Western Digital

Fremont, CA, United States

Western Digital

Fremont, CA, United States

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San Jose, California headquartered Brocade Communications Systems Inc.'s shares rose 0.08%, finishing Monday's trading session at $12.64. A total volume of 2.03 million shares was traded. In the last month and the previous three months, the stock has advanced 0.64% and 2.27%, respectively. Additionally, the Company's shares have gained 1.20% since the start of this year. The stock is trading above its 50-day and 200-day moving averages by 0.93% and 10.37%, respectively. Moreover, shares of Brocade Communications Systems, which provides storage area networking and Internet protocol networking solutions for businesses and organizations worldwide, have a Relative Strength Index (RSI) of 59.41. On May 08th, 2017, the Company announced that its Gen 6 Fibre Channel technologies provide the network foundation that enables customers of Dell EMC® all-flash array solutions to optimize the performance, availability, and reliability of their storage deployments. Dell EMC introduced the VMAX 950F, representing significant updates to its flagship VMAX enterprise storage platform. It also announced XtremIO X2, the second generation of its market-leading, purpose-built, all-flash array. Free research report on BRCD is available at: On Monday, shares in Dublin, Ireland headquartered Seagate Technology PLC recorded a trading volume of 2.51 million shares, and ended the session 0.61% higher at $42.77. The stock has gained 12.05% on an YTD basis. The Company's shares are trading 6.29% above their 200-day moving average. Furthermore, shares of Seagate Technology, which designs, produces, and distributes electronic data storage technology and solutions in Singapore, the US, the Netherlands, and internationally, have an RSI of 43.85. On April 26th, 2017, Seagate Technology reported financial results for Q3 FY17 ended March 31st, 2017. For Q3 2017, the Company reported revenue of $2.7 billion, gross margin of 30.5%, net income of $194 million, and diluted earnings per share (EPS) of $0.65. On a non-GAAP basis, which excludes the net impact of certain items, the Company reported gross margin of 31.4%, net income of $329 million, and diluted EPS of $1.10. On April 27th, 2017, research firm RBC Capital Markets reiterated its 'Sector Perform' rating on the Company's stock with a decrease of the target price from $50 a share to $45 a share. The complimentary research report on STX can be downloaded at: Shares in Irvine, California headquartered Western Digital Corp. closed at $87.98, up 1.52% from the last trading session. The stock recorded a trading volume of 3.24 million shares. The Company's shares have gained 5.86% in the last one month, 17.46% over the previous three months, and 29.48% since the start of this year. The stock is trading 5.35% and 30.03% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Western Digital, which together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide, have an RSI of 56.30. On May 01st, 2017, research firm Jefferies downgraded the Company's stock rating from 'Buy' to 'Hold'. On May 18th, 2017, Western Digital announced that it will participate in the 45th Annual J.P. Morgan Global Technology, Media and Telecom Conference on Tuesday, May 23rd, 2017 at 10:40 a.m. ET. The live presentation will be available via webcast on the Company's Investor Relations home page. Visit us today and access our complete research report on WDC at: Sunnyvale, California headquartered NetApp Inc.'s stock ended 1.14% higher at $39.98. A total volume of 4.24 million shares was traded, which was above their three months average volume of 2.82 million shares. The Company's shares have advanced 1.24% in the last one month and 13.35% on an YTD basis. The stock is trading above its 200-day moving average by 8.32%. Furthermore, shares of NetApp, which provides software, systems, and services to manage and store computer data worldwide, have an RSI of 47.41. On May 09th, 2017, NetApp announced that it will report financial results for Q4 FY17, which ended April 28th, 2017, after market close on May 24th, 2017. The executive management will host a conference call at 2:30 p.m. PT on that same day to discuss these results and provide their perspective on market dynamics. Get free access to your research report on NTAP at: Stock Callers (SC) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and micro-cap stocks. SC has two distinct and independent departments. 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Alliance Convenes Today at Verizon's Headquarters in Basking Ridge, New Jersey for Quarterly Member Meeting FREMONT, CA--(Marketwired - May 25, 2017) - The Streaming Video Alliance (the Alliance), an industry forum comprised of leading companies from the online video ecosystem, hosts their second Quarterly Meeting of 2017 at Verizon's headquarters in New Jersey. During this meeting, the Alliance will work to ratify two new specifications from the Open Caching Working Group, solicit new participants for additional phases of its Multicast ABR proof-of-concept, and welcome several new members. "Verizon is proud to host the Streaming Video Alliance's second quarter meeting," said Mike Altland, Director of Network Infrastructure Planning at Verizon. "We are strong supporters in what the Alliance is working to accomplish within the industry and believe that Verizon can play a key role in helping define the specifications and best practices that the Alliance has brought, and will continue to bring, to the industry." Multicast ABR Proof of Concept In April of this year, the Alliance announced a Multicast ABR POC. This POC is intended to address 4K streaming to OTT devices over a closed Multicast network (Cable, IPTV). The first phase of the POC has been concluded and data from the results is being analyzed. The Alliance will produce a whitepaper detailing the results as well as some additional best practices organizations can take when building out a similar architecture that will be published later this year. To receive email updates on the publication of this whitepaper, you can sign-up by visiting this URL: https://www.streamingvideoalliance.org/go/mabrupdate/ "The Alliance is committed to not only producing specifications and requirements, but to demonstrating those in action," said Jason Thibeault, Executive Director. "This Multicast ABR POC is a prime example of the Alliance working to solve critical industry challenges. Not only did the participating companies demonstrate working operation, but the results are being used to develop documentation that any service provider can employ to deliver a better end user experience with streaming video into the home." Open Caching Working Group Continues to Produce Critical Specifications The Open Caching Working Group has created two new specifications, Logging and Service Provisioning, that are currently being voted on by the Alliance membership and should be ratified by the board within the next 30 days. "With these two new specifications that are up for ratification, the Open Caching Working Group is pushing closer to providing the industry a comprehensive architecture for next-generation streaming services," said Dan Sahar, Open Caching Working Group Chair and Co-Founder of Qwilt. "In addition to the documentation, we are currently driving towards the second phase of the Open Caching proof-of-concept which we hope will involve more organizations looking to test out the specifications with real-world traffic and networks." New Alliance Members The Alliance continues to grow and prosper. Over the past five months, we have added 12 new members and now total 51 member companies, over 200% growth since the organization's inception just a few years ago. The Alliance is pleased to welcome the following companies: The Alliance frequently participates in speaking engagements and sponsors industry shows to build awareness for the organization. The Alliance's Executive Director, Jason Thibeault, recently participated on a panel at NAB, was interviewed in the NAB M.E.T. 360 theater, and moderated a panel at Content Delivery Summit, Live Streaming Summit, and Streaming Media East. Future shows in which the Alliance will participate as sponsor and speaker include the OTT Executive Summit, TV of Tomorrow, Capacity North America, IBC, and NAB NY. Members of the Alliance include companies from across the streaming video ecosystem such as network operators, technology providers, service providers, and content owners. Current members are: Adobe, Arris, ATEME, Cedexis, CenturyLink, Charter Communications, Ciena, Cisco Systems, Comcast, Concurrent, Conviva, Dolby, Edgeware, Encompass TV, Ericsson, FOX Networks, Harmonic, Hughes Satellite Systems, IBM, IneoQuest, Intel, Interra Systems, Irdeto, Level 3 Communications, Liberty Global, Limelight Networks, Massive Interactive, MediaMelon, MLBAM, Mobolize, NBCUniversal, NCTA, NeuLion, Nexguard, Nice People at Work, Nokia, OWNZONES, Qwilt, Sinclair Broadcast Group, Sky, System73, Telecom Italia, THX, Verimatrix, Verizon, ViaPlay, ViaSat Inc., Vubiquity, Western Digital Corp., Wowza Media Systems, and Yahoo. For more information on the Alliance, the Working Groups, or to inquire about becoming a member, visit www.streamingvideoalliance.org. About the Streaming Video Alliance Founded in 2014, the Streaming Video Alliance's charter is to encourage deeper collaboration across the entire online video ecosystem, which will include the development of standards and best practices for an open architecture that will operate across the entire online video value chain. The Alliance is currently focused on identifying issues and solutions related to open architecture, quality of experience, and interoperability. For more information, please visit www.streamingvideoalliance.org.


