western digital corp (WDC) Key Developments
WD Announces Expansion of WD Red Pro Hard Drive Line with Release of 5 TB and 6 TB Capacities
Aug 18 15
WD announced the expansion of its WD Red Pro hard drive line with the release of 5 TB and 6 TB capacities. The WD Red Pro family is ideal for NASware (network attached storage) systems having up to 16 drive bays and serving businesses with more expansive storage needs than the standard WD Red drives. Shipping now, WD Red Pro 5 and 6 TB drives leverage an enhanced design and 128 MB cache to deliver data transfer rates of 214 megabytes per second (MB/s). WD's NAS 3.0 features technology promoting data protection, high NAS performance and reliable integration. Up to 16 Bay Shock Protection Equipped with a multi- axis shock sensor, the drive automatically detects subtle shock events and, along with dynamic fly height technology, adjusts each read-write function to compensate and protect the data, further protecting the drive in large 1- to 16-bay NAS environments. NASware 3.0 Exclusive advanced firmware enables seamless integration, robust data protection and optimal performance for systems operating in the demanding NAS environment. Vibration Protection Hardware vibration compensation technology monitors the drive to correct both linear and rotational vibration in real time, further increasing drive reliability and enabling high performance in higher vibration systems caused from drive to drive vibration as well as from the high speed fans used to cool the larger systems.
Western Digital Corporation Announces Executive Changes
Aug 12 15
Western Digital Corp. announced that Chairman Tom Pardun will retire after 22 years of service on its board of directors, in compliance with the company's mandatory retirement-age policy for directors. Matthew Massengill a former chairman, president and chief executive officer of the company and a director since 2000, has been appointed to succeed Pardun as chairman. Len Lauer chairman and chief executive officer of Memjet and a Western Digital director since 2010, was named lead independent director of the company. The changes will become effective at the company's next annual meeting of shareholders in November 2015. Pardun joined the Western Digital board in 1993. He served two terms as chairman for a total of 10 years and as lead independent director for the six years between his terms as chairman.
Western Digital Corporation Declares Cash Dividend for the Quarter Ending Oct. 2, 2015, Payable on Oct. 15, 2015
Aug 4 15
Western Digital Corporation announced that the board of directors declared a cash dividend for the quarter ending Oct. 2, 2015, of $0.50 per share of common stock. The cash dividend will be paid on Oct. 15, 2015, to the company's stockholders of record as of Oct. 2, 2015.
WD Delivers Ultra HD Movie Content For New Generation Of Samsung TVs
Aug 4 15
WD announced the new My Passport® Cinema 4K Ultra HD (UHD) movie storage device, an easier and faster way to organize, store and enjoy high-definition digital movies and TV shows - including new releases in up to full 4K UHD resolution with high dynamic range (HDR) - on Samsung SUHD TVs and other VIDITY™-enabled devices. The new My Passport Cinema drive utilizes VIDITY technology to allow users to experience movies in crystal-clear, true 4K UHD picture and immersive audio. Users are able to enjoy 8.3 million pixels of stunning entertainment in minutes by simply plugging in the My Passport Cinema drive into a VIDITY-compatible UHD TV or device and purchasing preloaded1 movies from Twentieth Century Fox Home Entertainment. Once purchased on the My Passport Cinema drive, the movie can be accessed immediately online or offline on any VIDITY-enabled device such as Samsung's 2014 HU series 4K UHD TVs and 2015 JU and JS series 4K UHD and SUHD TVs. Users also can download additional titles via M-GO or other VIDITY retailers.
Western Digital Corporation Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended July 3, 2015; Provides Earnings Guidance for the First Quarter Ending September 2015
Jul 29 15
Western Digital Corporation reported unaudited consolidated earnings results for the fourth quarter and year ended July 3, 2015. For the quarter, the company’s revenue, net was $3,191 million against $3,651 million a year ago. Operating income was $255 million against $352 million a year ago. Income before income taxes was $247 million against $347 million a year ago. Net income was $220 million or $0.94 diluted per share against $317 million or $1.32 diluted per share a year ago. Net cash provided by operating activities was $488 million against $713 million a year ago. Purchases of property, plant and equipment was $156 million against $161 million a year ago. Non-GAAP net income was $356 million or $1.51 diluted per share against $445 million or $1.85 diluted per share a year ago.
For the year, the company’s revenue, net was $14,572 million against $15,130 million a year ago. Operating income was $1,611 million against $1,791 million a year ago. Income before income taxes was $1,577 million against $1,752 million a year ago. Net income was $1,465 million or $6.18 diluted per share against $1,617 million or $6.68 diluted per share a year ago. Net cash provided by operating activities was $2,242 million against $2,816 million a year ago. Purchases of property, plant and equipment was $612 million against $628 million a year ago. Non-GAAP net income was $1,840 million or $7.76 diluted per share against $1,961 million or $8.10 diluted per share a year ago.
For the September quarter 2015, the company expects revenue to be in the range of $3.2 billion to $3.3 billion. Excluding the amortization of intangibles, the company expects gross margin percentage to be roughly flat, with June quarter operating expenses of approximately $575 million, and accordingly, the company estimates non-GAAP earnings per share between $1.50 and $1.60.