Western Digital has reported revenue of $4.0 billion and net income of $430 million, or $1.77 per share for its second fiscal quarter ended December 27, 2013. On a non-GAAP basis, net income earned was $532 million or $2.19 per share. In the year-ago quarter, the Company reported revenue of $3.8 billion, net income of $335 million, or $1.36 per share. Non-GAAP net income in the year-ago quarter was $513 million, or $2.09 per share.
“We executed well in the December quarter as we continue participating in the ongoing growth of data in all of our served markets,” said Steve Milligan, President & Chief Executive Officer, WD.
Milligan added, “We continue to be very excited about our unique position in the storage ecosystem, enabling a broad-based perspective on the dramatic changes that are under way. Strategically, we are well positioned to play a leadership role by innovating and collaborating with our customers to define the future digital data landscape.”
The Company generated $727 million in cash from operations during the December quarter, ending with total cash and cash equivalents of $4.7 billion. During the quarter, the Company utilized $150 million to buy back 2.0 million shares of common stock. On November 13, the Company declared a $0.30 per common-share dividend, which was paid on January 15.
