Western Digital 2012 Annual Report Download - page 3

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Fiscal 2012, despite multiple challenges, was one of signi cant
achievement by the people of Western Digital.
We dealt with the after effects on our operations and supply chain
of the earthquake and tsunami in Japan and the ruinous  ooding in
Thailand through the passion, dedication and remarkable recovery
work of our employees and supply partners, and to the support of
our many loyal customers.
We also completed the largest transaction of its kind in our industry
when we completed the $4.7 billion acquisition of Hitachi Global
Storage Technologies, now our HGST subsidiary. Consistent
with regulatory requirements, we are operating WD and HGST as
separate subsidiaries for at least two years.
Revenues grew by nearly one-third and earnings more than
doubled from the prior year, extending Western Digital’s 10-year
record of compound annual revenue and earnings per share
growth to 19% and 34%, respectively. Driving this track record
is our constant focus on identifying and successfully addressing
evolving market trends and delighting customers with innovative,
high-quality and reliable products to address those trends.
We continued to produce robust cash  ows in  scal 2012 that
further strengthened our  nancial condition. We invested
$1.1 billion in research and development and $717 million in capital
improvements to generate a continued  ow of innovations and the
facilities and equipment needed to produce them, as well as to
fund our recovery of capacity impaired by the  ooding.
John F. Coyne, Chief Executive Of cer
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
FY2008 FY2009 FY2010 FY2011 FY2012
$9,526
$12,478
$8,074
$7,453
$9,850
REVENUE
Dollars in millions
Customer preference and satisfaction,
continued long-term demand for storage and
the acquisition of HGST in  scal 2012 have led
to a 55% increase in revenue from  scal 2008.
$0
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
$7.00
$8.00
FY2008 FY2009 FY2010 FY2011 FY2012
$3.09
$6.58
$3.84
$2.08
$5.93
EARNINGS PER SHARE
A highly ef cient business model, agile
operations and experienced management
team underpin Western Digital’s ability to
deliver solid pro tability.
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