Western Digital announces its Fiscal Q3 Report
Western Digtial Corp. reported revenue of $2.6 billion and net income of $400 million (or $1.71 per share) for its third fiscal quarter which ended last April 2, 2010. Also, according to the report, WD hard drive shipments summed up to 51.1 million units.
Read PR Below:
WD® ANNOUNCES FISCAL Q3 REVENUE OF $2.6 BILLION WITH NET INCOME OF
$400 MILLION, OR $1.71 PER SHARE
Revenue Up 66 Percent, Hard Drive Shipments Up 62 Percent, From Year-ago Quarter
MANILA, Philippines – May 10, 2010 – Western Digital Corp. (NYSE: WDC) today reported revenue of $2.6 billion, hard drive shipments of 51.1 million units and net income of $400 million, or $1.71 per share, for its third fiscal quarter ended Apr. 2, 2010. In the year-ago quarter, the company reported revenue of $1.6 billion, hard drive shipments of 31.6 million units, and net income of $50 million, or $0.22 per share.
The company generated $588 million in cash from operations during the third quarter, ending with total cash and cash equivalents of $2.8 billion.
John Coyne, president and chief executive officer, said: “With market demand stronger than anticipated in the March quarter, our large-scale vertical integration, agile business model and product breadth allowed us to respond to this upside opportunity and again grow our share of the overall hard drive market.
“We believe that 2010 will continue to be a strong year for digital storage,” said Coyne. “We will maintain our focus on facilitating our customers’ growth and making them successful while at the same time achieving sustained profitability for WD.”