Western Digital Q4 revenue rises 46% to $2bn

Jul 29, 2008 (Datamonitor via COMTEX) -- WDC | Quote | Chart | News | PowerRating -- Hard disk drive manufacturer Western Digital has reported net income of $213m for the fourth quarter 2008, against net income of $212m a year ago, on revenue up 46% at $1.99bn.

For the year, it reported a 54% increase in net income to $867m, on revenue up 48% at $8.07bn.

The company said during the quarter its shipments grew 41% to approximately 35.2 million units, with 2.5-inch mobile drives shipments up 208% at 11.7 million and 3.5-inch unit shipments up 52% at 4.1 million for the PVR/DVR market. Non-desktop sources accounted 63% of the total revenue against 46% a year ago.

John Coyne, president and chief executive at Western Digital, said: "Our outstanding financial performance demonstrates the efficiency and effectiveness of the business model that we have built and refined over the last several years, underpinned by our industry-leading cost structure. Customer satisfaction with WD's broad product line, high quality and reliability, service excellence, and overall value proposition continues to drive our profitable growth."

Looking ahead to the first quarter, it expects revenue between $2.05bn and $2.15bn and EPS between 81 cents and 89 cents.

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