Western Digital Corp. today reported revenue of $4.0 billion, hard-drive shipments of 62.5 million and net income of $519 million, or $2.06 per share for its first fiscal quarter ended Sept. 28, 2012. On a non-GAAP basis, net income was $594 million or $2.36 per share. In the year-ago quarter, the company reported revenue of $2.7 billion, net income of $239 million, or $1.01 per share, and shipped 57.8 million hard drives. Non-GAAP net income in the year-ago quarter was $260 million, or $1.10 per share.

The company generated $936 million in cash from operations during the September quarter, ending with total cash and cash equivalents of $3.5 billion. During the quarter, the company utilized $218 million to buy back 5.2 million shares of common stock. On Sept.13, the company declared a $0.25 per common share dividend, which was paid Oct. 15.

"We are pleased to deliver another quarter of strong financial performance, continuing our track record of consistent execution," said John Coyne, chief executive officer. "While the macroeconomic environment is dampening near term demand, we remain confident in the continued long-term growth in the creation, storage and management of digital content. Western Digital has never been better positioned to address this opportunity, with great people, deep technology, a broad product portfolio and strong customer and supplier relationships."

The investment community conference call to discuss these results will be broadcast live over the Internet today at 2 p.m. Pacific/5 p.m. Eastern. The live and archived conference call webcast can be accessed online at investor.wdc.com.