Western Digital Corporation (WDC) F4Q10 Earnings Conference Call July 21, 2010 5:00 PM ET Executives Bob Blair – VP, IR John Coyne – President and CEO Timothy Leyden – EVP and CFO Analysts Richard Kugele – Needham & Company, LLC Ananda Baruah -Brean Murray, Carret & Co., LLC Craig [ph] – Merrill Lynch Aaron Rakers – Stifel, Nicolaus & Co., Inc. Kevin Hunt – Hapoalim Securities USA, Inc. Keith Bachman – Bank of Montreal Sherri Scribner – Deutsche Bank Steve Fox – CLSA Limited Mark Moskowitz – JP Morgan Chase & Co Kay Huberty – Morgan Stanley PresentationOperator
Good afternoon and thank you for standing by. Welcome to Western Digital's Fourth Quarter Financial Results for Fiscal Year 2010. Presently all participants are in a listen-only mode. Later we will conduct a question-and-answer session. (Operator Instructions) As a reminder this call is being recorded. Now I'll turn the call over to Mr. Bob Blair. You may begin. Bob Blair Thank you. I want to mention as we begin, that we will be making forward-looking statements in our comments and in response to your questions concerning industry inventory, pricing and demand, our position in the industry, our growth and profitability, the impact of our entry into and our position in the traditional enterprise market, the impact of our acquisition of Hoya's magnetic media operations, the sufficiency of our cash to meet operating needs, our investments in technology and capacity, our expected capital expenditures, depreciation and amortization and tax rate for fiscal 2011, our share repurchase plans, our long-term business model and our financial results, expectations for the September quarter including revenue, gross margin, expenses, tax rate, share count and earnings per share.