Western Digital Q4 Conference Call

Western Digital (NASDAQ: WDC) released its fourth quarter earnings on Wednesday. Shares of the company are upBelow are some key highlights from its conference call:Growth:• Western Digital achieved strong financial results in the June quarter, with better-than-anticipated revenue• Healthy gross margin performance and continued strong cash flow generation• We achieved these results by addressing continued robust demand in gaming.• We also saw strength in our performance enterprise business.• Longer-term, we remain excited about Western Digital's strong strategic position at the center of the storage ecosystem• Collectively, these developments highlight our broad-based participation in the growth of data.• Combined with our ongoing investments, I'm confident of Western Digital's future as a leading technology company and storage solutions provider.• Revenue for fiscal year 2014 was $15.1 billion, including $509 million from enterprise SSD, which represented a 43% increase from fiscal year 2013.• We continue to make progress on our journey towards a more diversified revenue mix.• 53% of our revenue coming from our branded, consumer electronics and enterprise HDD and SSD businesses.• Our revenue for the June quarter was $3.7 billion.• Over the long-term, we continue to expect that our SSD revenue growth will outpace the growth rate of the total enterprise SSD space.• We shipped a total of 63.1 million hard drives at an average selling price of $56.• Our gross margin for the quarter was 28.2%.• Our net income for the June quarter totaled $317 million, or $1.32 per share.• We repurchased 3.2 million shares for $272 million during the June quarter.• For fiscal year 2014, we repurchased 10.3 million shares for $816 million.• We also declared a dividend in the amount of $0.40 per share. In total, we paid dividends of $259 million during fiscal year 2014.• We repurchased 3.2 million shares for $272 million during the June quarter. For fiscal year 2014, we repurchased 10.3 million shares for $816 million.• We exited Q4 with total cash and cash equivalents of $4.8 billion, of which approximately $1.4 billion was in the U.S.Guidance:• We expect revenue to be in a range of $3.8 billion to $3.9 billion.• Share count of approximately 241 million.• Accordingly, we estimate non-GAAP earnings per share of between $1.95 and $2.05 for the September quarter.• As a reminder, we expect the sTec, VeloBit and Virident acquisitions to be accretive early in calendar year 2015.