Western Digital 2012 Annual Report Download - page 60
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WESTERN DIGITAL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share amounts)
Years Ended
June 29,
2012
July 1,
2011
July 2,
2010
Revenue, net ....................................................... $12,478 $9,526 $9,850
Cost of revenue ..................................................... 8,840 7,735 7,449
Gross margin ..................................................... 3,638 1,791 2,401
Operating expenses:
Research and development ........................................... 1,055 703 611
Selling, general and administrative .................................... 518 307 265
Charges related to flooding, net ....................................... 214 — —
Impairment and other charges ........................................ 80 — —
Total operating expenses .......................................... 1,867 1,010 876
Operating income ................................................... 1,771 781 1,525
Other income (expense):
Interest income ................................................... 12 9 4
Interest and other expense ........................................... (26) (10) (9)
Total other expense, net ........................................... (14) (1) (5)
Income before income taxes ............................................ 1,757 780 1,520
Income tax provision ................................................. 145 54 138
Net income ........................................................ $ 1,612 $ 726 $1,382
Income per common share:
Basic ........................................................... $ 6.69 $ 3.14 $ 6.06
Diluted ......................................................... $ 6.58 $ 3.09 $ 5.93
Weighted average shares outstanding:
Basic ........................................................... 241 231 228
Diluted ......................................................... 245 235 233
The accompanying notes are an integral part of these consolidated financial statements.
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