Seagate Technology has just announced its financial performance for the last quarter of fiscal year 2012 and the overall fiscal results for the whole fiscal year 2012. Despite the global economic downturn and the specific issues in the hard drive market, Seagate made over $3 billion in net income from June 2011 until June 2012.
Therefore, if OCZ was having trouble getting enough financing, now that their market value has jumped so high and so fast, they’re able to ensure the necessary funds much easier.
This is not in Seagate’s favor, as this allows OCZ to stay and bargain for more and the more the talks last, the more the company’s value will increase.
Seagate reported $4.5 billion of revenue for the last three months that materialized into a $1 billion net income for the company.
Seeing how the shares have only went up during the last months, Seagate continued purchasing its own shares back from the free market to regain control of the company and enjoy the profits that will come.
Now that Seagate and Western Digital have no competition left and they only have to mimic the competition between themselves, the profits will just keep on flowing.
Seagate repurchased 45 million of its shares and that means they’ve managed to buy back 19% or 88 million of the company’s shares during the past six months alone.
The company has also paid $106 million in cash dividends for its shareholders.
While both companies are playing the “business as usual” game, we’re waiting to see how the OCZ negotiations turn out. If OCZ remains the top SSD player and an independent company, its shareholders might not make a “fast” billion, but the users are the ones to gain.
On the other hand, prices of hard drives remain high and there’s no relief in sight.
Via: Seagate Reports Another Billion Net Income
Tidak ada komentar:
Posting Komentar