Western Digital 1996 Annual Report Download

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Western Digital 1996
Summary Annual Report

Table of contents

  • Page 1
    Western Digital 1996 Su m m ar y A n n u al R e p o r t

  • Page 2
    ...a line of high-end hard drives for use in workstations, servers and other enterprise applications. Established in 1970,Western Digital is the first U.S.-headquartered, multinational company to have been awarded company-wide ISO 9001 registration, linking all WD organizations with a consistent global...

  • Page 3
    ... data) June 30, 1992 June 30, 1993 June 30, 1994 July l, 1995 June 29, 1996 R evenues, net Gross profit O perating income (loss) Net income (loss) Fully diluted earnings (loss) per share Working capital Total assets Long-term debt Shareholders' equity Number of employees $938.3 110.6 (67.0) (72...

  • Page 4
    ... 2.5-gigabyte capacities. Manufacturing capacity for desktop drives has been increased substantially by more than doubling the capacity of our facility in Malaysia and by productivity improvements in our Chai Chee Singapore plant, as well as through additions and improvements in our California media...

  • Page 5
    ... continue to build customer satisfaction and customer loyalty and preserve the great value in the Western Digital brand. The opportunity going forward is huge. Demand is strong for both our Personal Storage and Enterprise Storage Groups' products. Industry analysts expect hard drive unit growth to...

  • Page 6
    .... When the future of your unique information environment is at stake, the brand name on the hard drive does make a difference. Western Digital is a leader in Enhanced IDE drives for desktop personal computers. Western Digital's new SC SI drives are for servers, workstations and network applications...

  • Page 7

  • Page 8
    ....2% Western Digital has consistently gained market share in a very competitive environment by growing customer relationships, introducing new products early, producing quality products, deploying technology, executing manufacturing efficiently, and improving time to market. W orl dw i d e M ark et...

  • Page 9
    ... oy ee (in thousands) 92 93 94 95 96 18.9% 15.7% 14.7% 12.3% 10.6% Western Digital employs aggressive cost controls that result in an expense structure regarded as the most competitive in the hard drive industry. T ot al O p erat i n g E x p en ses (percent of revenue) 92 93 94 95 96 7

  • Page 10
    ..., plant and equipment. $13 $6 $4 R ev en u e P er N et P P &E 92 93 94 95 96 20.1 19.7 18.0 9.4 9.0 T he fastest inventory turns in its industry reduce Western Digital's inventory risk and minimize working capital outlays. Western Digital's inventory management system meets customers...

  • Page 11
    ...95 96 $0 Sh ar e h o l d e r Val u e $1,138 $869 Western Digital's total market value has grown as the C ompany improved its product quality, manufacturing efficiency and asset management. $572 $146 $142 M ark et C ap i t al i z at i on as of Y ear E n d (in millions) 92 93 94 95 96 9

  • Page 12
    ...se d C o n so l i d at e d St at e m e n t s o f C ash F l o w s (in thousands) Years ended June 30, 1994 July 1, 1995 June 29, 1996... Net income Adjustments to net income Cash flows from operating activities Cash flows from investing activities: Capital expenditures, net Proceeds from sale...stock...

  • Page 13
    ... the consolidated balance sheets of Western Digital Corporation and subsidiaries as of July 1, 1995 and June 29, 1996, and the related consolidated statements of income, shareholders equity and cash flows for the three years ended June 29, 1996; and in our report dated July 24, 1996, we expressed an...

  • Page 14
    ... O fficer Kathryn A. Braun Executive Vice President, Personal Storage Group David W. Schafer Senior Vice President,Worldwide Sales Duston M.Williams Senior Vice President and Chief Financial O fficer Marc H. Nussbaum Senior Vice President, Engineering, Personal Storage Group Michael A. Cornelius...

  • Page 15
    ... egistrar Irvine, California San Jose, California R ochester, Minnesota Manufacturing Facilities American Stock Transfer & Trust Company 40 Wall Street, 46th Floor New York, NY 10005 Telephone: (718) 921-8200 C ertified Public A ccountants Santa Clara, California Malaysia Singapore Domestic Sales...