8-KEarnings & ResultsExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Financial Results (Apr 20, 2011)

Filed April 20, 2011For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K on April 20, 2011, to report its financial results for the third fiscal quarter ended April 1, 2011. The filing primarily serves to provide investors with the company's performance for the quarter, including both GAAP and non-GAAP financial measures. Notably, the non-GAAP figures exclude acquisition expenses related to the planned acquisition of Hitachi Global Storage Technologies, which the company believes offers a clearer view of ongoing operational performance for comparative analysis. Investors should pay close attention to the disclosed earnings per share and net income, as well as the reconciliation between GAAP and non-GAAP results. The exclusion of acquisition-related costs is a key consideration for understanding the company's core business profitability during this period. The press release and investor information summary, attached as exhibits, contain the detailed financial data and management's commentary on the quarter's results.

Key Highlights

  • 1Western Digital announced its third fiscal quarter financial results for the period ending April 1, 2011.
  • 2The company reported both GAAP and non-GAAP financial results, providing investors with multiple perspectives on performance.
  • 3Non-GAAP financial measures exclude acquisition expenses related to the planned acquisition of Hitachi Global Storage Technologies.
  • 4Management believes these non-GAAP measures are useful for investors to assess ongoing operational performance and compare against prior periods.
  • 5The filing incorporates by reference a press release (Exhibit 99.1) and an Investor Information Summary (Exhibit 99.2) containing detailed financial data.
  • 6The information provided is for informational purposes and is not considered 'filed' for Section 18 liability purposes.
  • 7The primary purpose of the 8-K is to provide timely disclosure of quarterly financial results.

Frequently Asked Questions

The main purpose of this 8-K filing is to report Western Digital Corporation's financial results for its third fiscal quarter ended April 1, 2011, and to provide investors with access to the detailed financial information through attached press releases and summaries.

Western Digital provides non-GAAP results to exclude certain expenses, specifically acquisition expenses related to the Hitachi Global Storage Technologies acquisition. The company believes these non-GAAP measures are useful for investors as they are not indicative of ongoing operations and allow for better comparison against prior periods' performance.

Investors should examine the net income and earnings per share (both GAAP and non-GAAP) to understand the company's profitability. Additionally, reviewing the reconciliation between GAAP and non-GAAP figures will provide clarity on the impact of the excluded acquisition expenses.

While the acquisition of Hitachi Global Storage Technologies is mentioned as a reason for excluding certain expenses in the non-GAAP measures, this 8-K filing primarily focuses on reporting the quarterly financial results. Specific details and updates on the acquisition itself would likely be found in separate filings or press releases related to that transaction.