Seagate 2013 Annual Report Download - page 47

Table of Contents
ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The following is a discussion of the Company's financial condition, changes in financial condition and results of operations for the fiscal
years ended June 27, 2014, June 28, 2013, and June 29, 2012.
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 Annual Report on Form 10-K. 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 3, 2015 and beyond. These
statements identify prospective information and may 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 and management's current views and assumptions. These forward-looking statements are conditioned upon and also
involve a number of known and unknown risks, uncertainties and other factors that could cause actual results, performance or events to differ
materially from those anticipated by these forward-looking statements. Such risks, uncertainties and other factors may be beyond our control
and may pose a risk to our operating and financial condition. Such risks and uncertainties include, but are not limited to: uncertainty in global
economic conditions, as consumers and businesses may defer purchases in response to tighter credit and financial news; the impact of variable
demand and the adverse pricing environment for disk drives, particularly in view of current business and economic conditions; 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 new disk drive products with lower cost structures; the impact of competing product announcements; 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 such 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 June 27, 2014, June 28, 2013, and June 29, 2012.
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 2014 Summary. Overview of financial and other highlights affecting us for fiscal year 2014.
• Results of Operations. Analysis of our financial results comparing fiscal year 2014 to 2013 and comparing fiscal years 2013 to
2012.
• Liquidity and Capital Resources. An analysis of changes in our balance sheets and cash flows, and discussion of our financial
condition including the credit quality of our investment portfolio and potential sources of liquidity.
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