Bangkok--2 Feb--Pr Plus Two
Western Digital® Corp. (NASDAQ: WDC) today reported revenue of US$3.9 billion and net income of US$460 million, or US$1.93 per share, for its second fiscal quarter ended Jan. 2, 2015. On a non-GAAP basis, net income was US$539 million or US$2.26 per share. In the year-ago quarter, the company reported revenue of US$4.0 billion and net income of US$430 million, or US$1.77 per share. Non-GAAP net income in the year-ago quarter was US$532 million, or US$2.19 per share.
The company generated US$243 million in cash from operations during the December quarter, net of the Seagate arbitration award payment of US$773 million, ending with total cash and cash equivalents of US$4.9 billion. During the December quarter, the company utilized US$309 million to repurchase 3.2 million shares of common stock. On Nov. 4, the company declared a US$0.40 per common-share dividend, which was paid on Jan. 15.
“We delivered strong financial results in the December quarter, with better-than-anticipated revenues, gross margins, and earnings,” said Steve Milligan, president and chief executive officer. “The diversified nature of our business and solid execution by our HGST and WD® subsidiaries are enabling us to consistently deliver strong financial performance. Also, I am encouraged by the market’s response to our strategic growth initiatives, which we believe position the company to thrive in the evolving data storage ecosystem.”
About Western Digital
Founded in 1970, Western Digital Corp. (NASDAQ: WDC), Irvine, Calif., is an industry-leading developer and manufacturer of storage solutions that enable people to create, manage, experience and preserve digital content. Its HGST and WD® subsidiaries are long-time innovators in the storage industry. Western Digital Corporation is responding to changing market needs by providing a full portfolio of compelling, high-quality storage products with effective technology deployment, high efficiency, flexibility and speed. Our products are marketed under the HGST, WD and G-Technology™ brands to OEMs, distributors, resellers, cloud infrastructure providers and consumers. Financial and investor information is available on the company's Investor Relations website at investor.wdc.com. WD Thailand facebook fan page, click: http://www.facebook.com/wdcthailand
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the company's strategic investments positioning, execution and financial performance. These forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including volatility in global economic conditions; business conditions and growth in the storage ecosystem; pricing trends and fluctuations in average selling prices; the availability and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; the development and introduction of products based on new technologies and expansion into new data storage markets; and other risks and uncertainties listed in the company's filings with the Securities and Exchange Commission (the "SEC"), including the company's Form 10-Q filed with the SEC on Nov. 4, 2014, and the company's registration statement on Form S-3 filed with the SEC on Nov. 5, 2014, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect new information or events.
Western Digital, WD and the WD logo are registered trademarks in the U.S. and other countries. HGST trademarks are intended and authorized for use only in countries and jurisdictions in which HGST has obtained the rights to use, market and advertise the brand. Other marks may be mentioned herein that belong to other companies.
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