Western Digital Corp. (NASDAQ: WDC) today reported revenue of $12.5 billion and net income of $1.6 billion, or $6.58 per share for fiscal year 2012, compared to fiscal 2011 revenue of $9.5 billion and net income of $726 million, or $3.09 per share. On a non-GAAP basis, fiscal 2012 net income was $2.1 billion or $8.61 per share, compared to fiscal 2011 net income of $770 million or $3.28 per share. Both the GAAP and non-GAAP fiscal 2012 results include results from the company's newly acquired HGST subsidiary from the acquisition date of March 8 through the end of fiscal 2012.
For its fourth fiscal quarter ended June 29, 2012, the company reported revenue of $4.8 billion, hard-drive shipments of 71.0 million and net income of $745 million, or $2.87 per share. On a non-GAAP basis, net income was $872 million, or $3.35 per share.2 In the year-ago quarter, the company reported revenue of $2.4 billion, net income of $158 million, or $0.67 per share, and shipped 53.8 million hard drives. Non-GAAP net income in the year-ago quarter was $193 million, or $0.81 per share.
The company generated $1.1 billion in cash from operations during the June quarter, ending with total cash and cash equivalents of $3.2 billion. During the quarter, the company repaid $558 million of debt and spent $604 million to buy back over 16 million shares of common stock.
"Fiscal 2012 was one of the most challenging and exciting years in our 42-year history," said John Coyne, chief executive officer. "While responding to two major natural disasters and completing the largest acquisition in the history of the industry, we achieved year-over-year revenue growth of 31 percent and more than doubled earnings per share.
"In the June quarter, demand was in line with our forecast as industry shipments reached 157 million units, bringing total HDD shipments for the year to 599 million units. Our WD and HGST subsidiaries both performed ahead of plan in Q4, delivering great products with consistent execution, resulting in strong revenue growth, gross margin and cash flows."
The investment community conference call to discuss these results and the company's September quarter and fiscal year 2013 outlook will be broadcast live over the Internet today at 2 p.m. Pacific/5 p.m. Eastern. The live and archived conference call webcast can be accessed online at investor.wdc.com. The telephone replay number is 800-274-1341 in the U.S. or +1-203-369-3636 for international callers.
Latest News Posts
- Gabe Newell gave away HTC Vive Pre's like Santa Claus, no really
- LG unveils the touch-enabled Quick Cover for its unannounced G5 phone
- Rocket League's second season kicks off with a bang
- Quantum Break not an Xbox One Exclusive, coming to PC on April 5th
- Blade and Soul getting new content after reaching 2 million players
- more a what's your opinion on motherboard replacement re: asus 1225b
- Debug 62
- Asrock z97e-itx/ac Bifurcation Support
- Intel Compute Stick "2" STK1AW32SC 2GB Windows 10 Review
- Cougar 450M Ambidextrous Optical Gaming Mouse Review
- ESL Hearthstone Legendary Series returns to Intel Extreme Masters Katowice 2016
- HIDEO KOJIMA AND GUILLERMO DEL TORO CONFIRMED AS D.I.C.E. SUMMIT KEYNOTE SPEAKERS
- Toshiba Introduces the Next Generation OCZ Trion 150 Series Solid-State Drive Series
- Thermaltake Kicks Off 2016 MFC (Modding Fighting Championship)
- AMD Offers New Thermal Solutions and New Processors for Reliable, Near-Silent Performance