Seagate Technology Public Limited Company (NASDAQ:STX) Q2 2018 Earnings Conference Call - Final Transcript

Jan 29, 2018 • 09:00 am ET


Seagate Technology Public Limited Company (NASDAQ:STX) Q2 2018 Earnings Conference Call - Final Transcript


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Good morning, and welcome to the Seagate Technology Fiscal Second Quarter 2018 Financial Results Conference Call. My name is James, and I will be your coordinator for today. [Operator Instructions]

At this time, I would like to turn the call over to Kate Scolnick, Senior Vice President, Investor Relations and Treasurer. Please proceed, Kate.

Kate Scolnick

Thank you. Good morning, everyone and welcome to today's call. Joining me today from Seagate's Executive Team are Dave Mosley, Chief Executive Officer, and Dave Morton, Executive Vice President and Chief Financial Officer. We've posted our earnings press release and detailed supplemental information for our December 2017 quarter on our Investor Relations section of our site at

During today's call, we will review the highlights for the December quarter, provide the company's outlook for the March quarter, and then open the call for questions. We are planning for the call today to go approximately half an hour, and we will do our best to accommodate your questions following our prepared remarks as time permits. We've received a lot of interest in our next strategic update and we will be finalizing a date shortly, most likely in the early fall time frame. In addition, we would like to note that our March quarter quiet period will begin on March 26.

On our call today, we will refer to GAAP and non-GAAP measures. Non-GAAP figures are reconciled to GAAP figures on our supplemental information available on the Investor section of our website. We have not reconciled our non-GAAP financial measures guidance to the most directly comparable GAAP measures because material items that impact these measures are out of our control and/or cannot be reasonably predicted; accordingly, a reconciliation of the non-GAAP financial measures guidance to the corresponding GAAP measures is not available without unreasonable effort.

As a reminder, this conference call contains forward-looking statements about the company's anticipated future operating and financial performance, customer and market demand, industry trends, technology and product development advancements, demand for our products, continuity of access to long-term NAND supply, consummation of the Bain Capital private equity transaction, our perspective of the cryptocurrency market, block chain technology, and assessment of our equity investment in Ripple, our ability to execute our road map and address supply constraints to generate shareholder value, the impact of the Tax Cuts and Jobs Act, and general market conditions.

These forward-looking statements are based on management's current views and assumptions and should not be relied upon as of any subsequent date. Actual results may vary materially from today's statements. Information concerning our risks, uncertainties and other factors that could cause results to differ from these forward-looking statements are contained in the company's SEC filings and supplemental information posted on the Investor section of the company's website.

I would now like to turn the call over to Dave Mosley. Please go ahead, Dave.

Dave Mosley

Thanks, Kate. Good morning, everyone and thanks for joining us today. For today's earnings call, I will cover the high-level trends we're seeing in the business. Our