Current Report Filing (8-k)
September 18 2019 - 8:01AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d)
of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 18, 2019
SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY
(Exact name of registrant as specified in its charter)
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Ireland
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001-31560
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98-0648577
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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38/39 Fitzwilliam Square
Dublin 2, Ireland
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D02 NX53
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(Address of principal executive office)
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(Zip Code)
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Registrants telephone number, including area code: (353)
(1) 234-3136
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to
Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to
Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12 (b) of the
Act:
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Title of Each Class
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Trading
Symbol
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Name of Each Exchange
on Which Registered
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Ordinary Shares, par value $0.00001 per share
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STX
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The NASDAQ Global Select Market
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of
1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth
company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 7.01 Regulation FD Disclosure.
On September 18, 2019, Seagate Technology plc (the Company or Seagate) issued a press release announcing that it
is updating the fiscal first quarter of 2020 non-GAAP diluted EPS guidance that it previously issued on August 2, 2019, from a range of $0.90 plus or minus 5%, to a range of $0.99 plus or minus 5%. This update solely reflects the impact of a
change in the estimated useful lives of the Companys capital equipment, primarily associated with the manufacturing of its products, from a range of three to five years to a range of three to seven years. The estimated impact of this change
reduces depreciation expense by approximately $25 million, or $0.09 per diluted share, in the Companys first fiscal quarter of 2020.
The updated guidance regarding non-GAAP diluted EPS excludes known charges primarily related to losses recognized on the early redemption and
repurchase of debt, estimated share-based compensation expenses, and amortization of acquired intangible assets of approximately $0.26 per diluted share, $0.10 per diluted share of which is related to estimated share-based compensation expenses.
Management reiterated its fiscal first quarter of 2020 revenue outlook of $2.55 billion plus or minus 5%.
Seagate will host a
financial analyst meeting in New York City tomorrow, Thursday, September 19, 2019, at the Lotte New York Palace Hotel in New York City starting at 9:00 a.m. Eastern time until approximately 12:30 p.m. Eastern time, which will be available
to the public via a live video webcast that can be accessed on its Investor Relations website at investors.seagate.com. Following the event, a replay will be made available at the same location and archived for approximately one year. Investors and
others should note that the Company routinely uses the Investor Relations section of its corporate website to announce material information to investors and the marketplace. While not all of the information that the Company posts on its corporate
website is of a material nature, some information could be deemed to be material. Accordingly, the Company encourages investors, the media, and others interested in the Company to review the information that it shares on investors.seagate.com.
The press release is attached to this Current
Report on Form 8-K as Exhibit 99.1.
The information in this
Item 7.01 is furnished and shall not be deemed to be filed for purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of such section.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
The following exhibit is attached to this
Current Report on Form 8-K:
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, hereunto duly authorized.
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SEAGATE TECHNOLOGY PUBLIC LIMITED COMPANY
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Date: September 18, 2019
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By:
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/s/ Gianluca Romano
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Name:
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Gianluca Romano
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Title:
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Executive Vice President and Chief Financial Officer
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