News Article | May 24, 2017
Site: www.forbes.com

Huge public companies still prospered this past year despite wild swings between market uncertainty and volatility, punctuated by unexpected political outcomes. The 2017 Global 2000 is bigger and more valuable in the aggregate than last year's list, with higher sales, profits, assets and market values. The list as a whole is significantly more valuable from the year prior, with aggregate market capitalization up 10%. Here's how we crunched the numbers. Despite slowing GDP figures, China and the U.S., whose companies make up more than 40% of the list, continue to dominate the top 10 list with financial giants including #1 Industrial and Commercial Bank of China (ICBC) and #4 JPMorgan Chase. China’s two-year stronghold of the top 3 spots was disrupted this year with Warren Buffett’s Berkshire Hathaway snagging the third spot, another signal that U.S. companies didn’t suffer terribly from market uncertainty that defined the year, as Berkshire owns many other American staple stocks. The FORBES Global 2000 ranking is based on a composite score from equally-weighted measures of revenue, profits, assets and market value. The 2017 list features public companies from 58 countries that together account for $35.3 trillion in revenue, $2.5 trillion in profit, $169.1 trillion of assets, and have a combined market value of $48.8 trillion. All four metrics are up from the 2016 ranking, with market capitalization up 10% from last year. Despite a slowing of the global IPO market, several newly-public companies debuted on this year's list.  The biggest newcomer at No. 55 is Postal Savings Bank of China. The September 2016 IPO was the year’s largest, worth $8.1 billion. In the U.S., the most high-profile company to enter the list was Snap Inc. The company’s $24 billion market cap helped earn a spot at No. 1693. U.S. companies account for the most members of the list, 565, followed by China and Hong Kong, which is home to 263 Global 2000 companies. The world’s biggest companies have gotten bigger, more profitable and more valuable in the past year. 58 countries were represented, down from last year's 62 with Cyprus, Kazakhstan, Romania and Malta no longer boasting companies on the list. It wasn’t a good year for energy companies that fought against rock-bottom petroleum prices. Exxon Mobil fell 4 spots to #13, PetroChina fell off the top 10 to #102, and Chevron slipped to#359 from last year's #28 position. One big gainer this year is Charter Communications (#107), which climbed 677 spots by buying Time Warner, #214 last year,  knocking it off the list. General Electric climbed 54 spots to #13 and #83 Amazon broke into the top 100 from its previous rank of #237. Alibaba also moved up the list to #140. Some major names absent from the list were either acquired by another company or performed poorly and ranked under the #2000 position. Notable drop-offs include SABMiller, which was acquired by #126 Anheuser-Busch InBev. Western Digital bought #1266 SanDisk and Marriot acquired Starwood Hotels & Resorts which was #1214 last year. Chipotle, which suffered a terrible stock price after their food poisoned customers, also fell off the list. Casino giant Caesars Entertainment Corporation, #1198 last year, got knocked off too. For more coverage of the FORBES Global 2000 ranking of the world’s largest public companies, see below: Global 2000: The Largest Companies In China In 2017 2017 Global 2000: These Are The Largest Companies In Russia Here's How Much Of Russia's Biggest Banks And Drillers The Kremlin Owns World's Largest Retailers 2017: Amazon & Alibaba Are Closing In On Wal-Mart World's Largest Food And Beverage Companies 2017: Nestle, Pepsi And Coca-Cola Dominate The Field


News Article | May 29, 2017
Site: www.reuters.com

TOKYO (Reuters) - Western Digital Corp may join a consortium of Japanese government money and KKR & Co LP to bid for Toshiba Corp's chip unit, backing away from an earlier demand for an immediate majority stake, two sources familiar with the matter said.


News Article | April 7, 2017
Site: www.techtimes.com

Looking for high-quality portable SSDs is quite a challenge, especially with differing prices on the market. Luckily, lauded brand Western Digital has run up to the SSD trend. Western Digital just announced its first portable SSD storage called "My Passport SSD," available in three storage configurations, complete with a USB-C port which replaces the USB 3.0 Micro B port of yesteryear. The My Passport SSD is tiny, almost palm-sized. It's also currently the fastest My Passport drive from Western Digital's lineup of storage devices, offering users the ability to move files at 515 MB/s. This is the first time for Western Digital to actually release a portable SSD drive, since the company is mostly recognized for its inexpensive solutions for HDD backups. As you can see, the My Passport SSD borrows the look of the recently redesigned My Passport drives, obviously shrunken down because of the absence of a magnetic drive. The move to finally release its own portable SSD is wise — and also unsurprising. The company acquired SanDisk last year to make inroads in the SSD department, which is something it's already doing with its internal SSDs. Its new My Passport SSD also signals its willingness to compete with Seagate and LaCie in the increasingly emerging market of SSDs, especially with the latter two companies already offering their own SSDs. But instead of just releasing a run-of-the-mill portable SSD, Western Digital was meticulous enough to also jump into the USB Type-C trend, which is slowly replacing previous-gen ports. But the company isn't leaving out those who don't have USB Type-C laptops: it's throwing in a USB Type-A adaptor in the box for anyone who might need it. "My Passport SSD is the perfect storage solution to rapidly manage large photo and video libraries, quickly back up files and important documents, run virtual machines from, or expand your SSD-laptop storage anywhere you take your computer," said Western Digital in an announcement. Western Digital's My Passport SSD, as previously mentioned, will come in three storage configurations: 256 GB, 512 GB, and 1 TB. Like all SSDs, however, don't expect these to come cheap. The lowest storage size will cost $99.99; 512 GB will cost $199.99; and 1 TB will cost $399.99. These are pretty fair prices considering other, more steep offers out there, but they're still pretty high, although this is mostly because SSDs are far more expensive the HDDs at present. By contrast, a My Passport 2 TB hard drive is just $79.99, much lower than the lowest My Passport SSD storage option. The drives are protected by 256-bit AES hardware encryption and password protection, and users will get a three-year warranty period for every purchase. The drives are shock resistant up to 1500 G of force and can withstand a 6.5 foot drop. They will be available "this quarter," according to the company. Thoughts about Western Digital's My Passport SSD? Feel free to sound off in the comments section below! © 2017 Tech Times, All rights reserved. Do not reproduce without permission.


