until Toshiba and wdc underprice HAMR with ePMR and MAMR.
Below is from Zack's.
Revenues by Product Group
Total HDD revenues declined 0.3% year over year to $2.482 billion in the reported quarter.Non-HDD segment (enterprise data solutions, cloud systems and SSDs) revenues were down 4.4% year over year to $215 million.Margin DetailsNon-GAAP gross margin contracted 120 basis points (bps) on a year-over-year basis to 28.7%.Non-GAAP operating expenses were up 1.7% on a year-over-year basis to $350 million. Non-GAAP income from operations came in at $424 million, down 9.4% from the year-ago quarter. As a percentage of non-GGAP revenues, the figure contracted 150 bps year over year, and came in at 15.7%.Balance Sheet and Cash FlowAs of Jan 3, 2020, cash and cash equivalents were $1.74 billion compared with $1.78 billion, as of Oct 4, 2019.Seagate ended the fiscal second quarter with a long-term debt (including current portion) of $4.141 billion, almost flat sequentially.Cash flow from operations was $480 million, compared with $456 million reported in the previous quarter.Free cash flow for the reported quarter amounted to $286 million, compared with $309 million reported in the prior quarter.In the fiscal second quarter, the company repurchased 2.5 million shares worth $150 million and paid out dividends worth $165 million.Notably, Seagate’s board of directors approved a cash dividend of 65 cents per share, payable Apr 8, 2020, to shareholders as on Mar 25, 2020.GuidanceManagement anticipates third-quarter fiscal 2020 revenues to be 2.7 billion (+/- 7%). The Zacks Consensus Estimate for revenues is pegged at $2.53 billion.
What where the numbers? We in Seagate Springtown have not been told anything except for the huge sc-ap incident due to a serious contamination that happened here.Ships missed and under huge pressure.The directors and upper management will still be getting their bug slice of the pie no matter how bad the numbers are.
They can't lie anymore. They have been exposed. Or just pure exhaustion defending the indefensible.