Amsterdam, 6 november 2007 - Western Digital Corp. (NYSE: WDC) heeft in het eerste kwartaal van zijn boekjaar 2008 een omzet gerealiseerd van $ 1,766 miljard, waarvan $ 1,726 miljard voor rekening kwam van harddrives en $ 40 miljoen van media- en randapparatuur. De omzet in harddrives groeide ten opzichte van het eerste kwartaal van boekjaar 2007 met 37 procent. Het aantal verkochte apparaten steeg tot 29,4 miljoen, een stijging van 29 procent ten opzichte van hetzelfde kwartaal van het vorige boekjaar.
De GAAP-nettowinst in het eerste kwartaal van boekjaar 2008 bedroeg $ 69 miljoen of 31 dollarcent per aandeel. Dit is inclusief eenmalige belastingen van $ 60 miljoen die zijn gerelateerd aan de harddrive-activiteiten van WD en inclusief de resultaten van overnames in de periode 5 tot 28 september 2007 (met acquisitiegerelateerde onderzoeks- en ontwikkelingsuitgaven van $ 49 miljoen.)
#####
Hieronder vindt u het volledige Engelstalige persbericht.
Over WD
Western Digital, een van de marktleiders en eerste spelers in de storagemarkt, biedt producten en diensten voor mensen en organisaties die digitale informatie verzamelen, beheren en toepassen. Western Digital produceert kwalitatief hoogwaardige en betrouwbare hard drives met een hoge beschikbaarheid, die data snel beschikbaar maken en goed beschermd houden. Western Digital is opgericht in 1970. De storageproducten worden geleverd aan systeemproducenten en geselecteerde resellers onder de merknaam Western Digital. Voor meer informatie:
www.westerndigital.com.
Voor meer informatie:
WD
Daniel Mauerhofer
EMEA Public Relations
+49 (89) 92 20 06-46
Daniel.Mauerhofer@wdc.com Lammers van Toorenburg Benelux PR
Dennis Hompes / Naomi Samson
+31 (0)30 - 65 65 070
WD@lvtpr.nl WD ANNOUNCES Q1 REVENUE OF $1.8 BILLION AND GAAP NET INCOME OF $69 MILLION, OR $.31 PER SHARE
Non-GAAP Net Income of $182 Million, or $.81 Per Share; HDD Revenue Grows 37 Percent, Units 29 Percent Year-Over-Year
* LAKE FOREST, Calif. - Nov. 1, 2007 - Western Digital Corp. (NYSE: WDC) today reported revenue of $1.766 billion, comprised of $1.726 billion of hard drive revenue and $40 million revenue from media and substrate sales. Hard drive revenue grew by 37 percent over the prior-year comparative period on shipments of 29.4 million units, an increase of 29 percent in unit volume.
GAAP net income for the quarter was $69 million, or $.31 per share. This includes net non-recurring tax charges of $60 million related to WD's ongoing hard drive operations and the results of the company's newly acquired media operations from Sept. 5 through Sept. 28, 2007, including acquisition-related, in-process research and development charges of $49 million.
Excluding the non-recurring tax charges, non-GAAP consolidated net income was $129 million, or $.58 per share. Excluding the tax charges and the impact of the Komag acquisition, non-GAAP HDD revenue was $1.726 billion, unit shipments were 29.4 million and non-GAAP HDD net income was $182 million, or $.81 per share. A year ago, the company reported first quarter revenue of $1.264 billion, unit shipments of 22.7 million, and net income of $103 million, or $.46 per share.
In Q1, while achieving strong quarter-over-quarter growth in the high-volume desktop market, the company for the first time derived more than half its quarterly hard drive revenue from non-desktop PC applications. Fifty-three percent of hard drive revenue was from these applications, including notebook PCs, consumer electronics, enterprise applications and branded product retail sales. This compares with a mix in the year-ago quarter of 35 percent non-desktop PC revenue.
The company's unit shipments for the first quarter included approximately 5.9 million 2.5-inch hard drives for mobile applications and approximately 3.7 million 3.5-inch hard drives for use in digital video recorders. Branded products accounted for 18 percent of Q1 revenue, continuing to demonstrate the value of WD's global brand leadership.
The company generated $219 million in cash from operations during the September quarter, ending with total cash and short-term investments of $851 million. The company borrowed $750 million on its $1.25 billion bridge financing facility to help fund the Komag acquisition.
"Our first quarter results reflect the WD team's strong execution in a strong market for hard drives across all applications, regions and channels," said John Coyne, WD's president and chief executive officer. "We continue to reap the benefits of our investments and deployment of leading technologies over the last several years, enabling us to address customer demand for mainstream and higher capacity hard drives in consumer and commercial applications."
Specifically, Coyne noted growing shipments of the company's 250 GB WD Scorpio® 2.5-inch and high capacity 3.5-inch hard drives-all based on newer technologies including the company's PMR (perpendicular magnetic recording) heads.
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 accessible and secure from loss. WD applies its storage expertise to consumer products for external, portable and shared storage products.
WD was founded in 1970. The company's storage products are marketed to leading systems manufacturers, selected resellers and retailers 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.
This press release presents revenue, net income and earnings per share on a GAAP and a non-GAAP basis. The non-GAAP financial measures are reconciled to the corresponding GAAP measures in the financial tables included at the end of this press release.
This press release contains the company's unaudited financial results for its first quarter, which are based, in part, on estimates made during the preliminary purchase price allocation of the assets acquired and liabilities assumed through the Komag acquisition. These results may change as additional information becomes available or as a result of continuing review by the company's independent auditors and management. Changes, if any, would be made no later than the date of filing of the Company's Form 10-K for fiscal 2008. This press release also contains forward-looking statements concerning the strong market for hard drives, WD's belief that its investment and deployment of leading technologies will enable it to address growing customer demand for mainstream and higher capacity hard drives and the growing shipments of WD's 250 GB WD Scorpio 2.5-inch and high capacity 3.5-inch hard drives. These forward-looking statements are based on WD's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including the risk that WD's business will suffer during the integration of WD's recently acquired media operations; failure to quickly and effectively integrate WD's recently acquired media technology with WD's head technology; uncertainties regarding managing relationships with WD's external media suppliers, media component suppliers, and external media customers; supply and demand conditions in the hard drive industry; actions by competitors; unexpected advances in competing technologies such as flash memory; uncertainties related to the development and introduction of products based on new technologies and successful expansion into new hard drive markets; business conditions and growth in the mobile PC, consumer electronics, enterprise, external hard drive and desktop markets; pricing trends and fluctuations in average selling prices; changes in the availability and cost of specialized product components that WD does not make internally and commodity materials; and other risks and uncertainties listed in WD's recent Form 10-K filed with the SEC Aug. 28, 2007, to which your attention is directed. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and WD undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.