Global Network Attached Storage (NAS) market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including Request a Sample Report @ https://www.wiseguyreports.com/sample-request/1223652-global-network-attached-storage-nas-market-research-report-2017 Geographically, this report is segmented into several key Regions, with production, consumption, revenue (million USD), market share and growth rate of Network Attached Storage (NAS) in these regions, from 2012 to 2022 (forecast), covering United States EU China Japan South Korea Taiwan On the basis of product, this report displays the production, revenue, price, market share and growth rate of each type, primarily split into Computer Based NAS Embedded System Based NAS ASIC Based NAS On the basis on the end users/applications, this report focuses on the status and outlook for major applications/end users, consumption (sales), market share and growth rate of Network Attached Storage (NAS) for each application, including Residential Commercial Industrial Global Network Attached Storage (NAS) Market Research Report 2017 1 Network Attached Storage (NAS) Market Overview 1.1 Product Overview and Scope of Network Attached Storage (NAS) 1.2 Network Attached Storage (NAS) Segment by Type (Product Category) 1.2.1 Global Network Attached Storage (NAS) Production and CAGR (%) Comparison by Type (Product Category) (2012-2022) 1.2.2 Global Network Attached Storage (NAS) Production Market Share by Type (Product Category) in 2016 1.2.3 Computer Based NAS 1.2.4 Embedded System Based NAS 1.2.5 ASIC Based NAS 1.3 Global Network Attached Storage (NAS) Segment by Application 1.3.1 Network Attached Storage (NAS) Consumption (Sales) Comparison by Application (2012-2022) 1.3.2 Residential 1.3.3 Commercial 1.3.4 Industrial 1.4 Global Network Attached Storage (NAS) Market by Region (2012-2022) 1.4.1 Global Network Attached Storage (NAS) Market Size (Value) and CAGR (%) Comparison by Region (2012-2022) 1.4.2 United States Status and Prospect (2012-2022) 1.4.3 EU Status and Prospect (2012-2022) 1.4.4 China Status and Prospect (2012-2022) 1.4.5 Japan Status and Prospect (2012-2022) 1.4.6 South Korea Status and Prospect (2012-2022) 1.4.7 Taiwan Status and Prospect (2012-2022) 1.5 Global Market Size (Value) of Network Attached Storage (NAS) (2012-2022) 1.5.1 Global Network Attached Storage (NAS) Revenue Status and Outlook (2012-2022) 1.5.2 Global Network Attached Storage (NAS) Capacity, Production Status and Outlook (2012-2022) 7 Global Network Attached Storage (NAS) Manufacturers Profiles/Analysis 7.1 Dell 7.1.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.1.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.1.2.1 Product A 7.1.2.2 Product B 7.1.3 Dell Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.1.4 Main Business/Business Overview 7.2 Synology 7.2.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.2.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.2.2.1 Product A 7.2.2.2 Product B 7.2.3 Synology Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.2.4 Main Business/Business Overview 7.3 Lenovo 7.3.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.3.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.3.2.1 Product A 7.3.2.2 Product B 7.3.3 Lenovo Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.3.4 Main Business/Business Overview 7.4 Net App 7.4.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.4.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.4.2.1 Product A 7.4.2.2 Product B 7.4.3 Net App Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.4.4 Main Business/Business Overview 7.5 Western Digital (WD) 7.5.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.5.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.5.2.1 Product A 7.5.2.2 Product B 7.5.3 Western Digital (WD) Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.5.4 Main Business/Business Overview 7.6 Buffalo Tech 7.6.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.6.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.6.2.1 Product A 7.6.2.2 Product B 7.6.3 Buffalo Tech Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.6.4 Main Business/Business Overview 7.7 Netgear 7.7.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.7.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.7.2.1 Product A 7.7.2.2 Product B 7.7.3 Netgear Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.7.4 Main Business/Business Overview 7.8 QNAP 7.8.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.8.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.8.2.1 Product A 7.8.2.2 Product B 7.8.3 QNAP Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.8.4 Main Business/Business Overview 7.9 Seagate 7.9.1 Company Basic Information, Manufacturing Base, Sales Area and Its Competitors 7.9.2 Network Attached Storage (NAS) Product Category, Application and Specification 7.9.2.1 Product A 7.9.2.2 Product B 7.9.3 Seagate Network Attached Storage (NAS) Capacity, Production, Revenue, Price and Gross Margin (2012-2017) 7.9.4 Main Business/Business Overview For more information, please visit https://www.wiseguyreports.com/sample-request/1223652-global-network-attached-storage-nas-market-research-report-2017


