News

posted on 25 April 2008 10:13

Sparkling numbers: number two hard disk drive (HDD) supplier Western Digital announced net revenues 50 percent higher in its Q3 fy08 quarter, compared to the year-ago quarter, at $2.1 billion.

Its net income more than doubled from Q3 fy07's $121 million ($0.53/share) to Q4 fy08's $280 million ($1.23/share). The company shipped 34.5 million HDDs in its Q4 compared to 24.5 million in the year-ago quarter, a rise of 41 percent.

John Coyne, WD president and CEO, said: "The hard drive market continued to demonstrate strong year-on-year unit growth of 16.2 percent in the March quarter, while exhibiting an expected seasonal decline of 8.6 percent from the exceptionally strong December quarter, as anticipated in our guidance for the quarter issued on January 23. ... Our earnings performance is a result of healthy market demand, disciplined financial management, a competitive cost structure, and a committed team with a passion to succeed. We remain very enthusiastic about our opportunities in the fast-growing hard drive industry in the years ahead."

Recent iSuppli figures show WD has strengthened its number 2 position in the world-wide HDD market.

^{[Chris Mellor.]}