June 2008 -- Western Digital Corp. recorded revenues of $5.5 billion in 2007, an increase of 26% over 2006.
Earnings per share of $2.50 in 2007 compares with $1.76 per share in 2006, a 42% increase. The
company generated more than $600 million in cash from operations during fiscal 2007, a 68%
improvement over 2006, and ended the year with $907 million of cash and short-term investments,
an increase of 30% over the prior fiscal year.
In a letter to stockholders president and CEO John Coyne noted "fiscal 2007 represents our fifth
consecutive year of substantial growth in our research and development and capital spending to
support a significant deepening and acceleration of our technology capability and a broadening
of our product portfolio. Over the five-year period, we have grown our investment spending 270%,
from $170 million in fiscal 2002 to $630 million in fiscal year 2007."
Western Digital more than doubled its 2.5-inch drive shipments, year-over-year to 12.3 million
units. Western Digital reports that revenue from Branded Products grew by over 180% year-over-
year to more than $870 million. As a result of activity in newer markets Western Digital's
revenue from non-desktop PC drives expanded to 43% of revenue in fiscal 2007, compared with 29%
in fiscal 2006. The company exited the year with almost 50% of revenue derived from non-desktop
applications.
