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
- God of War reaches a massive 5 million units sold
- The Wolf Among Us Season Two hit with 2019 delay
- Nintendo's '2nd Unit Set' for the Switch is dockless, $230
- Resident Evil 2 remake: RE7 engine, 4K 60FPS on PS4 Pro
- Fortnite made almost $300 million in April
- best value budget upgrade path
- Buy 3 Pieces Samsung Galaxy S9 SM-G960UZKAXAA 128GB $1.422
- X58a-ud5 rev 1.0 Bios with VT-d support
- HyperX FURY DDR4-3466 16GB Dual-Channel Memory Kit Review
- If I use the M2_1 slot in the x470 Taichi Ultimate ,will it take away PCIE lanes from the GPU?
- Micron Launches Industry's First Enterprise SATA Solid State Drives Built on Leading 64-layer 3D NAND Technology
- Micron, Rambus, Northwest Logic and Avery Design to Deliver a Comprehensive GDDR6 Solution for Next-Generation Applications
- 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