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Western Digital Announces Record Financial Results

Discussion in 'News' started by btarunr, Jul 25, 2012.

  1. btarunr

    btarunr Editor & Senior Moderator Staff Member

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    Western Digital Corp. (NASDAQ: WDC) today reported revenue of $12.5 billion and net income of $1.6 billion, or $6.58 per share for fiscal year 2012, compared to fiscal 2011 revenue of $9.5 billion and net income of $726 million, or $3.09 per share. On a non-GAAP basis, fiscal 2012 net income was $2.1 billion or $8.61 per share, compared to fiscal 2011 net income of $770 million or $3.28 per share. Both the GAAP and non-GAAP fiscal 2012 results include results from the company's newly acquired HGST subsidiary from the acquisition date of March 8 through the end of fiscal 2012.

    For its fourth fiscal quarter ended June 29, 2012, the company reported revenue of $4.8 billion, hard-drive shipments of 71.0 million and net income of $745 million, or $2.87 per share. On a non-GAAP basis, net income was $872 million, or $3.35 per share.2 In the year-ago quarter, the company reported revenue of $2.4 billion, net income of $158 million, or $0.67 per share, and shipped 53.8 million hard drives. Non-GAAP net income in the year-ago quarter was $193 million, or $0.81 per share.

    The company generated $1.1 billion in cash from operations during the June quarter, ending with total cash and cash equivalents of $3.2 billion. During the quarter, the company repaid $558 million of debt and spent $604 million to buy back over 16 million shares of common stock.

    "Fiscal 2012 was one of the most challenging and exciting years in our 42-year history," said John Coyne, chief executive officer. "While responding to two major natural disasters and completing the largest acquisition in the history of the industry, we achieved year-over-year revenue growth of 31 percent and more than doubled earnings per share.

    "In the June quarter, demand was in line with our forecast as industry shipments reached 157 million units, bringing total HDD shipments for the year to 599 million units. Our WD and HGST subsidiaries both performed ahead of plan in Q4, delivering great products with consistent execution, resulting in strong revenue growth, gross margin and cash flows."

    The investment community conference call to discuss these results and the company's September quarter and fiscal year 2013 outlook 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. The telephone replay number is 800-274-1341 in the U.S. or +1-203-369-3636 for international callers.
     
    cadaveca says thanks.
  2. btarunr

    btarunr Editor & Senior Moderator Staff Member

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    Record results, and Thailand flood situation isn't "over" (HDD prices not back to normal).
     
    Prima.Vera says thanks.
  3. W1zzard

    W1zzard Administrator Staff Member

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    money flood
     
  4. cadaveca

    cadaveca My name is Dave

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    :rockout:
     
  5. btarunr

    btarunr Editor & Senior Moderator Staff Member

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    flood money

    (word play on "blood money")
     
  6. m1dg3t

    m1dg3t

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    QFT :pimp:

    Gotta love that shortage, eh? :roll:
     
  7. W1zzard

    W1zzard Administrator Staff Member

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    I suggest the following math for the EU commission:

    Drives sold: 71 million vs. 54 million = +31%
    Profit for 54 million drives = 770M .. let's add 31% = 950M

    Current net income: 1600M ... minus 950M = 700M -> 700M stolen from the customer.

    31% more drives sold shortage
     
  8. m1dg3t

    m1dg3t

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    Exactly. Like i said in some thread before; they introduced/"faked" scarcity to drive prices, and therefore, profits through the roof! It's an old trick used to make large profits quickly without spending much. The actual flood made it that much easier/believeable :eek:

    But people laughed at me saying they wouldn't/couldn't do that. Oh :shadedshu no they couldn't :rolleyes: :roll:
     
    Last edited: Jul 25, 2012
  9. Crap Daddy

    Crap Daddy

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    Although I suspected this I'm so mad that I can't even have a proper comment. They can all burn in hell!
     
    1c3d0g says thanks.
  10. 1c3d0g

    1c3d0g

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    :shadedshu Bastards! How the hell can the EU and their cohorts punish Google (which is already being attacked by all sides), and NOT initiate a thorough investigation into this hard drive business duopoly?!? This is pissing me off! :mad:
     
  11. Batou1986

    Batou1986

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    I love how the courts will go nuts when company's try to pull one over on other company's.
    But when company's try to pull one over on consumers there turn a blind eye and deaf ear.
     
  12. xanagu

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    And how r the prices supposed to be??
    I remember buying 2x3TB external hdd this month and last year, 150$ each. Is that pricey?
     
  13. Prima.Vera

    Prima.Vera

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    Well, is funny how a ..."natural disaster" can double your profits, right? ;)
     
  14. james888

    james888

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    Today, you only get one 3tb hdd for that price at newegg

    Do you think they are pricy now?
     
    Crunching for Team TPU
  15. xanagu

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    Never bought from the egg before.
    Amazon has 2tb 110$ ~ 3tb 150$ since last year, though
     
  16. james888

    james888

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    Same price at newegg as my link showed. The 3tb price point right now is $150. I also thought you said $150 for both not each. That was my mistake. I got my 500gb hdd for $50 before hdd's got expensive. Today its $80
     
    Crunching for Team TPU
  17. xanagu

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    ok, I get your point now.
    Kinda high for small sizes, not so much for big disk. Good for me at least:D
     
  18. Zakin

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    Year before last I was getting 1TB spinpoints for 50 dollars, that's why this is disappointing.
     
  19. RejZoR

    RejZoR

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    Like i said, the flood was just a lame excuse for price adjustment. You can't complain over horrible production loses on one end and report record income and profit on other end. It's just not logical unless you did it intentionally. Not the flooding, but the use of it to boost your income.
    I hope they burn in hell.
     
  20. dinmaster

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    the good thing out of this is that ssd's are going down in price and starting to push out hard drives.
     
  21. Riotpump

    Riotpump New Member

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    Yeah thanks to this my next drive will more than likely be an SSD. At least their prices are actually dropping.
     
  22. tacosRcool

    tacosRcool

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    No wonder they are making record profits price gouging off of the floods
     
  23. Fleurious

    Fleurious

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    I haven't bought a HDD since the prices first shot up, I did pick up 4 SSDs since then now that SSD pricing has come down so much.
     
  24. PopcornMachine

    PopcornMachine

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    I was assured by someone that the cost raises were adjustments to the flood situation and I just don't understand business like he did.

    But why so much extra profit then? Maybe I do know business.
     
  25. Static~Charge

    Static~Charge

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    profiteer, noun: a person who seeks or exacts exorbitant profits, especially through the sale of scarce or rationed goods.

    31% increase in number of drives sold, 73% increase in income. Greedy bastards....
     

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