The company said revenue for 2024 fell about 11%, or $833 million, from 2023, citing lower market demand that reduced exabytes shipped as the main factor. It said gross margin for the same year was 23%.

1. 01

   The company said revenue for 2024 fell about 11%, or $833 million, from 2023, citing lower market demand that reduced exabytes shipped as the main factor. It said gross margin for the same year was 23%.

2. 02

   The company said that on April 2024 it sold certain intellectual property, equipment and other assets related to its System-on-Chip (SoC) products to Avago Technologies International Sales Pte. Limited, a Broadcom Inc. subsidiary, for $600 million, and recorded a net gain of $313 million from the divestiture.

3. 03

   The company said operating cash flow for fiscal 2024 was $918 million and it paid $585 million in dividends. It also said it issued $1.5 billion of exchangeable notes, mainly to retire term loans of $1.3 billion.

4. 04

   As of June 28, 2024, the company said it held about $1.4 billion in cash and cash equivalents and $1.5 billion available for borrowing under its Revolving Credit Facility. It said $479 million of the $5.7 billion principal amount of its long-term debt will mature within 1 years.

Key figures

Fiscal year ended June 28, 2024

Revenue

$6.6B

Operating income

$452M

Net income

$335M

EPS

$1.58

Operating cash flow

$918M

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.