After a week of prelim examinations, I’m back!. And there were a lot of bad news that has happened when I was gone including Steve Jobs who has gone back to medical leave (get well soon Steve!) and a lotta more. But it’s a good news for Western Digital because they just announce a revenue of $2.475 Billion and net income of US$225 million. Nice job WD!. Press release after the break
WD® ANNOUNCES Q2 REVENUE OF US$2.475 BILLION AND NET INCOME OF US$225 MILLION, OR US$0.96 PER SHARE
Manila, Philippines – Jan. 19, 2011 – Western Digital Corp. (NYSE: WDC) today reported revenue of US$2.475 billion, hard-drive unit shipments of 52.2 million and net income of US$225 million, or US$0.96 per share, for its second fiscal quarter ended Dec. 31, 2010. In the year-ago quarter, the company reported revenue of US$2.619 billion, shipped 49.5 million hard drives, and reported net income and earnings per share of US$429 million and US$1.85, respectively.
The company generated US$505 million in cash from operations during the December quarter, ending with total cash and cash equivalents of US$3.1 billion.
“We are pleased to deliver better-than-expected revenues, profitability and gross margin in the December quarter, reflecting solid execution and an improvement in hard drive industry conditions compared with the prior two quarters,” said John Coyne, president and chief executive officer. “The opportunity for profitable growth in our industry remains tremendous and we are committed to improving our financial performance over the longer term. We plan to do so with a continued emphasis on our industry-leading low-cost structure, high quality, highly reliable and highly available products, and a sharp focus on matching production with true customer demand.”
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.
WD was founded in 1970. The company’s storage products are marketed to leading OEMs, systems manufacturers, selected resellers and retailers under the Western Digital® and WD brand names. Visit the Investor section of the company’s Web site (www.westerndigital.com) to access a variety of financial and investor information.
Thanks Lee for the PR!
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