Western Digital Announces Q3 FY2014 Revenue Of $3.7 Billion
 

Western Digital Corp. today reported revenue of $3.7 billion and net income of $375 million, or $1.55 per share for its third fiscal quarter ended Mar. 28, 2014. On a non-GAAP basis, net income was $470 million or $1.94 per share.1 In the year-ago quarter, the company reported revenue of $3.8 billion, net income of $391 million, or $1.60 per share. Non-GAAP net income in the year-ago quarter was $514 million, or $2.10 per share.2

The company generated $697 million in cash from operations during the March quarter. During the quarter, the company utilized $244 million to buy back 2.8 million shares of common stock. It ended the quarter with total cash, cash equivalents and investments of $5.0 billion. On Feb. 6, the company declared a $0.30 per common-share dividend, which was paid on Apr. 15.

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