HomeNewsWestern Digital Q1 revenue decreased by 19.7% year-on-year, CEO is about to step down

Western Digital Q1 revenue decreased by 19.7% year-on-year, CEO is about to step down

According to the financial network report, data storage equipment manufacturer Western Digital announced the first quarter of the 2020 fiscal year (as of October 4, 2019) financial report: revenue of 4.04 billion US dollars, a year-on-year decrease of 19.7%; diluted earnings per share of 0.34 US dollars , a year-on-year decrease of 88.8%.

Western Digital estimates that in the second quarter of fiscal year 2020 (as of January 3, 2020) revenue will be between $41.0 and $430 million, and Non-GAAP diluted earnings per share is expected to be between $0.45 and $0.65. between. It is not much different from previous analyst estimates.

In addition, Western Digital released a press release on October 30, and CEO Steve Milligan has informed the board that he plans to step down as CEO.

It is reported that Milligan will continue to serve as CEO until the board of directors finds and assigns a successor, and then will continue to serve as a consultant in the company until September 2020 to ensure a smooth transition.

Milligan joined the company for the first time in 2002 and served as the chief financial officer for the period 2004-2007. Since January 2013, he has served as CEO and director of Western Digital.

Milligan said in a financial news release that Western Digital continues to believe that the flash memory industry has gone through a cyclical bottom, and its flash memory portfolio trend is improving.