Seagate Technology Public Limited Company (NASDAQ:STX) Q1 2019 Earnings Conference Call - Preliminary Transcript

Nov 02, 2018 • 09:00 am ET


Seagate Technology Public Limited Company (NASDAQ:STX) Q1 2019 Earnings Conference Call - Preliminary Transcript


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Good morning, and welcome to the Seagate Technology Fiscal First Quarter 2019 Financial Results Conference Call. My name is Liz, and I will be your coordinator for today. At this time, all participants are in a listen-only mode. Following the prepared remarks, there will be a question-and-answer session. As a reminder, this conference is being recorded for replay purposes.

At this time, I would like to turn the call over to Jingjing Chen, Director, Investor Relations. Please proceed, Jingjing.

Jingjing Chen

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 Kate Scolnick, Interim Chief Financial Officer. We have posted our earnings press release and detailed supplemental information for our September 2018 quarter on our Investor Relations site at

During today's call, we will review the highlights for the September quarter, provide the company's outlook for December quarter, and then open the call for questions. We're planning for the call today to go approximately 30 minutes, and we'll do our best to accommodate your questions following our prepared remarks as time permits. For December quarter, we would like to note that our quiet period will begin on December 17th.

On our call today, we will refer to GAAP and non-GAAP measures. Non-GAAP figures are reconciled to GAAP figures in our earnings release for our September 2018 quarter, which is posted on our website and has been furnished on a Form 8-K that was filed with the SEC. We have not reconciled our non-GAAP financial measure 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 measure 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 market demand in the current macroeconomic environment, industry growth and trends, our technology and product shipments, developments, advancements, and our ability to achieve volume shipments for new products in 2019, demand for our products; continuity of access to long-term NAND supply, the expected return on our investments, ability to execute our roadmap and address supply constraints while maintaining an agile manufacturing footprint, potential impact of trade barriers, such as import/export duties and restrictions, tariffs and quotas; and the 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 Investors section of the company website.

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

William David Mosley

Thanks, Jingjing. Good morning, everyone, and thanks for joining us for today's earnings call. I