Friday, April 27, 2018

WD Announces Financial Results for Third Fiscal Quarter 2018

WD today reported revenue of $5.0 billion for its third fiscal quarter ended March 30, 2018. Operating income was $914 million with net income of $61 million, or $0.20 per share. The GAAP net income for the period includes debt extinguishment costs related to the company's debt financing transactions. Excluding these charges and after other non-GAAP adjustments, the company achieved non-GAAP operating income of $1.3 billion and non-GAAP net income of $1.1 billion, or $3.63 per share. 

In the year-ago quarter, the company reported revenue of $4.6 billion, operating income of $525 million and net income of $248 million, or $0.83 per share. Non-GAAP operating income in the year-ago quarter was $1.0 billion and non-GAAP net income was $716 million, or $2.39 per share. The company generated $1.0 billion in cash from operations during the third fiscal quarter of 2018, ending with $5.1 billion of total cash, cash equivalents and available-for-sale securities. On Jan. 27, 2018, the company declared a cash dividend of $0.50 per share of its common stock, which was paid to shareholders on April 16, 2018.