Western Digital Corp. today reported revenue of $3.8 billion and net income of $495 million, or $2.05 per share for its first fiscal quarter ended Sept. 27, 2013. On a non-GAAP basis, net income was $514 million or $2.12 per share. In the year-ago quarter, the company reported revenue of $4.0 billion, net income of $519 million, or $2.06 per share. Non-GAAP net income in the year-ago quarter was $594 million, or $2.36 per share.
The company generated $680 million in cash from operations during the September quarter, ending with total cash and cash equivalents of $4.9 billion. During the quarter, the company utilized $150 million to buy back 2.3 million shares of common stock. On Sept. 19, the company declared a $0.25 per common share dividend, which was paid on Oct. 15.
"We continued to perform well in the September quarter as we remained focused on delivering value to our customers through differentiated and innovative storage solutions in all of our served markets," said Steve Milligan, president and chief executive officer. "Our HGST and WD subsidiaries continued to execute very well. Outstanding linearity drove strong operating results, with gross margins above the midpoint of our model range and earnings per share well above the high end of our guidance. Longer term, we are very excited about our ability to enable the ongoing creation, storage and management of digital content by consumers and businesses."
Recommended for You
Latest News Posts
- How to build dynamic web apps with Angular JS
- Samsung Galaxy S8 rumored to rock a 4K display
- Google rumored to acquire Twitter, news to break soon
- No Man's Sky now has less than 1000 players on Steam
- Doom update adds Deathmatch, private matches
- Lian Li O Series Multiple Expansion card support
- asrock fatality h170 performance red light on bios and not monitor output no beeps
- Anidees AI Crystal Mid-Tower Chassis Review
- Ram upgrade and settings
- GIGABYTE X150M-PRO ECC Xeon Motherboard Review
- Antec and Razer team up to co-brand a new Mini-ITX gaming chassis
- Samsung Electronics accelerates the NVMe era for consumers with its highest performing 960 PRO and EVO Solid State Drives
- Lighting is in the Aer: NZXT launches Aer RGB, premium LED PWM fans
- Syber Gaming delivers VR and 4K-ready 'C Series' small form factor gaming PC
- HyperX Gears of War gaming headset shipping now