Western Digital -10% on $351M net loss

• Though beating expectations with 9.4% Y/Y revenue growth, Western Digital (NASDAQ:WDC -9.9%) is not even three months removed from its acquisition of SanDisk and is seeing heavy operating expenses as a result.
• CEO Steve Milligan noted FY 16 as a "transformative year". He also commented on moving past an acquisition stage and into an execution phase.
• FY 16 revenue is $13B with net income of $257M vs. FY 15 revenue of $14.6B and $1.5B in net income.
• The company provided September quarter guidance for revenue of $4.4B-$4.5B, gross margin of around 32%, operating expenses of approximately $875M, interest and other expenses of around $245M, tax expense of $50M, share count of 290M and EPS of $0.85-$0.90.
• Press release
• Earnings call transcript