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
- Animal Crossing Pocket Camp earns $17 million to date
- Nintendo to team up with more mobile games makers
- Street Fighter 30th anniversary collection includes 12 games
- Titan Quest coming to consoles in 2018, even Switch
- Lyft is officially open for service in Toronto, Canada
- OWC Mercury Helios 3 Thunderbolt 3 Enclosure Review
- Mionix Wei Ice Cream Mechanical Gaming Keyboard Review
- Buy Samsung Galaxy S8 Plus New 64GB SM-G955UZKAXAA $824
- Unable to use all 3 M.2's for RAID 0
- AMD Radeon Software Adrenalin Edition Drivers Detailed
- Toshiba Memory America Unveils UFS Devices Utilizing 64-Layer, 3D Flash Memory
- ASUS Announces GeForce GTX 1070 Ti Series Gaming Graphics Cards
- ASUS Announces ASUS Hangouts Meet Hardware Kit
- Colorful Announces iGame GeForce GTX 1070 Ti Vulcan X Top
- Gainward Announces its GeForce GTX 1070 Ti Series