Seagate 2008 Annual Report Download - page 46

Table of Contents
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following is a discussion of the financial condition and results of operations for the fiscal years ended July 3, 2009, June 27, 2008 and
June 29, 2007. Unless the context indicates otherwise, as used herein, the terms "we," "us," "Seagate," the "Company" and "our" refer to
Seagate Technology, an exempted company incorporated with limited liability under the laws of the Cayman Islands, and its subsidiaries.
References to "$" are to United States dollars
.
You should read this discussion in conjunction with "Item 6. Selected Financial Data" and "Item 8. Financial Statements and
Supplementary Data" included elsewhere in this report. Except as noted, references to any fiscal year mean the twelve-month period ending on
the Friday closest to June 30 of that year.
Some of the statements and assumptions included in this Annual Report on Form 10-K are forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 or Section 21E of the Securities Exchange Act of 1934, each as amended, including, in particular,
statements about our plans, strategies and prospects and estimates of industry growth for the fiscal year ending July 2, 2010 and beyond. These
statements identify prospective information and include words such as "expects," "plans," "anticipates," "believes," "estimates," "predicts,"
"projects," and similar expressions. These forward-looking statements are based on information available to us as of the date of this Annual
Report on Form 10
-K. Current expectations, forecasts and assumptions involve a number of risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking statements. Such risks, uncertainties and other factors may be beyond our control.
In particular, the decline in global economic conditions continues to pose a risk to our operating and financial performance as consumers and
businesses have, and may continue to, defer purchases in response to tighter credit and negative financial news. Such risks and uncertainties
also include the impact of the variable demand and the aggressive pricing environment for disk drives, particularly in view of current business
and economic conditions; dependence on our ability to successfully qualify, manufacture and sell our disk drive products in increasing volumes
on a cost-effective basis and with acceptable quality, particularly the new disk drive products with lower cost structures; the impact of
competitive product announcements and possible excess industry supply with respect to particular disk drive products; and our ability to achieve
projected cost savings in connection with restructuring plans. Information concerning risks, uncertainties and other factors that could cause
results to differ materially from those projected in the forward-looking statements is also set forth in "Item 1A.Risk Factors" of this Annual
Report on Form 10
-K, which we encourage you to carefully read. These forward-looking statements should not be relied upon as representing
our views as of any subsequent date and we undertake no obligation to update forward-looking statements to reflect events or circumstances
after the date they were made. The following is a discussion of the financial condition and results of operations for the fiscal years ended July 3,
2009, June 27, 2008 and June 29, 2007.
Our Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) is provided in addition to the
accompanying consolidated financial statements and notes to assist readers in understanding our results of operations, financial condition, and
cash flows. MD&A is organized as follows:
• Our Company. Discussion of our business.
•
Business Overview.
Discussion of industry trends and their impact on our business.
•
Fiscal Year 2009 Summary.
Overview of financial and other highlights affecting us for fiscal year 2009.
• Results of Operations. Analysis of our financial results comparing 2009 to 2008 and comparing 2008 to 2007.
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