Western Digital Corp. (NASDAQ: WDC) today reported revenue of $3.3 billion and net income of $251 million, or $1.07 per share, for its second fiscal quarter ended Jan. 1, 2016. On a non-GAAP basis, net income was $374 million, or $1.60 per share. In the year-ago quarter, the company reported revenue of $3.9 billion and net income of $438 million, or $1.84 per share. Non-GAAP net income in the year-ago quarter was $539 million, or $2.26 per share.
The company generated $598 million in cash from operations during the second fiscal quarter, ending with total cash and cash equivalents of $5.4 billion. On Nov. 3, 2015 the company declared a cash dividend of $0.50 per share of its common stock, which was paid on Jan. 15, 2016.
"We continue to execute well as we manage our business within an increasingly challenging global economic environment," said Steve Milligan, chief executive officer. "Despite a lower-than-expected hard drive total available market, we reported revenue and EPS within our guidance range, with non-GAAP gross margin of 28.5 percent. We also had strong free cash flow performance of $449 million. Our storage shipments for the December quarter grew to 69.1 exabytes."
Recommended for You
Latest News Posts
- Apple's iPod changed the world of music 15 years ago
- ARK: Survival Evolved update: new dinos, maps, and more
- AT&T buys HBO, Warner Bros., and CNN for $80 billion
- Shadow Warrior 2 patched, includes several optimizations
- PS4 Pro 'turns off half the GPU' to run normal PS4 games
- Battlefield 1 Multiplayer Gameplay Thoughts
- GA-PH67A-UD3-B3 Resume fail after suspend with Linux
- h61m-dgs gigabyte not see DDR_A1
- BSI3H-6100 long time to post
- Patriot Memory LX 200GB microSD Memory Card Review
- Eurocom launches the ultrathin 15.6' Sky M5 R2 VR Ready gaming laptop with Intel Core i7 6700HQ, NVIDIA GeForce GTX 1060 (6 GB GDDR5), 4G LTE support, 64 GB DDR4 memory, 6 TB SSD storage
- ENERMAX releases Steelwing aluminum case
- ENERMAX Platimax D.F. PSU is available now
- ENERMAX launches Revolution Duo power supply with DUOFlowTM design for active ventilation
- Razer unveils new Razer Blade Pro gaming notebook