WD(R) Announces Fiscal Q2 Revenue of $2.6 Billion With Net Income of $429 Million, or $1.85 per Share
Revenue Up 44 Percent, Hard Drive Shipments Up 39 Percent, From Year-ago Quarter
LAKE FOREST, Calif., Jan 21, 2010 /PRNewswire via COMTEX/ -- Western Digital Corp. (NYSE: WDC) today reported revenue of $2.6 billion, hard drive shipments of 49.5 million units and net income of $429 million, or $1.85 per share, for its second fiscal quarter ended Jan. 1, 2010. In the year-ago quarter, the company reported revenue of $1.8 billion, hard drive shipments of 35.5 million units, and net income of $14 million. The year-ago net income included $113 million of restructuring charges.
The company generated a record $557 million in cash from operations during the second quarter, ending with total cash and cash equivalents of $2.4 billion.
"We are very pleased with WD's strong financial performance in our second fiscal quarter," said John Coyne, president and chief executive officer. "For the third consecutive quarter, we increased output in a supply constrained environment, providing strong support of our customers' growth opportunities, primarily in the consumer segment but, notably, with some emerging strength in the commercial sector. Continued customer preference for WD products, our timely investments in capital, the support of our supply partners and outstanding execution by the WD team generated record revenue and profits. A moderate pricing environment, combined with our passionate focus on cost and efficiency, enabled gross margins of 26.2 percent -- well above the high end of our model range."
The investment community conference call to discuss these results will be broadcast live over the Internet today at 2 p.m. Pacific/5 p.m. Eastern. The call will be accessible live and on an archived basis via the link below:
Audio Webcast: http://www.westerndigital.com/investor
Click on "Conference Calls"
Telephone Replay: 800-925-0904 (toll-free)
WD, one of the storage industry's pioneers and long-time leaders, provides products and services for people and organizations that collect, manage and use digital information. The company designs and produces reliable, high-performance hard drives and solid state drives that keep users' data accessible and secure from loss. Its advanced technologies are configured into applications for client and enterprise computing, embedded systems and consumer electronics, as well as its own consumer storage and media products.
Latest News Posts
- Safran and Valeo show autonomous vehicles can learn from drones
- Valve begins selling tickets to the upcoming Dota 2 The International
- Valve's SteamVR headset will be free for developers, for now
- Police in Maine bust suspect due to poorly advised social media posts
- 10TB SSDs are on their way thanks to Micron and Intel's new 3D NAND
- KLevv Urbane 2800MHz DDR3 16GB Dual-Channel Memory Kit Review
- 4k Gaming with GTX 690 - Do I need to upgrade now?
- D1800M not recognizing LSI PCIe RAID card
- Haswell-E imploded, or something like that...
- X99 Extreme4 even less memory availabe to 32-Bit OS after 1.80 BIOS
- Xilence Announces 402 C-Series CPU Coolers
- BIOSTAR reveals Hi-Fi B85Z5 Motherboard
- Acer Debuts the 15.6-Inch C910 Chromebook
- Antec Announces the VSP-5000 Case with Sound-Dampening
- MSI Launches New mini-PC - Cubi