Western Digital Corp. said its normalized net income for the fiscal first quarter ended Oct. 3 amounted to $1.26 per share, compared with the S&P Capital IQ consensus estimate of $2.03 per share.
In the prior-year period, the per-share result came in at a profit of $1.27.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $301.9 million, a decline from $306.9 million in the first quarter ended Sept. 27, 2013.
The normalized profit margin fell to 7.7% from 8.1% in the year-earlier period.
Total revenue grew year over year to $3.94 billion from $3.80 billion, and total operating expenses rose on an annual basis to $3.45 billion from $3.30 billion.
Reported net income declined 14.9% on an annual basis to $422.4 million, or $1.76 per share, from $496.1 million, or $2.05 per share.
