Today's Hard|Forum Post
Today's Hard|Forum Post

Thursday October 29, 2015

Western Digital Announces Financial Results For First Quarter Fiscal 2016

Western Digitalآ® Corp. today reported revenue of $3.4 billion and net income of $283 million, or $1.21 per share, for its first fiscal quarter ended Oct. 2, 2015. On a non-GAAP basis, net income was $366 million, or $1.56 per share. In the year-ago quarter, the company reported revenue of $3.9 billion and net income of $423 million, or $1.76 per share. Non-GAAP net income in the year-ago quarter was $504 million, or $2.10 per share. The company generated $545 million in cash from operations during the first fiscal quarter, ending with total cash and cash equivalents of $5.1 billion. It utilized $60 million to repurchase 0.7 million shares of its common stock. On Aug. 4, the company declared a cash dividend of $0.50 per share of its common stock, which was paid on Oct. 15.

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