News Article | April 27, 2017
Site: www.businesswire.com

SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corp. (NASDAQ: WDC) today reported revenue of $4.6 billion, operating income of $525 million and net income of $248 million, or $0.83 per share, for its third fiscal quarter ended March 31, 2017. The GAAP net income for the period includes charges associated with the company’s recent acquisitions. Excluding these charges and after other non-GAAP adjustments, third quarter non-GAAP operating income was $1.0 billion and non-GAAP net income was $716 million, or $2.39 per share. In the year-ago quarter, the company reported revenue of $2.8 billion, operating income of $88 million and net income of $74 million, or $0.32 per share. Non-GAAP operating income in the year-ago quarter was $347 million and non-GAAP net income was $317 million, or $1.35 per share. The company generated $1.0 billion in cash from operations during the third fiscal quarter of 2017, ending with $5.8 billion of total cash, cash equivalents and available-for-sale securities. On Feb. 1, 2017, the company declared a cash dividend of $0.50 per share of its common stock, which was paid to shareholders on April 17, 2017. “We reported strong financial performance in the March quarter, enabled by excellent operational execution by our team in a healthy market environment with good demand for all NAND based products, as well as for capacity enterprise and client hard drives,” said Steve Milligan, chief executive officer. “We also achieved targeted cost and efficiency improvements and improved our liquidity position with strong cash flow generation. “With three consecutive quarters of strong financial results since completing the SanDisk acquisition, we are seeing continued validation of our growth strategy and our ongoing transformation into a comprehensive provider of diversified storage products and technologies. We have constructed a powerful platform with the broadest set of products, enabling us to be a leader in the storage industry. Our transformation provides us with the opportunity to not only compete in today’s marketplace but also to be positioned to grow and thrive into the future.” The investment community conference call to discuss these results and the company’s guidance for the fourth fiscal quarter 2017 will be broadcast live over the Internet today at 2:30 p.m. Pacific/5:30 p.m. Eastern. The live and archived conference call/webcast can be accessed online at investor.wdc.com. Supplemental financial information, including the company’s guidance for the fourth fiscal quarter 2017, will also be posted on the same website. The telephone replay number in the U.S. is 1(855)859-2056 or +1(404)537-3406 for international callers. The required passcode is 94428076. Western Digital is an industry-leading provider of storage technologies and solutions that enable people to create, leverage, experience and preserve data. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with customer-focused innovation, high efficiency, flexibility and speed. Our products are marketed under the HGST, SanDisk and WD brands to OEMs, distributors, resellers, cloud infrastructure providers and consumers. Financial and investor information is available on the company's Investor Relations website at investor.wdc.com. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning the company’s preliminary financial results for its third fiscal quarter ended March 31, 2017; market and demand trends; achievement of synergy goals associated with our acquisitions; our product portfolio and market position; and our growth strategy. These forward-looking statements are based on management’s current expectations and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. The preliminary financial results for the company’s third fiscal quarter ended March 31, 2017 included in this press release represent the most current information available to management. The company’s actual results when disclosed in its quarterly report on Form 10-Q may differ from these preliminary results as a result of the completion of the company’s financial closing procedures; final adjustments; completion of the review by the company’s independent registered accounting firm and other developments that may arise between now and the disclosure of the final results. Other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements include: uncertainties with respect to the company’s business ventures with Toshiba; volatility in global economic conditions; business conditions and growth in the storage ecosystem; impact of competitive products and pricing; market acceptance and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; our development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with acquisitions, mergers and joint ventures; difficulties or delays in manufacturing; and other risks and uncertainties listed in the company’s filings with the Securities and Exchange Commission (the “SEC”), including the company’s Form 10-Q filed with the SEC on Feb. 7, 2017, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect new information or events. Western Digital, WD and SanDisk are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the U.S. and/or other countries. