Western Digital Gets USD 3.8 Billion

Western Digital (WD) reported financial results for the second fiscal quarter ended March 29, 2013. For income, WD earned $ 3.8 billion, up from winning the USD 3 billion in the same quarter last year.

But for the profit side, the digital storage media maker earned less than satisfactory results. WD’s net profit stood at USD 391 million, down from last year which exceeded USD 483 million.

As for shipping the hard drive as much as 60.2 million units for the third fiscal quarter ended March 29, 2013. While in the year-ago quarter, sending 44.2 million WD hard drive.

Non-GAAP net income in the year-ago quarter amounted to USD 619 million or USD 2.52 per share.

WD generating $ 727 million in cash from operations during the March quarter, bringing the total cash and cash equivalents are held at USD 4.1 billion.

During this quarter, WD uses USD 243 million to buy back 5.2 million shares of common stock. On February 14, WD announced common stock dividend of $ 0.25 which was paid on April 15.

“Strong execution by our HGST and WD subsidiaries encourage outstanding results in the March quarter as we continue to capitalize on the secular growth of digital data,” said Steve Milligan, president and chief executive officer of WD.

“Demand for the industry as a whole is in line with our expectations. In our business, we saw strength in corporate, stable performance in client and consumer electronics, and some seasonal softness is already anticipated in the branded product,” he said, in a written statement on Wednesday (08.05.2013).

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