Western Digital (WDC)

Q2 2011 Earnings Call

January 18, 2011 6:00 pm ET


John Coyne - Chief Executive Officer, President, Executive Director and Chairman of Executive Committee

Timothy Leyden - Chief Operating Officer

Wolfgang Nickl - Chief Financial Officer and Senior Vice President

Bob Blair -


Richard Kugele - Needham & Company, LLC

Aaron Rakers - Stifel, Nicolaus & Co., Inc.

Jayson Noland - Robert W. Baird & Co. Incorporated

Shebly Seyrafi - Capstone Investments

Sherri Scribner - Deutsche Bank AG

Steven Fox - Credit Agricole Securities (USA) Inc.

Bill Shope - J.P. Morgan

Mark Moskowitz - JP Morgan Chase & Co



Good afternoon, and thank you for standing by. Welcome to Western Digital Second Quarter Financial Results for Fiscal Year 2011. [Operator Instructions] Now I will turn the call over to Mr. Bob Blair. You may begin.

Bob Blair

Thank you. I want to mention that we will be making forward-looking statements in our comments and in response to your questions concerning a number of matters: the total available market for hard drives in the March quarter and in 2011, industry capital expenditures for 2011, our growth rate and growth plan for 2011, our growth opportunities in the medium to long term, our position within the storage industry, our inventory holding and supply and demand balancing in the March quarter, our expected capital expenditures, depreciation and amortization and tax rate for fiscal 2011, our share repurchase plans, our financial results expectations for the March quarter, including revenue, gross margin, expenses, tax rate, share count and earnings per share. These forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could cause actual results to differ materially, including those listed in our 10-Q filed with the SEC on October 29, 2010. We undertake no obligation to update our forward-looking statements to reflect new information or events, and you should not assume later in the quarter that the comments we make today on this call are still valid. I also want to note that copies of remarks from today's call will be available on the Investors Section of Western Digital's website immediately following the conclusion of this call. I'll now turn the call over to President and Chief Executive Officer, John Coyne.

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