Seagate Technology PLC said its normalized net income for the fiscal second quarter ended Jan. 1 came to 41 cents per share, compared with the S&P Capital IQ consensus estimate of 71 cents per share.
EPS declined 39.9% year over year from 68 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $123.1 million, a decrease of 46.2% from $228.8 million in the year-earlier period.
The normalized profit margin fell to 4.1% from 6.2% in the year-earlier period.
Total revenue declined 19.2% year over year to $2.99 billion from $3.70 billion, and total operating expenses decreased 16.0% on an annual basis to $2.74 billion from $3.26 billion.
Reported net income fell 82.3% from the prior-year period to $165.6 million, or 55 cents per share, from $934.1 million, or $2.78 per share.
