29 January 2015 — 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.”
