Press Releases

Western Digital Reports Fourth Quarter and Fiscal Year 2020 Financial Results

SAN JOSE, Calif. - August 05, 2020

Western Digital Corp. (Nasdaq: WDC) today reported fourth quarter and fiscal year 2020 financial results.

"I am extremely proud of the way our team has navigated the complexities and uncertainties inherent in this unprecedented environment, as we continue to adapt to provide supply continuity and high-quality products to our customers and drive value for our shareholders," said David Goeckeler, Western Digital CEO. "While we continue to navigate through a dynamic environment, we remain focused on managing the business for the long-term, including ramping two important product lines to high volume: our SSD products and our energy-assisted capacity enterprise drives. We will continue to deliver the quality, performance and cost-effectiveness our customers rely on, and I am confident that our end market diversity and breadth, broad customer base, channel reach, and innovative leadership all position Western Digital to benefit from the multi-year growth in data creation and storage."

Q4 2020 Financial Highlights

 

GAAP

Non-GAAP

 

Q4 2020

Q4 2019

vs. Q4 2019

Q4 2020

Q4 2019

vs. Q4 2019

Revenue ($M)

$4,287

$3,634

up 18%

$4,287

$3,634

up 18%

Gross Margin

25.3%

12.8%

up 12.5 ppt

28.9%

24.2%

up 4.7 ppt

Operating Expenses ($M)

$822

$846

down 3%

$713

$722

down 1%

Operating Income (Loss) ($M)

$261

($381)

*

$527

$158

up 234%

Net Income (Loss) ($M)

$148

($197)

*

$369

$50

up 638%

Earnings Per Share

$0.49

($0.67)

*

$1.23

$0.17

up 624%

*not a meaningful figure

Fiscal Year 2020 Financial Highlights

 

GAAP

Non-GAAP

 

2020

2019

vs. 2019

2020

2019

vs. 2019

Revenue ($M)

$16,736

$16,569

up 1%

$16,736

$16,569

up 1%

Gross Margin

22.6%

22.6%

—

26.9%

30.5%

down 3.6 ppt

Operating Expenses ($M)

$3,446

$3,665

down 6%

$2,983

$3,022

down 1%

Operating Income (Loss) ($M)

$335

$87

up 285%

$1,522

$2,024

down 25%

Net Income (Loss) ($M)

($250)

($754)

*

$914

$1,429

down 36%

Earnings Per Share

($0.84)

($2.58)

*

$3.04

$4.84

down 37%

*not a meaningful figure

Key End Market Summary


Revenue ($M)

Q4 2020

Q4 2019

vs. Q4 2019

2020

2019

vs. 2019

Client Devices

$1,916

$1,606

up 19%

$7,160

$8,095

down 12%

Data Center Devices & Solutions

$1,684

$1,273

up 32%

$6,228

$5,038

up 24%

Client Solutions

$687

$755

down 9%

$3,348

$3,436

down 3%

Total Revenue

$4,287

$3,634

up 18%

$16,736