8-KEarnings & ResultsExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Financial Results (Nov 1, 2007)

Filed November 1, 2007For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K on November 1, 2007, to report its financial results for the first fiscal quarter ended September 28, 2007. The filing primarily serves to attach the press release (Exhibit 99.1) and investor information summary (Exhibit 99.2) detailing these results. Investors should note that WDC plans to present financial information on both a GAAP and a non-GAAP basis. The company believes its non-GAAP measures are valuable for investors as they offer an alternative perspective on operational performance and comparability with prior periods, specifically by excluding certain non-recurring charges related to hard drive operations and the initial impact of its newly acquired media operations from the acquisition date of September 5, 2007, through the end of the quarter. The inclusion of non-GAAP figures is a key takeaway, suggesting the company is managing its reporting to highlight core operational trends while acknowledging the impact of integration and specific charges. Investors are encouraged to review both GAAP and non-GAAP figures to gain a comprehensive understanding of WDC's financial health and performance trajectory. The acquisition of media operations shortly before the quarter's end will likely be a significant point of discussion for understanding segment performance and overall company growth.

Key Highlights

  • 1WDC announced financial results for its first fiscal quarter ended September 28, 2007.
  • 2The 8-K filing includes a press release (Exhibit 99.1) and an investor information summary (Exhibit 99.2).
  • 3The company plans to report financial results on both GAAP and non-GAAP bases.
  • 4Non-GAAP measures are provided to offer investors an alternative view of operating performance.
  • 5Excluded from non-GAAP calculations are net non-recurring charges related to hard drive operations.
  • 6Also excluded are operating results and acquisition-related charges from newly acquired media operations from the acquisition date (September 5, 2007) through September 28, 2007.

Frequently Asked Questions

The primary purpose of this 8-K filing is to publicly announce and provide access to Western Digital Corporation's financial results for the first fiscal quarter ended September 28, 2007, through attached press release and investor information summary documents.

Western Digital believes that non-GAAP measures are useful to investors as they provide an alternative method for assessing the company's operating performance and comparing it against prior periods. These measures exclude items such as net non-recurring charges related to hard drive operations and the initial financial impact of the recently acquired media business.

Western Digital acquired its media operations on September 5, 2007. The financial results of these newly acquired operations are excluded from the non-GAAP reporting for the period from the acquisition date through September 28, 2007.

The non-GAAP financial results exclude net non-recurring charges related to Western Digital's ongoing hard drive operations and the operating results and acquisition-related charges (including in-process research and development) of its newly acquired media operations from September 5, 2007, to September 28, 2007.