8-KRegulation FDExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Regulation FD Disclosure (Sep 10, 2007)

Filed September 10, 2007For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K on September 10, 2007, to disclose an improved business outlook for its first fiscal quarter ending September 28, 2007. This update includes guidance on both GAAP and non-GAAP measures. The company is also providing context for these updated figures by detailing how they are presented, particularly concerning the recent acquisition of Komag, Incorporated on September 5, 2007. The non-GAAP measures will exclude Komag's operational impact from its acquisition date through the end of September. Western Digital states this exclusion is to enable a more meaningful comparison to previously issued guidance. Investors should note that while this information is provided to enhance understanding, non-GAAP measures should be considered alongside GAAP data and not as a replacement. The filing also contains forward-looking statements detailing various risks and uncertainties that could impact future results.

Key Highlights

  • 1Western Digital Corporation (WDC) issued an improved business outlook for its first fiscal quarter of 2007.
  • 2The updated outlook covers the quarter ending September 28, 2007.
  • 3Guidance is provided on both Generally Accepted Accounting Principles (GAAP) and non-GAAP measures.
  • 4The acquisition of Komag, Incorporated, completed on September 5, 2007, is a significant factor in the reporting.
  • 5Non-GAAP financial measures will exclude Komag's financial impact from its acquisition date through September 28, 2007, to facilitate comparison with prior guidance.
  • 6The company emphasizes that non-GAAP measures should not be used in isolation but alongside GAAP financial information.
  • 7The filing includes standard forward-looking statements detailing potential risks and uncertainties.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce an improved business outlook for Western Digital Corporation's first fiscal quarter ending September 28, 2007. It also provides context regarding the recent acquisition of Komag, Incorporated.

The acquisition of Komag, Inc. on September 5, 2007, is reflected in the reporting. Specifically, the company will report its business outlook on both GAAP and non-GAAP bases. The non-GAAP measures will exclude Komag's operational results from its acquisition date through the end of September to allow for a more comparable view against prior guidance.

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) results. In this case, WDC is excluding the impact of the Komag acquisition to provide what they believe is a more meaningful comparison to their previously issued guidance from July 26, 2007. However, investors should always consider these non-GAAP measures alongside GAAP results.

The filing outlines several risks, including potential difficulties in integrating the Komag acquisition, managing supplier and customer relationships, fluctuations in hard drive industry supply and demand, competitor actions, technological advancements (like flash memory), product development, market growth in various segments (mobile PC, consumer electronics, enterprise), pricing trends, and the availability/cost of components and materials. Investors are advised to refer to WDC's Form 10-K filed on August 28, 2007, for a more comprehensive list of risks.