8-KRegulation FDExhibits & Filings

WESTERN DIGITAL CORP 8-K Report, Regulation FD Disclosure (Oct 20, 2011)

Filed October 20, 2011For Securities:WDC

Summary

Western Digital Corporation (WDC) filed an 8-K on October 19, 2011, to disclose information discussed during an investment community conference call held the same day. The primary focus of the call was the significant impact of the flooding in Thailand on the Company's business and operations, as well as its financial results for the first fiscal quarter ended September 30, 2011. Management also provided an outlook for the second fiscal quarter ending December 30, 2011. Key concerns for investors would be the operational disruptions caused by the flooding, the expected recovery efforts and associated costs, and the potential impact on WDC's HDD capacity and future financial performance. The filing also touches upon the progress and outlook for the planned acquisition of Hitachi GST, and potential growth opportunities within the industry. Investors should pay close attention to the forward-looking statements and associated risks, particularly those related to the flooding and the integration of Hitachi GST.

Key Highlights

  • 1The 8-K was filed to provide details from an investment community conference call held on October 19, 2011.
  • 2The call primarily addressed the significant impact of the flooding in Thailand on Western Digital's business and operations.
  • 3The company discussed its financial results for the first fiscal quarter ended September 30, 2011.
  • 4An outlook for the second fiscal quarter ending December 30, 2011, was provided.
  • 5The filing notes that information provided is furnished and not deemed 'filed' for purposes of Section 18 of the Exchange Act.
  • 6Exhibit 99.1, the script for the earnings conference call, contains detailed forward-looking statements regarding industry demand, operational recovery from flooding, the Hitachi GST acquisition, and financial expectations.
  • 7The company highlighted risks and uncertainties, including those related to the flooding in Thailand and the pending acquisition of Hitachi GST.

Frequently Asked Questions

The 8-K filing was to furnish the script of an investment community conference call held on October 19, 2011. This call focused on the company's first fiscal quarter financial results, the critical impact of the flooding in Thailand on its operations, and its financial outlook for the second fiscal quarter.

The flooding in Thailand had a significant impact on Western Digital's business and operations. The conference call script, furnished with the 8-K, discussed the disruption to HDD capacity, planned recovery efforts, and associated costs. This event was a major point of discussion for investors due to its potential to affect production and financial results.

Exhibit 99.1 is the script for the earnings conference call. It contains forward-looking statements detailing unconstrained industry demand, the impact of the Thailand floods on the company's capacity and recovery plans, the status and timing of the Hitachi GST acquisition, growth opportunities, and specific financial expectations for the December quarter, including revenue, margins, expenses, and earnings per share.

The "Safe Harbor" statement is crucial for investors as it outlines the forward-looking nature of certain statements made by the company. It warns that actual results could differ materially from those expressed or implied in these statements due to various risks and uncertainties, such as global economic conditions, supply chain issues, the extent of flood damage, recovery timelines, the Hitachi GST acquisition process, competitive pressures, and technological advancements. It also states that the company has no obligation to update these forward-looking statements.