WD Announces Q4 Revenue of $1.9B

Western Digital Corp. today reported financial results for its fiscal year 2009 and fourth quarter ended July 3, 2009. For fiscal year 2009, the company posted revenue of $7.5 billion, net income of $470 million, or $2.08 per share, compared to $8.1 billion in revenue, and net income of $867 million, or $3.84 per share for the prior year. The 2009 net income amount included a $14 million in-process research and development charge related to the acquisition of SiliconSystems Inc., $112 million of restructuring charges, an $18 million gain on the sale of assets from the company's media substrate manufacturing facility in Sarawak, Malaysia and $4 million of tax benefits associated with the restructuring charges. Excluding these amounts, the 2009 non-GAAP net income was $574 million, or $2.54 per share. The 2008 net income amount included net charges of $60 million for taxes related to the license of intellectual property to subsidiaries and $49 million for acquired in-process research and development related to the acquisition of Komag Inc. Excluding these amounts, 2008 non-GAAP net income was $976 million, or $4.32 per share.

Comments