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. © 2017 Western Digital Corporation or its affiliates. All rights reserved. To supplement the condensed consolidated financial statements presented in accordance with U.S. generally accepted accounting principles (“GAAP”), the table above sets forth non-GAAP cost of revenue; non-GAAP gross profit; non-GAAP operating expenses; non-GAAP operating income; non-GAAP interest and other expense, net; non-GAAP income tax expense; non-GAAP net income and non-GAAP diluted net income per common share (“Non-GAAP measures”). These Non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with GAAP and may be different from Non-GAAP measures used by other companies. Western Digital Corporation believes the presentation of these Non-GAAP measures, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors for measuring the Company’s earnings performance and comparing it against prior periods. Specifically, we believe these Non-GAAP measures provide useful information to both management and investors as they exclude certain expenses, gains and losses that we believe are not indicative of our core operating results or because they are consistent with the financial models and estimates published by many analysts who follow us and our peers. As discussed further below, these Non-GAAP measures exclude the amortization of acquired intangible assets, stock-based compensation expense, employee termination, asset impairment and other charges, acquisition-related charges, charges related to arbitration award, charges related to cost saving initiatives, convertible debt activity, debt extinguishment costs, other charges, and income tax adjustments, and we believe these measures along with the related reconciliations to the GAAP measures provide additional detail and comparability for assessing our results. These Non-GAAP measures are some of the primary indicators management uses for assessing our performance and planning and forecasting future periods. These measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. As described above, we exclude the following items from our Non-GAAP measures: Amortization of acquired intangible assets. We incur expenses from the amortization of acquired intangible assets over their economic lives. Such charges are significantly impacted by the timing and magnitude of our acquisitions and any related impairment charges. Stock-based compensation expense. Because of the variety of equity awards used by companies, the varying methodologies for determining stock-based compensation expense, the subjective assumptions involved in those determinations, and the volatility in valuations that can be driven by market conditions outside our control, we believe excluding stock-based compensation expense enhances the ability of management and investors to understand and assess the underlying performance of our business over time and compare it against our peers, a majority of whom also exclude stock-based compensation expense from their non-GAAP results. Employee termination, asset impairment and other charges. From time-to-time, in order to realign our operations with anticipated market demand or to achieve cost synergies from the integration of acquisitions, we may terminate employees and/or restructure our operations. From time-to-time, we may also incur charges from the impairment of intangible assets and other long-lived assets. These charges (including any reversals of charges recorded in prior periods) are inconsistent in amount and frequency and are not indicative of the underlying performance of our business. Acquisition-related charges. In connection with our business combinations, we incur expenses which we would not have otherwise incurred as part of our business operations. These expenses include third-party professional service and legal fees, third-party integration services, severance costs, non-cash adjustments to the fair value of acquired inventory, contract termination costs, and retention bonuses. We may also experience other accounting impacts in connection with these transactions. These charges and impacts are related to acquisitions, are inconsistent in amount and frequency, and are not indicative of the underlying performance of our business. Charges related to arbitration award. In relation to an arbitration award for claims brought against the Company by Seagate Technology LLC, which was satisfied in October 2014, and the related dispute over the calculation of post-award interest, we have recorded loss contingencies. The resulting expense is inconsistent in amount and frequency. Charges related to cost saving initiatives. In connection with the transformation of our business, we have incurred charges related to cost saving initiatives which do not qualify for special accounting treatment as exit or disposal activities. These charges, which are not indicative of the underlying performance of our business, primarily relate to costs associated with rationalizing our channel partners or vendors, transforming our information systems infrastructure, integrating our product roadmap, and accelerated depreciation on assets. Convertible debt activity, net. We exclude non-cash economic interest expense associated with the convertible senior notes, the gains and losses on the conversion of the convertible senior notes and call option, and unrealized gains and losses related to the change in fair value of the exercise option and call option. These charges and gains and losses do not reflect our cash operating results and are not indicative of the underlying performance of our business. Debt extinguishment costs. From time-to-time, we replace our existing debt with new financing at more favorable interest rates or utilize available capital to settle debt early, both of which generate interest savings in future periods. We incur debt extinguishment charges consisting of the costs to call the existing debt and/or the write-off of any related unamortized debt issuance costs. These gains and losses related to our debt activity occur infrequently and are not indicative of the underlying performance of our business. Other charges. From time-to-time, we sell or impair investments or other assets which are not considered necessary to our business operations; are a party to legal or arbitration proceedings, which could result in an expense or benefit due to settlements, final judgments, or accruals for loss contingencies; or incur other charges or gains which are not a part of the ongoing operation of our business. The resulting expense or benefit is inconsistent in amount and frequency. Income tax adjustments. Income tax adjustments reflect the difference between income taxes based on a forecasted annual non-GAAP tax rate and a forecasted annual GAAP tax rate as a result of the timing of certain non-GAAP pre-tax adjustments.


SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corp. (NASDAQ: WDC) today announced that several of its SanDisk subsidiaries have sought preliminary injunctive relief in the Superior Court of California for the County of San Francisco (“the Court”) preventing Toshiba Corporation (“Toshiba”) from transferring its three NAND flash-memory joint ventures (“the JVs”) operated with Western Digital until the request of the SanDisk subsidiaries for injunctive relief in arbitration is decided by the arbitral tribunal. Steve Milligan, chief executive officer of Western Digital, stated, “Western Digital has been working tirelessly to reach an agreement that is beneficial to all stakeholders. Toshiba Corporation’s attempts to circumvent our contractual rights have left us with no choice but to take this action. It is our concern that, left unchecked, Toshiba would pursue a course that clearly violates these rights and also runs decidedly counter to the best interests of the JVs and also to the hard working people at Toshiba Corporation’s NAND Flash business in Japan. Western Digital’s desire to work collaboratively with Toshiba for the benefit of the JVs and Japan is stronger than ever, and we will continue to pursue a solution that is in the best interests of all parties.” The anti-transfer provisions of the relevant agreements between Toshiba and SanDisk, which govern their NAND flash memory joint ventures (“JV agreements”), are unambiguous and explicitly require that Toshiba obtain SanDisk’s consent prior to any transfer of JV interests. Toshiba has acknowledged and validated SanDisk’s consent rights on multiple occasions in the past. While we have worked diligently with both Toshiba and the Japanese government to develop a solution that is in the best interests of all parties, Toshiba has continued to try to invent ways to circumvent Western Digital’s bargained-for consent rights under the JV agreements. Toshiba has likewise continued to obstruct all of Western Digital’s efforts to achieve an amicable resolution. As a result, we have been left with no choice but to take further steps to ensure that Toshiba does not unilaterally pursue a course of action that violates our clear contractual rights – one that would also be to the detriment of the JVs and Japan at large. Western Digital filed a request for injunctive relief in order to protect its interest in the JVs and its consent rights. Toshiba has no right to offer to transfer its JV interests to a third party and has no ability to enter into any transaction with a third party without obtaining our consent. We are confident in our ability to protect our interests and rights. On May 14, 2017, Western Digital announced that several of its SanDisk subsidiaries filed a Request for Arbitration with the ICC International Court of Arbitration related to the three NAND flash-memory joint ventures operated with Toshiba, and Western Digital is moving forward with the arbitration. The Court filings will be available on the website for the Superior Court of California, County of San Francisco, which can be accessed at http://sfsuperiorcourt.org/online-services. Western Digital is an industry-leading provider of storage technologies and solutions that enable people to create, leverage, experience and preserve data. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with customer-focused innovation, high efficiency, flexibility and speed. Our products are marketed under the HGST, SanDisk and WD brands to OEMs, distributors, resellers, cloud infrastructure providers and consumers. Financial and investor information is available on the company's Investor Relations website at investor.wdc.com. This news release contains certain forward-looking statements, including statements concerning the JVs, SanDisk’s rights under the JV agreements and Western Digital’s or SanDisk’s actions in response to Toshiba’s agreement to sell its memory business. There are a number of risks and uncertainties that may cause these forward-looking statements to be inaccurate including, among others: uncertainties with respect to the company's business ventures with Toshiba; volatility in global economic conditions; business conditions and growth in the storage ecosystem; impact of competitive products and pricing; market acceptance and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; our development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with acquisitions, mergers and joint ventures; difficulties or delays in manufacturing; and other risks and uncertainties listed in the company's filings with the Securities and Exchange Commission (the "SEC"), including the company's Form 10-Q filed with the SEC on May 8, 2017, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. Western Digital, WD and SanDisk are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the U.S. and/or other countries. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. © 2017 Western Digital Corporation or its affiliates. All rights reserved.


