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During fiscal year 2013, we demonstrated the strength
of our business model with excellent operating results
underpinned by strong execution by our HGST and WD
subsidiaries. We also continued to expand our footprint in
the storage industry through investments addressing high
growth opportunities in the public and private clouds, thin
and light ultraportable devices and the Connected Life in
homes and small and medium-sized businesses.
Revenue for fiscal year 2013 was $15.4 billion, up
23% from $12.5 billion in fiscal 2012, reflecting the
contribution of a full year of HGST operations. We
generated $3.1 billion in cash from operations during
the fiscal year and our free cash flow totaled
$2.2 billion (which consisted of cash flow from
operations less capital expenditures). As part of our
capital allocation strategy, we repurchased 19.0 million
shares in fiscal 2013 for $842 million. We also declared
dividends totaling $1.00 per share, or $240 million,
during fiscal year 2013.
Steve Milligan, President and Chief Executive Officer
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
FY2009 FY2010 FY2011 FY2012 FY2013
$9,526
$12,478
$15,351
$7,453
$9,850
REVENUE
Dollars in millions
Collaborative relationships with customers,
the growth in digital data and the acquisition
of HGST have led to a 106% increase in
revenue since fiscal 2009.
Dear Fellow Shareholders:
0%
10%
20%
30%
40%
50%
60%
FY2009 FY2010 FY2011 FY2012 FY2013
37%
36%
50%
34%
34%
PERCENTAGE OF REVENUE FROM
NON-PC MARKETS
For fiscal 2013, 50% of our revenue was
derived from non-PC markets, which include
enterprise applications, branded products
and CE products.