Western Digital announces Q1 revenue of $2.7 billion

Western Digital Corp. (NYSE: WDC) today reported revenue of $2.7 billion, hard-drive unit shipments of 58 million and net income of $239 million, or $1.01 per share, for its first fiscal quarter ended Sept. 30, 2011. The company's results include expenses of $21 million associated with the planned acquisition of Hitachi Global Storage Technologies (Hitachi GST) announced Mar. 7, 2011 and unrelated litigation accruals. Excluding these expenses, non-GAAP net income was $260 million or $1.10 per share.

In the year-ago quarter, the company reported revenue of $2.4 billion, net income of $197 million, or $0.84 per share, and shipped 51 million hard drives. The company generated $352 million in cash from operations during the September quarter, ending with total cash and cash equivalents of $3.7 billion. For more information, refer to First Quarter Fiscal 2012 Investor Information Summary.

Source: Press Release