News Article | June 21, 2017
Site: www.businesswire.com

SAN JOSE, Calif.--(BUSINESS WIRE)--Western Digital Corp. (NASDAQ: WDC) today issued the following statement regarding Toshiba Corporation’s selection of a consortium led by Korea-based SK Hynix Inc. and Bain Capital Japan, with funding provided by Japanese government funds Innovation Network Corporation of Japan and Development Bank of Japan Inc., as the preferred bidder regarding the sale of Toshiba’s interests in three NAND flash-memory joint ventures operated with Western Digital’s SanDisk subsidiaries (“Flash JVs”): Toshiba Corporation continues to ignore both SanDisk’s consent rights and the dual-track legal process currently underway. The language of the relevant agreements is clear: Toshiba Corporation has no right to transfer its JV interests to a third party without SanDisk’s consent. SanDisk has not given its consent to any transaction, and will continue to protect its JV interests and preserve its rights through both its request for injunctive relief and the arbitration process. We note that Toshiba has acknowledged and validated SanDisk’s consent rights on multiple occasions. Furthermore, certain parties identified in Toshiba’s announcement have previously been notified by Western Digital that it considers any effort to aid Toshiba’s breach of its contractual obligations to SanDisk, including any agreement to directly or indirectly transfer any portion of the joint venture, as tortious interference with contract. On June 15, 2017, Western Digital’s SanDisk subsidiaries filed a request for injunctive relief seeking to prevent Toshiba Corporation from transferring its JV interests until the request of the subsidiaries for injunctive relief in arbitration is decided by the arbitral tribunal. The arbitration filed on May 14, 2017, with the ICC International Court of Arbitration continues to move forward in parallel. We remain confident in our consent rights and our legal position and look forward to the hearing for injunctive relief, which is scheduled for July 14, 2017. Western Digital is an industry-leading provider of storage technologies and solutions that enable people to create, leverage, experience and preserve data. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with customer-focused innovation, high efficiency, flexibility and speed. Our products are marketed under the HGST, SanDisk and WD brands to OEMs, distributors, resellers, cloud infrastructure providers and consumers. Financial and investor information is available on the company's Investor Relations website at investor.wdc.com. This news release contains certain forward-looking statements, including statements concerning the Flash JVs, SanDisk’s rights under the JV agreements and Western Digital’s or SanDisk’s actions in response to Toshiba’s announcement that it has declared a preferred bidder regarding the sale of Toshiba’s interests in the Flash JVs. There are a number of risks and uncertainties that may cause these forward-looking statements to be inaccurate including, among others: uncertainties with respect to the company's business ventures with Toshiba; volatility in global economic conditions; business conditions and growth in the storage ecosystem; impact of competitive products and pricing; market acceptance and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; our development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with acquisitions, mergers and joint ventures; difficulties or delays in manufacturing; and other risks and uncertainties listed in the company's filings with the Securities and Exchange Commission (the "SEC"), including the company's Form 10-Q filed with the SEC on May 8, 2017, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. Western Digital, WD and SanDisk are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the U.S. and/or other countries. Other trademarks, registered trademarks, and/or service marks, indicated or otherwise, are the property of their respective owners. © 2017 Western Digital Corporation or its affiliates. All rights reserved.


