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
- Deus Ex: Mankind Divided's pre-order scheme could change everything
- Ocarina of Time gets an enchanting Unreal Engine 4 makeover
- ASUS unveils the new Poseidon Platinum GTX 980 Ti video card
- Sony unveils the Xperia Z5 Premium, the world's first 4K smartphone
- Hideo Kojima: The players are everything, I get my energy from them
- ACPI wakeup/shutdown no longer works after UEFI flash.
- Purchasing case fans in Taiwan
- Strontium Nitro 566X 64GB MicroSDXC and USB Type-C Reader Review
- does ASRock Z97 Anniversary ATX LGA1150 support window 10 with the G3258 cpu?
- Seagate Backup Plus STDA4000100 4TB External Portable HDD Review
- SEAGATE DELIVERS INDUSTRY'S BROADEST PORTFOLIO OF 8TB HARD DRIVES
- CYBERTRONPC ANNOUNCES SMALL FORM FACTOR SYSTEM WITH AMD R9 NANO GRAPHICS CARD
- SilverStone Storage Devices - Mobile Series - MS08
- ASRock Z170 OC Formula Sets More Records at IDF 2015 San Francisco!
- ATTO Technology to Display Network and Storage Connectivity Portfolio at VMworld 2015