Tuesday, October 23, 2012
Western Digital Generating Nearly $1 Billion In Cash Every Quarter
How big is Irvine-based disk drive maker Western Digital? Apparently, very big. The firm announced its results yesterday, saying that it is generated $936M in cash from operations during its September quarter, based on $4.0 billion in revenues. For comparison, all of the venture capital investment into Southern California last quarter was less than the amount of cash generated by Western Digital from its operations--a mere $694M. Western Digital has been taking that cash and putting it towards both stock buybacks and dividends, but still says it has cash and cash equivalents of $3.5 billion.