News Article | August 10, 2017
Site: www.businesswire.com

SANTA CLARA, Calif.--(BUSINESS WIRE)--Western Digital Corp. (NASDAQ: WDC), a global data storage technology and solutions leader, today announced that it has received the Flash Memory Summit ‘Best of Show’ award for the company’s BiCS4 technology, the world’s first 3D NAND technology with 96 layers of vertical storage capability. The honor, received in the “Technology” category, recognizes innovations that will “change the way flash memory works and is used in products.” The recipients of this award are distinguished by significant differentiation of their intellectual property and patents from competing technologies in the flash memory industry. “Our successful development of the world’s first 96-layer 3D NAND technology underscores Western Digital’s ongoing leadership in NAND flash and is a major milestone for continued NAND flash scaling,” said Jian Chen, senior vice president of memory technology at Western Digital. “BiCS4 provides superior capacity, density, performance and reliability for customers across a broad range of applications and allows us to keep pace with the escalating storage requirements of today’s data-centric world.” Western Digital’s BiCS4 technology is the latest in a series of NAND flash “industry firsts” going back nearly three decades. These include development of the world’s first 64-layer 3D NAND technology in July 2016 and the world’s first 48-layer 3D NAND technology in 2015 and introductions of the industry’s first two-bits-per-cell (X2) and three-bits-per-cell (X3) technologies, among others. Last month, the company also announced the development of its first four-bits-per-cell (X4) 3D NAND technology. “3D NAND is taking the market by storm, addressing a full range of end markets including consumer, mobile, computing and data center,” said Jay Kramer, chairman of the Flash Memory Summit Awards Program and president of Network Storage Advisors, Inc. “We are proud to recognize Western Digital’s 96 Layer 3D NAND BiCS4 for its innovation as the industry’s first 3D NAND technology with 96 layers of vertical storage capability. The 96 layers will enable new levels of storage capacity, density, performance and reliability to meet the future application needs of the marketplace.” The presentation of the Flash Memory Summit award highlights the culmination of a strong presence at the Flash Memory Summit 2017 this week, including a keynote presentation by Western Digital Executive Vice President and Chief Technology Officer Martin Fink entitled, “Toward a Memory-centric Architecture.” Fink addressed how today’s Big Data and Fast Data applications are driving the need for purpose-built, data-centric compute architectures based on open standards and industry-wide innovation. Other company highlights at the show included demonstration of the company’s first SSD based on X4 technology, recognition by IT Brand Pulse in their “PCIe NVMe Card – SSD” awards category and numerous Western Digital speakers and managed sessions on a wide range of topics including NVMe, maximizing SSD performance for critical applications and persistent memory. Western Digital is an industry-leading provider of storage technologies and solutions that enable people to create, leverage, experience and preserve data. The company addresses ever-changing market needs by providing a full portfolio of compelling, high-quality storage solutions with customer-focused innovation, high efficiency, flexibility and speed. Our products are marketed under the HGST, SanDisk and WD brands to OEMs, distributors, resellers, cloud infrastructure providers and consumers. Financial and investor information is available on the company's Investor Relations website at investor.wdc.com © Western Digital is a trademarks of Western Digital Corporation or its affiliates in the US and/or other countries. All other marks are the property of their respective owners. Western Digital Technologies, Inc. is the seller of record and licensee in the Americas of SanDisk® products. This news release contains certain forward-looking statements, including statements concerning our 3D NAND technology, including its capacity, performance and capabilities, our product development efforts, market positioning, growth opportunities and market trends. There are a number of risks and uncertainties that may cause these forward-looking statements to be inaccurate including, among others: uncertainties with respect to the company's business ventures with our joint venture partner; volatility in global economic conditions; business conditions and growth in the storage ecosystem; impact of competitive products and pricing; market acceptance and cost of commodity materials and specialized product components; actions by competitors; unexpected advances in competing technologies; our development and introduction of products based on new technologies and expansion into new data storage markets; risks associated with acquisitions, mergers and joint ventures; difficulties or delays in manufacturing; and other risks and uncertainties listed in the company's filings with the Securities and Exchange Commission (the "SEC"), including the company's Form 10-Q filed with the SEC on May 8, 2017, to which your attention is directed. You should not place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

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