LAKE FOREST, Calif. - Jul. 28, 2006 - Western Digital Corp. (NYSE: WDC) today reported revenue of $1.1 billion on shipments of approximately 19.2 million hard drives, and net income of $119.9 million, or $.53 per share for its fourth fiscal quarter ended June 30, 2006. Net income included approximately $35 million in favorable adjustments. Revenue increased 15 percent over the fourth quarter of the prior year, and net income, including the favorable adjustments, increased 191 percent, versus revenue of $940 million and net income of $41.2 million, respectively. Net income in the prior year fourth quarter was negatively affected by a $19 million expense for settlement of a lawsuit.
The favorable adjustments in net income in the fourth quarter included a $13 million benefit to gross margin related to the resolution of certain items that impacted amounts previously recorded as costs, and a $22 million benefit to income taxes related to an adjustment to the value of the company's deferred tax assets.
About WD WD, one of the storage industry's pioneers and long-time leaders, provides products and services for people and organizations that collect, manage and use digital information. The company produces reliable, high-performance hard drives that keep users' data close-at-hand and secure from loss.
WD was founded in 1970. The company's storage products are marketed to leading systems manufacturers and selected resellers under the Western Digital and WD brand names. Visit the Investor section of the company's Web site (
www.westerndigital.com) to access a variety of financial and investor information.
Voor meer informatie of digitaal fotomateriaal: Daniel Mauerhofer Lammers van
Toorenburg Benelux PR
EMEA Public Relations Dennis Hompes / Joffrey
Vermeule
+49 (89) 92 20 06-46 +31 (0)30 - 65 65 070
Daniel.Mauerhofer@wdc.com WD@lvtpr.nl