Summary
Western Digital Corporation (WDC) filed an 8-K on April 24, 2013, to report its financial results for the third fiscal quarter ended March 29, 2013. The filing highlights the company's net income and earnings per share on both GAAP and non-GAAP bases. Notably, the non-GAAP figures exclude specific items such as amortization of intangibles related to the HGST acquisition and certain employee termination benefits. Management believes these non-GAAP metrics offer a more insightful view of ongoing operational performance and facilitate better comparisons with prior periods.
Key Highlights
- 1WDC announced financial results for its third fiscal quarter ended March 29, 2013, via an 8-K filing.
- 2The report includes both GAAP and non-GAAP financial metrics, specifically net income and earnings per share.
- 3Non-GAAP results exclude amortization of intangibles from the HGST acquisition.
- 4Non-GAAP results also exclude certain employee termination benefits and other unrelated charges.
- 5Management views non-GAAP measures as useful for assessing ongoing operational performance and historical comparisons.
- 6The press release and quarterly fact sheet for Q3 FY2013 are attached as exhibits.
- 7This information is furnished and not deemed 'filed' under Section 18 of the Exchange Act.
Frequently Asked Questions
The primary purpose of this 8-K filing is to announce and provide Western Digital Corporation's financial results for the third fiscal quarter ended March 29, 2013, along with associated details.
Western Digital reports non-GAAP financial results to provide investors with an alternative view of its operating performance. Management believes these figures, which exclude items like HGST acquisition-related amortization and certain employee termination benefits, are more indicative of the company's ongoing operations and useful for comparative analysis.
The key items excluded from WDC's non-GAAP financial measures in this report are amortization of intangibles related to the HGST acquisition, and certain employee termination benefits and other unrelated charges.
No, in accordance with General Instruction B.2 of Form 8-K, the financial information and exhibits (Press Release and Quarterly Fact Sheet) provided in this Item 2.02 are furnished and are not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934, nor are they incorporated by reference into other SEC filings unless specifically stated.