Western Digital® Corp. (NASDAQ: WDC) reported revenue of US$3.2 billion and net income of US$220 million, or US$0.94 per share, for its fourth fiscal quarter ended July 3, 2015. On a non-GAAP basis, net income was US$356 million, or US$1.51 per share. In the year-ago quarter, the company reported revenue of US$3.7 billion and net income of US$317 million, or US$1.32 per share. Non-GAAP net income in the year-ago quarter was US$445 million, or US$1.85 per share. The company generated US$488 million in cash from operations during the fourth fiscal quarter, ending with total cash and cash equivalents of US$5.0 billion. It utilized US$198 million to repurchase 2.0 million shares of its common stock. On May 5, the company declared a cash dividend of US$0.50 per share of its common stock, which was paid on July 15. For the 2015 fiscal year, the company achieved revenue of US$14.6 billion and net income of US$1.5 billion, or US$6.18 per share, compared to fiscal year 2014 revenue of US$15.1 billion and net income of US$1.6 billion, or US$6.68 per share. On a non-GAAP basis, fiscal year 2015 net income was US$1.8 billion, or US$7.76 per share, compared to fiscal year 2014 net income of US$2.0 billion, or US$8.10 per share. The company generated US$2.2 billion in cash from operations during the 2015 fiscal year and it utilized US$1.4 billion for dividends and share repurchases. “I am satisfied with our execution and performance in the fourth fiscal quarter in light of the weak PC market,” said Steve Milligan, president and chief executive officer. “Our financial performance reflects our strong product and technology positioning coupled with solid execution. We remain positive about the opportunity to create long term value in the evolving storage ecosystem.”
