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WD Announces Record Quarterly Revenues Of US$2.2 Billion With Net Income Of US$288 Million, Or US$1.25 Per Share

  • 28 October, 2009 14:00

<p><em>Fiscal Q1 Revenue Up 5 Percent, Hard Drive Shipments Up 12 Percent, Net Income
Up 36 Percent from Year-ago Quarter<br/>
<br/>
</em><strong>Sydney, Australia</strong> - <strong>Oct. 28, 2009</strong> - Western
Digital Corp. today reported record revenue of US$2.2 billion, record hard drive
shipments of 44.1 million units and net income of US$288 million, or US$1.25 per
share, for its first fiscal quarter ended Oct. 2, 2009. In the year-ago quarter,
the company reported revenue of US$2.1 billion, unit shipments of 39.4 million,
and net income of US$211 million.<br/>
<br/>
The company generated US$434 million in cash from operations during the first
quarter, ending with total cash and cash equivalents of US$2.1 billion.<br/>
<br/>
“For the second consecutive quarter, demand for hard drives was stronger
than expected as the positive industry conditions that materialized in the June
quarter continued throughout the September quarter,” said John Coyne, president
and chief executive officer. “We believe this demand is being driven primarily
by consumers as a result of the growing social media phenomenon. This is creating
demand in mobile and desktop PCs, branded products and enterprise storage. Hard
drive inventories remain at historically low levels, reflecting industry discipline
in managing supply and demand.<br/>
<br/>
“In the September quarter, we leveraged our organization-wide agility to
respond to unexpectedly robust demand and again generated strong financial results.
As we enter the December quarter, demand remains strong and our product line-up,
availability and cost profile position us to benefit from continuing growth opportunities.”<br/>
<br/>
Coyne noted that WD continues to realize tangible benefits from its investments
in technology, products, processes and capacity over the last several years, enabled
by the strongest balance sheet in the industry:<br/>
<br/>
· The company continues to lead the industry in time-to-market volume shipments
of leading capacity points in all segments of the ATA drive market with its WD
Scorpio® Blue™ 1 TB, 750 GB and 640 GB hard drives utilizing 333 GB-per-platter
technology. Additionally, the company leads the market with shipments of its 2
TB 3.5-inch hard drives to the near-line enterprise, desktop, CE and external
storage markets. <br/>
· In branded products, WD continued to grow its business in fiscal Q1 even
as it simultaneously refreshed its entire branded products line-up, positioning
it well for continued growth entering the holiday season and in the year ahead.
The company’s stylish, new offerings include smaller, smarter, more portable
and secure My Passport™ and My Book® solutions that feature new WD SmartWare™
backup, synchronization and content visualization software, hardware encryption
and an innovative e-label display. <br/>
· WD also expanded its line of media players with the introduction of the
WD TV™ Mini Media Player, with support for RealVideo™ content playback,
providing an affordable and convenient way for consumers to play their stored
digital content, and the WD TV™ Live Media Player, featuring network connectivity
and Full-HD 1080p resolution.<br/>
<br/>
<strong>About WD</strong><br/>
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.<br/>
<br/>
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 (<a href="#">www.westerndigital.com</a>) to access a variety of financial
and investor information.<br/>
<br/>
<strong>PR Contact</strong><br/>
Renato Catalan<br/>
Gap Marketing and Management Pty Ltd<br/>
Website:<a href="#">www.gapmarketing.com.au</a><br/>
<br/>
<br/></p>

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