8-KEarnings & ResultsExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Financial Results (Oct 19, 2011)

Filed October 19, 2011For Securities:WDC

Summary

This 8-K filing from Western Digital Corporation (WDC) on October 19, 2011, reports the company's financial results for the first fiscal quarter ended September 30, 2011. Investors are provided with both GAAP and non-GAAP earnings per share figures, offering a view that excludes expenses related to the proposed acquisition of Hitachi Global Storage Technologies and unrelated litigation accruals. Management believes these non-GAAP measures are valuable for investors to assess ongoing operational performance and make comparisons with prior periods, as these excluded items are not considered indicative of the company's core business activities. The filing incorporates by reference the press release and investor information summary detailing these results.

Key Highlights

  • 1Western Digital announced its financial results for the first fiscal quarter ending September 30, 2011.
  • 2The company reported both GAAP and non-GAAP net income and earnings per share (EPS).
  • 3Non-GAAP financial results exclude expenses related to the proposed acquisition of Hitachi Global Storage Technologies (HGST).
  • 4Non-GAAP results also exclude unrelated litigation accruals.
  • 5Management views non-GAAP measures as useful for investors to evaluate ongoing operational performance.
  • 6The press release and an Investor Information Summary containing the results are attached as exhibits.
  • 7The information provided under Item 2.02 is not considered 'filed' for certain SEC purposes, thus not subject to Section 18 liabilities or automatically incorporated into other filings unless explicitly stated.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce Western Digital Corporation's financial results for the first fiscal quarter ended September 30, 2011. It includes the official release of these results and an investor information summary.

The non-GAAP financial results exclude expenses related to Western Digital's proposed acquisition of Hitachi Global Storage Technologies (HGST) and unrelated litigation accruals. These are considered by management to be items not indicative of ongoing operations.

Western Digital provides non-GAAP financial information because management believes these measures offer investors a useful alternative perspective on the company's operating performance and allow for better comparisons against historical performance, by excluding certain unusual or non-recurring expenses.

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