Western Digital 2009 Annual Report Download - page 43

Item 6. Selected Financial Data
Financial Highlights
This selected consolidated financial data should be read together with the Consolidated Financial Statements and
related Notes contained in this Annual Report on Form 10-K and in the subsequent reports filed with the SEC, as well as
the section of this Annual Report on Form 10-K and the other reports entitled “Management’s Discussion and Analysis of
Financial Condition and Results of Operations.”
July 3,
2009
June 27,
2008
June 29,
2007
June 30,
2006
July 1,
2005
(in millions, except per share and employee data)
Revenue, net ............................... $ 7,453 $ 8,074 $ 5,468 $ 4,341 $ 3,639
Gross margin ............................... $ 1,337 $ 1,739 $ 900 $ 829 $ 590
Net income ................................ $ 470 $ 867 $ 564 $ 395 $ 196
Net income per common share:
Basic .............................. $ 2.12 $ 3.92 $ 2.57 $ 1.84 $ 0.94
Diluted ............................ $ 2.08 $ 3.84 $ 2.50 $ 1.76 $ 0.90
Working capital ............................. $ 1,705 $ 1,167 $ 899 $ 633 $ 361
Total assets................................. $ 5,291 $ 4,875 $ 2,901 $ 2,073 $ 1,589
Long-term debt ............................. $ 400 $ 482 $ 10 $ 19 $ 33
Shareholders’ equity .......................... $ 3,192 $ 2,696 $ 1,716 $ 1,157 $ 700
Number of employees ......................... 45,991 50,072 29,572 24,750 23,161
No cash dividends were paid for the years presented.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results
of Operations
Forward-Looking Statements
The following discussion and analysis contains forward-looking statements within the meaning of the federal securities laws. You
are urged to carefully review our description and examples of forward-looking statements included earlier in this Annual Report on
Form 10-K immediately prior to Part I, under the heading “Forward Looking Statements.” Forward-looking statements are subject to
risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. You
are urged to carefully review the disclosures we make concerning risks and other factors that may affect our business and operating
results, including those made in Item 1A of this Annual Report on Form 10-K, as well as our other reports filed with the SEC. You are
cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this document. We do not
intend, and undertake no obligation, to publish revised forward-looking statements to reflect events or circumstances after the date of this
document or to reflect the occurrence of unanticipated events.
Our Company
We design, develop, manufacture and sell hard drives. A hard drive is a device that uses one or more rotating
magnetic disks to store and allow fast access to data. Hard drives are key components of computers, including desktop and
notebook computers (“PCs”), data storage subsystems and many consumer electronic (“CE”) devices.
We sell our products worldwide to original equipment manufacturers (“OEMs”) and original design manufacturers
(“ODMs”) for use in computer systems, subsystems or CE devices, and to distributors, resellers and retailers. Our hard
drives are used in desktop computers, notebook computers, and enterprise applications such as servers, workstations,
network attached storage, storage area networks and video surveillance equipment. Additionally, our hard drives are used
in CE applications such as digital video recorders (“DVRs”), and satellite and cable set-top boxes (“STBs”). We also sell
our hard drives as stand-alone storage products and integrate them into finished enclosures, embedding application
software and offering the products as WD»-branded external storage appliances for personal data backup and portable or
expanded storage of digital music, photographs, video and other digital data.
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