Western Digital Corp. reported revenue of US$2.4 billion, hard-drive unit shipments of 50.7 million and net income of US$197 million, or US$0.84 per share for its first fiscal quarter ended Oct. 1, 2010. In the year-ago quarter, the company reported revenue of US$2.2 billion, shipped 44.1 million hard drives, and reported net income and earnings per share of US$288 million and US$1.25, respectively.
“In a quarter characterized by aggressive industry pricing, we remained solidly profitable, grew revenues and unit shipments year-over-year, and generated US$390 million in cash from operations,” said John Coyne, president and chief executive officer. “Our low-cost business model and strong balance sheet enable us to weather the seasonality and cycles of the hard drive industry such as we experienced during the last two quarters.
“We will continue to focus on quality, reliability, availability and profitable growth to maintain our industry leadership,” said Coyne. “We remain excited about the significant opportunities being created by the unabated growth in digital content in the home and workplace.”