Contact us  Enter Chinese version>>
Home Price Center Market News Company Data Download CFMS 2018
Western Digital Announces Financial Results For Fourth Quarter And Fiscal Year 2018
Source: Western Digital   Editor: Helan   Update Time :2018/7/27 16:41:17

Fiscal 2018 Revenue Grows to $20.6 Billion, +8% Year-over-Year

Authorizes New $5 Billion Share Repurchase Program

Western Digital Corp.today reported revenue of $5.1 billion for its fourth fiscal quarter ended June 29, 2018. Operating income was $843 million with net income of $756 million, or $2.46 per share. Excluding certain non-GAAP adjustments, the company achieved non-GAAP operating income of $1.3 billion and non-GAAP net income of $1.1 billion, or $3.61 per share.

In the year-ago quarter, the company reported revenue of $4.8 billion, operating income of $652 million and net income of $280 million, or $0.93 per share. Non-GAAP operating income in the year-ago quarter was $1.2 billion and non-GAAP net income was $881 million, or $2.93 per share.

The company generated $863 million in cash from operations during the fourth fiscal quarter of 2018, ending with $5.1 billion of total cash, cash equivalents and available-for-sale securities. On May 2, 2018, the company declared a cash dividend of $0.50 per share of its common stock, which was paid to shareholders on July 16, 2018.

For fiscal 2018, the company achieved record revenue of $20.6 billion, operating income of $3.6 billion and net income of $675 million, or $2.20 per share, compared to fiscal 2017 revenue of $19.1 billion, operating income of $2.0 billion and net income of $397 million, or $1.34 per share. On a non-GAAP basis, fiscal 2018 operating income was $5.4 billion and net income was $4.5 billion, or $14.73 per share, compared to fiscal 2017 operating income of $3.9 billion and  net income of $2.7 billion, or $9.19 per share. The company generated $4.2 billion in cash from operations during the fiscal year 2018 and returned $1.2 billion to shareholders through share repurchases and dividends.

"I am pleased with our financial performance as we report strong revenue, profitability and cash flow generation," said Steve Milligan, chief executive officer of Western Digital. "The Western Digital platform allows us to continue to deliver differentiated financial performance enabling us to effectively navigate dynamic market conditions. With a deepening customer engagement, and our growing exposure to secular growth areas such as mobility and cloud, we remain poised to deliver compelling long-term shareholder value."

The company also announced that its Board of Directors has authorized a new $5 billion share repurchase program, replacing all prior programs.

"Western Digital's products and solutions are a key enabler of the ongoing growth in the volume and value of data. Our differentiated performance has demonstrated the stability, reliability and resiliency of our business model," said Steve Milligan. "This new significant share repurchase authorization reflects ongoing confidence in the fundamentals of our business and its cash flow generation capabilities. We believe it is an excellent capital allocation opportunity to enhance long-term shareholder value."

Home | About ChinaFlashMarket | Privacy policy | Contact us | Help
© 2008-2018 Shenzhen Flashmarket Information Co., Ltd. All rights reserved