Western Digital Announces Q2 Revenue Of $3.8 Billion And Non-GAAP Net Income Of $513 Million, Or $2.09 Per Share(1)

Related: News

Western Digital Announces Q2 Revenue Of $3.8 Billion And Non-GAAP Net Income Of $513 Million, Or $2.09 Per Share(1)

Western Digital Corp. today reported revenue of $3.8 billion, hard-drive shipments of 59.2 million and net income of $335 million, or $1.36 per share for its second fiscal quarter ended Dec. 28, 2012. On a non-GAAP basis, net income was $513 million or $2.09 per share.1 In the year-ago quarter, the company reported revenue of $2.0 billion, net income of $145 million, or $0.61 per share, and shipped 28.5 million hard drives. Non-GAAP net income in the year-ago quarter was $358 million, or $1.51 per share.2

The company generated $772 million in cash from operations during the December quarter, ending with total cash and cash equivalents of $3.8 billion. During the quarter, the company utilized $146 million to buy back 4.2 million shares of common stock. On Dec. 3, the company declared a $0.25 per common share dividend, which was paid on Dec. 26.

"We are pleased with our December quarter results, reflecting outstanding execution and value creation by our HGST and WD teams," said Steve Milligan, president and chief executive officer. "In an environment marked by continued macroeconomic uncertainty, soft PC demand and inventory rebalancing by our customers, we continue to manage our business by focusing on those variables that we control, allowing us to generate better than expected revenue and profitability and strong cash generation."

The investment community conference call to discuss these results will be broadcast live over the Internet today at 3 p.m. Pacific/6 p.m. Eastern. The live and archived conference call webcast can be accessed online at investor.wdc.com. The telephone replay number is 888-568-0860 in the U.S. or +1-402-998-0245 for international callers.




More On: News



Comment & Share

Related Links
Phone2Action Announces New Advisory BoardPhone2Action Announces New Advisory Board
April 24, 2014
Dell Advances Open Networking Initiative, Expands Program with Addition of Big Switch NetworksDell Advances Open Networking Initiative, Expands Program with Addition of Big Switch Networks
April 24, 2014
Exciting New Weight Loss Challenge Emerges as Means to Motivate via Monetary RewardExciting New Weight Loss Challenge Emerges as Means to Motivate via Monetary Reward
April 24, 2014
Eniro: Eniro's Annual General Meeting 2014Eniro: Eniro's Annual General Meeting 2014
April 24, 2014
E! Online and LiveU to Stream Billboard Latin Music Awards Red Carpet Using LU500E! Online and LiveU to Stream Billboard Latin Music Awards Red Carpet Using LU500
April 24, 2014


About Author

Subscribe to Author Alerts

Subscribe for News & Specials