Western Digital provided earnings guidance for the third quarter ending in March 2014. For the quarter, the company expects revenue to be seasonally down and in the range of $3.65 billion to $3.75 billion, reflecting the seasonally lower TAM; Gross margin approximately at the midpoint of 27% to 32% model, excluding the amortization of intangibles, reflecting the impact of lower factory utilization due to lower volumes; R&D and SG&A spending of approximately $600 million excluding the amortization of intangibles; A tax rate of approximately 8% and a share count of approximately $243 million. The company estimates non-GAAP earnings per share of between $1.80 and $1.90 for the March quarter, which includes a dilution impact of $0.10 from the sTec and Virident acquisitions.
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- Western Digital Provides Earnings Guidance for the Third Quarter Ending in March 2014