Western Digital Announces Q1 Revenue of $3.8 Billion and Non-GAAP Net Income of $514 Million, or $2.12 Per Share1
Chief executive Steve Milligan said the storage supplier "continued to perform well," but barely scraped through Wall Street expectations on earnings per share and revenue. Western Digital makes storage and networked-storage units (Image: CNET) MANILA, Philippines — Oct. 29 , 2013 — Western Digital® Corp. (NASDAQ: WDC) 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.1 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.2 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 ...