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TableofContents
ITEM7.MANAGEMENT'SDISCUSSIONANDANALYSISOFFINANCIALCONDITIONANDRESULTSOFOPERATIONS
ThefollowingisadiscussionoftheCompany'sfinancialcondition,changesinfinancialconditionandresultsofoperationsforthefiscalyearsended,July3,
2015,June27,2014andJune28,2013.
Youshouldreadthisdiscussioninconjunctionwith"Item6.SelectedFinancialData"and"Item8.FinancialStatementsandSupplementaryData"included
elsewhereinthisAnnualReportonForm10-K.Exceptasnoted,referencestoanyfiscalyearmeanthetwelve-monthperiodendingontheFridayclosestto
June30ofthatyear.Accordingly,fiscalyear2015comprised53weeksandendedonJuly3,2015.Fiscalyears2014and2013comprised52weeksandendedon
June27,2014andJune28,2013,respectively.Fiscalyear2016willbe52weeksandwillendonJuly1,2016.
SomeofthestatementsandassumptionsincludedinthisAnnualReportonForm10-Kareforward-lookingstatementswithinthemeaningofSection27Aof
theSecuritiesActof1933orSection21EoftheSecuritiesExchangeActof1934,eachasamended,including,inparticular,statementsaboutourplans,strategies
andprospectsandestimatesofindustrygrowthforthefiscalquarterendingOctober2,2015andthefiscalyearendingJuly1,2016andbeyond.Thesestatements
identifyprospectiveinformationandmayincludewordssuchas"expects,""intends,""plans,""anticipates,""believes,""estimates,""predicts,""projects"and
similarexpressions.Theseforward-lookingstatementsarebasedoninformationavailabletotheCompanyasofthedateofthisAnnualReportonForm10-Kand
arebasedonmanagement'scurrentviewsandassumptions.Theseforward-lookingstatementsareconditioneduponandalsoinvolveanumberofknownand
unknownrisks,uncertaintiesandotherfactorsthatcouldcauseactualresults,performanceoreventstodiffermateriallyfromthoseanticipatedbytheseforward-
lookingstatements.Suchrisks,uncertaintiesandotherfactorsmaybebeyondourcontrolandmayposearisktoouroperatingandfinancialcondition.Suchrisks
anduncertaintiesinclude,butarenotlimitedto:uncertaintyinglobaleconomicconditions,asconsumersandbusinessesmaydeferpurchasesinresponseto
tightercreditandfinancialnews;theimpactofvariabledemandandtheadversepricingenvironmentfordiskdrives,particularlyinviewofcurrentbusinessand
economicconditions;ourabilitytosuccessfullyqualify,manufactureandsellourdiskdriveproductsinincreasingvolumesonacost-effectivebasisandwith
acceptablequality,particularlythenewdiskdriveproductswithlowercoststructures;theimpactofcompetitiveproductannouncements;currencyfluctuations
thatmayimpactourmarginsandinternationalsales;possibleexcessindustrysupplywithrespecttoparticulardiskdriveproductsanddisruptionstooursupply
chainorproductioncapabilities.Informationconcerningrisks,uncertaintiesandotherfactorsthatcouldcauseresultstodiffermateriallyfromthoseprojectedin
suchforward-lookingstatementsisalsosetforthin"Item1A.RiskFactors"ofthisAnnualReportonForm10-K,whichweencourageyoutocarefullyread.These
forward-lookingstatementsshouldnotberelieduponasrepresentingourviewsasofanysubsequentdateandweundertakenoobligationtoupdateforward-
lookingstatementstoreflecteventsorcircumstancesafterthedatetheyweremade.Thefollowingisadiscussionofthefinancialconditionandresultsof
operationsforthefiscalyearsendedJuly3,2015,June27,2014andJune28,2013.
OurManagement'sDiscussionandAnalysisofFinancialConditionandResultsofOperations(MD&A)isprovidedinadditiontotheaccompanying
consolidatedfinancialstatementsandnotestoassistreadersinunderstandingourresultsofoperations,financialcondition,andcashflows.MD&Aisorganizedas
follows:
•OurCompany.Discussionofourbusiness.
•BusinessOverview.Discussionofindustrytrendsandtheirimpactonourbusiness.
•FiscalYear2015Summary.Overviewoffinancialandotherhighlightsaffectingusforfiscalyear2015.
•ResultsofOperations.Analysisofourfinancialresultscomparingfiscalyear2015to2014andcomparingfiscalyears2014to2013.
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