Western Digital have announced its financial results for the first quarter of fiscal year 2015, which ended on October 3rd, 2014, with revenue of US $3.9 billion and net income of US $423 million, or US $1.76 per share.


While it did report a higher revenue, compared to US $3.8 billion in the same quarter last year, it also had a lower net income compared to the Q1 FY14 and lower EPS of US $2.05 per share. On the other hand, the company did much better compared to the previous Q4FY2014 quarter where it reported US $3.6 billion revenue, net income of US $317 million and EPS of US $1.32 per share.

According to Western Digital's president and chief executive officer, Steve Milligan, the company has achieved sold revenue, gross margins and EPS in the September quarter, and has continued its crisp execution and consistent financial performance. He also added that the company is pleased with strength and momentum with enterprise hard drives and flash platform solutions businesses.

According to Western Digital, client and branded products businesses are strong while enterprise business was steady. Milligan also added that they believe that industry dynamics are stable in terms of supply, demand and inventory levels.

Western Digital also predicts a slight drop in revenue in the Q2 FY2015 with total operating expenses of US $600 million.



Source: WDC.com.