Western Digital Corp. (NYSE: WDC) today reported revenue of $2.25 billion, hard-drive unit shipments of 50 million and net income of $146 million, or $0.62 per share, for its third fiscal quarter ended Apr. 1, 2011. The company's results include expenses of $10 million associated with the planned acquisition of Hitachi Global Storage Technologies announced Mar. 7, 2011. Excluding the acquisition-related expenses, non-GAAP net income was $156 million or $0.66 per share.
In the year-ago quarter, the company reported revenue of $2.64 billion, shipped 51 million hard drives, and reported net income and earnings per share of $400 million and $1.71, respectively. The company generated $313 million in cash from operations during the March quarter, ending with total cash and cash equivalents of $3.2 billion.
"The March quarter in the hard drive industry was impacted by two significant developments-the delayed supply of industry CPUs to PC makers and the tragic events in Japan," said John Coyne, president and chief executive officer. "While demand for hard drives in the quarter got off to a slow start, it later picked up as availability of CPUs improved and as fears took hold of component shortages related to the events in Japan.
"In relation to our planned acquisition of Hitachi GST, we are in the approval process with all required regulatory agencies, our integration planning is well underway and we have successfully syndicated the loan financing associated with the transaction."
Latest News Posts
- Netflix increases its $8.99 per month plan to $9.99 per month
- 'Furious 8' finally lands a director
- NVIDIA rumored to discontinue the 2GB version of the GeForce GTX 960
- Amazon's WWII alternate reality series is chilling
- Halo 5 has gone gold, campaign clocks in at between 8-12 hours
- Got a Gaming 9 ACK X99S MSI MB to trade ..
- Bootloop Issue with GA-Z97N-WiFi even after RMA
- D-Link DCH-S160 mydlink Wi-Fi Smart Home Water Sensor Review
- ga-z170x-UD5 m.2 raid and intel rst drivers will not let me install windows to the raid
- X99 Extreme 4 and Thunderbolt
- EVGA Gives Away Free Cooler Shroud Replacement to its HYBRID Series Owners
- Shuttle Offers Value Priced XPC Nano Small Form Factor PC
- MSI Announces the DS502 7.1 Gaming Headset with Active Noise-Cancelation
- Netgear Introduces Quad-Mode Business-Class Wireless-AC Access Points
- Nokia announces planned leadership and organizational structure for combined Nokia and Alcatel-Lucent