Western Digital has announced its earnings for the quarter ending April 2016, netting an overall revenue of $2.8 billion with a profit of $74 million. Net income was $283 million, considerably lower than the $441 million from the same period a year ago. Overall revenue was also down from $3.5 billion in Q3 of FY2015.
WD CEO Steve Milligan said that the vendor will aim for a much more positive outlook following the acquisition of SanDisk:
We continue to manage our business effectively in a dynamic storage demand environment. Computer usage continues to shift from PCs to mobile devices and enterprise workloads are moving increasingly to cloud-based architectures. Our strategy to become a broad-based provider of media-agnostic storage solutions anticipates these and other trends.
After we complete the acquisition of SanDisk, we will be better positioned to address and capitalize on these changes and opportunities, with the storage industry’s broadest set of products, a rich technology portfolio, and an experienced team in both rotating magnetic and non-volatile memory.
The SanDisk acquisition is set to be finalized sometime in the month of June.