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WD expects good quarter

Western Digital Corp (WDC) expects revenues of $3.46bn in the just-closed quarter, instead of the forecast $3.35bn - $3.45bn range – $3.4bn at the mid-point.

This is its fourth fiscal 2016 quarter and the first with SanDisk results included. CFO Olivier Leonetti is leaving on September 1, with chief strategy officer and EVP Mark Long assuming the CFO role after 3 years as top strategy guy. We’re told “he played a lead role in conceiving, executing and completing the SanDisk acquisition in addition to several other acquisitions”.

Long worked with WDC CEO Steve Milligan at HGST, and Milligan was previously an HGST CFO. Full Q4 and full year fiscal 2016 results will be reported on July 28. Milligan bought 22,500 WDC shares for $1m in the open market in early June. ®

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