Western Digital 1997 Annual Report Download

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“The Western Digital
brand has come to
mean quality, reliability
and exceptional
security for the
information that
people create and
collect in their
professional and
personal lives.”
Western Digital
1997 Summary Annual Report

Table of contents

  • Page 1
    W est er n D igit al 1997 Summary Annual Report "T he Western Digital brand has come to mean quality, reliability and exceptional security for the information that people create and collect in their professional and personal lives."

  • Page 2
    ... C ompany Western Digital Corporation is a leading manufacturer of hard drives for information storage products. T he Company's hard drives form the foundations on which individuals, businesses and institutions build secure information environments. Western Digital manufactures hard drives for the...

  • Page 3
    ...June 30, 1994 July 1, 1995 June 29, 1996 June 28, 1997 Revenues, net Gross profit Operating income (loss) Net income (loss) ....2) $ 1,307.1) $ -) $ 620.0) 13,384) $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ * Reflects retroactive recognition of the two-for-one stock split that occurred in June 1997. 1

  • Page 4
    ... player in the worldwide market for hard drives, earned us a place among the Fortune 500 companies and, in 1996, gained recognition for Western Digital as the number one company on that list in total return to shareholders. In September of 1992, our Personal Storage Division launched its "platform...

  • Page 5
    Desktop Computing Enterprise Computing Mobile Computing 3 W est er n D igit al C o r po r at io n

  • Page 6
    ... recommended hard drives for replacement and add-on uses. Western Digital builds WD Enterprise SCSI hard drives for workstations, file servers, multi-user, audiovideo and a wide variety of network applications. Western Digital manufactures WD Portfolio hard drives for mobile computers in a new...

  • Page 7
    ... collect in their professional and personal lives. Western Digital's success over these five years could not have been accomplished without the able leadership of Kathy Braun, President and Chief Operating Officer of our Personal Storage Division, Marc Nussbaum, Senior Vice President of Engineering...

  • Page 8
    ... enterprise storage products. calendar year (source: IDC, July 1997) 46% 27% Western Digital vs. Industry Growth Rate Since 1992, Western Digital's unit volume has grown at a compounded annual rate of 46 percent, far in excess of the hard drive industry growth rate of 27 percent. Industry WDC...

  • Page 9
    A point of pride for the people of Western Digital is the attainment of special recognition for the Company's brand name. Efficient Use of Resources Revenues Per Employee Employee productivity as measured in revenues has grown at a compounded annual rate of 21percent over the past five years. (in ...

  • Page 10
    ...Western Digital's inventory risk and minimize working capital outlays. 92 93 94 95 96 97 (annual performance) 3.6 2.8 2.8 3.2 1.6 2.2 Asset Turns Western Digital... 97 Return on Invested Capital Western Digital has focused exclusively on the hard drive business, divested itself of unrelated...

  • Page 11
    ....53 for a total of $278 million. T he continuing stock buyback program reflects an outstanding investment opportunity which the Company believes...96 97 Market Capitalization Western Digital's total market value has grown as the Company improved its product quality, manufacturing efficiency and asset ...

  • Page 12
    ... Fiscal Years Ended (in thousands) July 1, 1995 June 29, 1996 June 28, 1997 Net income Adjustments to net income Net cash provided by operating activities Cash flows from investing... flows from financing activities: Repurchase of common stock Other financing activities Net cash provided by (used...

  • Page 13
    ...Deferred income taxes Shareholders' equity: Common stock and paid-in capital, net of treasury stock Retained earnings $ 514,022 16,229 ... of Western Digital Corporation and subsidiaries as of June 29, 1996 and June 28, 1997, and.... Orange County, California September 12, 1997 11 W est er n D igit al C...

  • Page 14
    ... Air Safety, L.L.C., Air Traffic Control Products and Services Peter D. Behrendt Chairman Exabyte Corporation Computer Tape Storage Products I.M. Booth Retired. Former Chairman, President and Chief Executive Officer Polaroid Corporation Photographic Equipment Irwin Federman General Partner...

  • Page 15
    ...Asia) Pte Ltd Singapore Western Digital T aiwan Co., Ltd. T aipei, T aiwan R.O.C. Western Digital (U.K.) Limited Leatherhead, Surrey, England Glasgow, Scotland Prague, Czech Republic Western Digital common stock is listed on the New York Stock Exchange and trades under the symbol WDC. Worldwide Web...

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