8-KEarnings & ResultsExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Financial Results (Apr 23, 2009)

Filed April 23, 2009For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K report on April 23, 2009, to announce its financial results for the third fiscal quarter ended March 27, 2009. The report highlights the company's intention to report both GAAP and non-GAAP financial measures, including net income and earnings per share. Western Digital emphasizes that its non-GAAP figures are presented to offer investors a clearer view of operational performance by excluding specific charges.

Key Highlights

  • 1Announcement of Q3 fiscal year 2009 financial results on April 23, 2009.
  • 2WDC plans to report financial metrics on both GAAP and non-GAAP bases.
  • 3Non-GAAP measures are intended to provide a better understanding of operating performance.
  • 4Exclusions from non-GAAP figures include in-process R&D charges from the SiliconSystems, Inc. acquisition.
  • 5Restructuring charges associated with a previously announced restructuring plan are also excluded from non-GAAP results.
  • 6The filing incorporates by reference the press release (Exhibit 99.1) and an Investor Information Summary (Exhibit 99.2) detailing these results.

Frequently Asked Questions

This 8-K filing serves to announce Western Digital Corporation's financial results for the third fiscal quarter ended March 27, 2009. It also provides details on how these results will be presented, including the use of both GAAP and non-GAAP financial measures.

Western Digital's non-GAAP financial results for this quarter exclude in-process research and development charges related to the acquisition of SiliconSystems, Inc., and restructuring charges stemming from a previously announced restructuring plan.

The company believes that presenting non-GAAP measures provides investors with a more useful alternative for assessing operational performance and comparing it to prior periods, as these figures exclude certain non-recurring or extraordinary items.

The detailed financial results are available in the press release (Exhibit 99.1) and the Investor Information Summary (Exhibit 99.2) that are incorporated by reference into this 8-K filing.