Western Digital 1998 Annual Report Download - page 19

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Messrs. Haggerty, Massengill, Nussbaum, Schafer, Slavin and Williams have been employed by the Company for
more than five years and have served in various executive capacities with the Company before being appointed to
their present positions.
Mr. Cornelius joined the Company in his current position in January 1995. Prior to joining the Company, he held
the position of Vice President of Corporate Affairs for Nissan North America for two years.
Mr. Stern joined the Company in November 1994 as Vice President, New Product Introductions. He also served as
Vice President, Asian Operations for the Personal Storage Division. He was promoted to his current position in July
1998. Immediately prior to joining the Company, he served as Vice President, Asian Operations for MiniStor
Peripherals Corporation.
Mr. Van Berkel joined the Company in January 1995 as Director of Human Resources for the Personal Storage
Division and was promoted to his current position in May 1997. Prior to joining the Company, he served as Vice
President of Human Resources for Walker Interactive Systems for five years.
PART II
Item 5. Market for Registrant's Common Equity and Related Stockholder Matters
Western Digital's common stock is listed on the New York Stock Exchange ("NYSE") under the symbol "WDC."
The approximate number of holders of record of common stock of the Company as of July 25, 1998 was 3,758.
The Company has not paid any cash dividends on its common stock and does not intend to pay any cash dividends
in the foreseeable future. The Company's line of credit agreement prohibits the payment of cash dividends.
The high and low sales prices (retroactively adjusted for the two-for-one stock split effected as a stock dividend in
June 1997) of the Company's common stock, as reported by the NYSE, for each quarter of 1997 and 1998 are as
follows:
First Second Third Fourth
1997
High ................................................................................. $ 20 5/8 $ 31 11/16 $ 38 5/8 $ 37 1/8
Low.................................................................................. 9 15/16 19 3/16 26 1/4 26 5/16
1998
High ................................................................................. $ 54 3/4 $ 49 9/16 $ 20 7/16 $ 22 1/16
Low.................................................................................. 30 5/8 14 1/2 14 3/4 10 1/4
Item 6. Selected Financial Data
Financial Highlights
Years Ended
June 30,
1994 July 1, 1995 June 29, 1996 June 28, 1997 June 27, 1998
(in millions, except per share and employee data)
Revenues, net............................................ $1,539.7 $2,130.9 $ 2,865.2 $ 4,177.9 $ 3,541.5
Gross profit .............................................. 317.9 394.1 382.1 650.3 100.1
Operating income (loss) ........................... 91.9 133.0 77.5 301.6 (295.8)
Net income (loss) ..................................... $ 73.1 $ 123.3 $ 96.9 $ 267.6 $ (290.2)
Earnings (loss) per share:
Basic....................................................... $ .93 $ 1.34 $ 1.05 $ 3.07 $ (3.32)
Diluted.................................................... $ .86 $ 1.23 $ 1.01 $ 2.86 $ (3.32)
Working capital........................................ $ 261.7 $ 360.5 $ 280.2 $ 364.2 $ 463.5
Total assets............................................... $ 640.5 $ 858.8 $ 984.1 $ 1,307.1 $ 1,442.7
Total long-term debt................................. $ 58.6 $ $ $ $ 519.2
Shareholders' equity ................................. $ 288.2 $ 473.4 $ 453.9 $ 620.0 $ 317.8