EX-99.3 5 a76496ex99-3.htm EXHIBIT 99.3 Western Digital Corporation Exhibit 99.3
 

Exhibit 99.3

WESTERN DIGITAL CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS
Restated for Discontinued Operations and the Adoption of SAB 101*
(in thousands, except per share amounts)

                                             
        (unaudited)        
        Three Months Ended   Year Ended
       
 
        Sep. 29,   Dec. 29,   Mar. 30,   Jun. 29,   Jun. 29,
        2000   2000   2001   2001   2001
       
 
 
 
 
Revenues, net
   $ 424,366     $ 561,570     $ 511,723     $ 455,733     $ 1,953,392  
Costs and expenses:
                                        
 
Cost of revenues
     398,430       494,029       448,428       404,767       1,745,654  
 
Research and development
     32,001       33,617       32,085       24,811       122,514  
 
Selling, general and administrative
     29,523       31,925       30,225       27,448       119,121  
 
    
     
     
     
     
 
   
Total costs and expenses
     459,954       559,571       510,738       457,026       1,987,289  
 
    
     
     
     
     
 
Operating income (loss)
     (35,588 )     1,999       985       (1,293 )     (33,897 )
Net interest and other nonoperating income (expense)
     (1,632 )     839       52       (52,454 )     (53,195 )
 
    
     
     
     
     
 
Income (loss) from continuing operations
     (37,220 )     2,838       1,037       (53,747 )     (87,092 )
Discontinued operations
     (8,045 )     (9,827 )     (7,156 )     (7,639 )     (32,667 )
Extraordinary gain from redemption of debentures
     11,243       10,576       371       210       22,400  
Cumulative effect of change in accounting principle
     (1,504 )     —       —       —       (1,504 )
 
    
     
     
     
     
 
Net income (loss)
   $ (35,526 )   $ 3,587     $ (5,748 )   $ (61,176 )   $ (98,863 )
 
    
     
     
     
     
 
Basic and diluted income (loss) per common share:
                                        
Loss from continuing operations
   $ (0.25 )   $ 0.02     $ 0.01     $ (0.30 )   $ (0.52 )
Discontinued operations
     (0.05 )     (0.06 )     (0.04 )     (0.04 )     (0.19 )
Extraordinary gain
     0.07       0.06       0.00       0.00       0.13  
Cumulative effect of change in accounting principle
     (0.01 )     —       —       —       (0.01 )
 
    
     
     
     
     
 
Basic and diluted
   $ (0.24 )   $ 0.02     $ (0.03 )   $ (0.34 )   $ (0.59 )
 
    
     
     
     
     
 
Common shares used in computing per share amounts:
                                        
Basic and diluted
     148,044       171,175       176,250       179,390       168,715  
 
    
     
     
     
     
 

     •     The prior year results have been restated to reflect the adoption of SEC Staff Accounting Bulletin No. 101 in the fourth quarter of fiscal 2001, and the reclassification of Connex and SANavigator results as discontinued operations.