Western Digital® Corp. (NASDAQ: WDC) reported revenue of US$3.4 billion and net income of US$283 million, or US$1.21 per share, for its first fiscal quarter ended Oct. 2, 2015. On a non-GAAP basis, net income was US$366 million, or US$1.56 per share. In the year-ago quarter, the company reported revenue of US$3.9 billion and net income of US$423 million, or US$1.76 per share. Non-GAAP net income in the year-ago quarter was US$504 million, or US$2.10 per share. The company generated US$545 million in cash from operations during the first fiscal quarter, ending with total cash and cash equivalents of US$5.1 billion. It utilized US$60 million to repurchase 0.7 million shares of its common stock. On Aug. 4, the company declared a cash dividend of US$0.50 per share of its common stock, which was paid on Oct. 15. "I am pleased with our execution and performance in the first fiscal quarter," said Steve Milligan, chief executive officer of Western Digital. "We continue to benefit from our strong product and technology positioning in today’s storage market. I am very excited about our future and ability to create long term value in the evolving storage ecosystem, especially in light of our three recent announcements regarding the planned investment in our company by Unisplendour, the MOFCOM decision and our planned acquisition of SanDisk."
